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Businesses of a certain size — and in industries as varied as construction and restaurants — know the pain of wondering if they will have enough capital to fund operations, inventory, expansion and other mission-critical business activities. They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that might not want to take on the risks or economics of extending smaller lines of credit to small businesses (SMBs), with fortunes that
The Tax Cuts and Jobs Act (TCJA) passed by Congress in December 2017 may seem like old news, but many buy here – pay here (BHPH) operators are just now feeling the impact of the changes on their tax returns. So, what looks different on your tax return this year, and what can you do to prepare for next year?
Digital assistants. Smart fridges and thermostats. Security devices, too. The Internet of Things (IoT) has gone global, an ever-expanding ecosystem that touches consumers in every facet of their daily lives. The latest Intelligence of Things Tracker shows some pretty big numbers in terms of the billions of devices already out in the field, and the billions of dollars already being spent on those devices … and it seems like things are just getting started.
Visa said this week that as acceptance of EMV cards has gained traction in the U.S., counterfeit fraud, measured in dollars for these card present transactions, has dropped precipitously. The latest stats show that the continued upgrade to chip card acceptance – which began in 2015 – has led to a decrease in counterfeit fraud dollars on the order of 76 percent, as measured in December of 2018 vs.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
A European Central Bank ( ECB ) official is throwing his support towards wholesale central bank digital currencies (CBDCs). In fact, Vitas Vasiliauskas, a member of the Governing Council of the ECB and chairman of the board of the Bank of Lithuania, said the real issue at play is whether CBDCs should be retail, wholesale, or a combination of both. While a retail CBDC would be available for the general public, wholesale would serve a limited circle, primarily banks.
Western Union has expanded its services into Thailand and launched a brand new international money transfer service in the region, the company said in a release. “Customers in Thailand can now connect with their families and loved ones around the world, (24 hours a day, 7 days a week), via the Western Union mobile app or transactional Westernunion.com/th.
The Treasury Department announced Wednesday (May 29) in a report to Congress that of the 21 major U.S. trading partners, only nine need further scrutiny because of their currency practices. Reuters, citing the semi-annual report, reported that the Treasury Department added Ireland, Italy, Malaysia, Singapore and Vietnam to a watch list that already includes China, Germany, Japan and South Korea.
The Treasury Department announced Wednesday (May 29) in a report to Congress that of the 21 major U.S. trading partners, only nine need further scrutiny because of their currency practices. Reuters, citing the semi-annual report, reported that the Treasury Department added Ireland, Italy, Malaysia, Singapore and Vietnam to a watch list that already includes China, Germany, Japan and South Korea.
It’s not often that one gets to see a new form of retail emerge, but that’s what’s happening with, of all things, legal recreational cannabis. So far, this retail is taking a form that is big, feminine and even a bit luxurious. The big comes from the apparent rise of the so-called cannabis “superstore,” the hotbed of which is reportedly — and understandably — Las Vegas, one of the world’s main adult playgrounds.
As part of its strategic plan, investment firm Goldman Sachs aims to win the business of more mid-sized companies. It also plans to spend $4 billion technology this year per John Waldron, the bank’s president, who made the remarks at a Bernstein conference in New York, the Financial Times reported. Companies with a worth of under $2 billion are one of the major focus areas for the company.
Usually when we’re telling a story at PYMNTS about expectations for a product being radically divergent from its actual performance, it is a story about underperformance. Something comes in on a cloud of extravagant hype only to end up with merely so-so reaction from the intended audience. In more serious misalignments, something briefly billed as the next big thing in payments and commerce will fizzle out shortly thereafter , mostly unnoticed.
More than half of all Americans now subscribe to digital news or entertainment streaming services, and such offerings are already beginning to crop up in new industries, like cars and financial services. Companies are developing new subscription boxes, tiers and perks to retain customers’ loyalty in the face of rising competition, too. Retailers, like Walmart , are using related retail packages to compete with rivals such as Amazon , while digital services like Spotify and Apple Music continue t
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Citigroup was reportedly in advanced talks with Apple to partner on its new credit card but decided not to move forward, according to CNBC. Citing people with knowledge of the talks, CNBC reported that Citigroup bailed over concerns that it wouldn’t earn enough of a profit from the partnership. The report noted that JPMorgan Chase, Barclays and Synchrony were also in the running to partner with Apple on the credit card.
When most people talk about the high-tech future of ridesharing, they are generally talking about self-driving vehicles as the next logical great leap forward. Most people, but not quite everyone. For Munich-based firm Lilium , thinking about autonomous vehicles is thinking too small. When the folks at Lilium think about the future of ridesharing, they tend to think the sky’s the limit.
A cybersecurity research team at vpnMentor has discovered that The Pyramid Hotel Group, which manages Marriott and other hotel brands, underwent a data leak exposing vulnerabilities that could potentially be used by criminals, the company said in a report. The researchers, Noam Rotem and Ran Locar, found a breach that exposed 85.4GB of security audit logs.
Apple Pay is coming to New York City thanks to a partnership with the Metropolitan Transportation Authority or MTA. The Verge , citing Apple Pay, reported that on May 31st, people can use Apple Pay for public transportation in the sprawling metropolis. According to TheVerge, the rollout of Apple Pay is part of the MTA’s One Metro New York initiative in which it’s testing new payment methods for fares.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
So much starts with coffee – mornings, political ads, artistic movements, advances in QSR retail – and that dictum could hold true with robots, at least the next generation of robots that promise to be powered by 5G technology. The world is waking up to the fact that emerging 5G technology could bring significant, widespread change to not only business and economics, but also to many parts of civilization.
The Bank of Spain wants eurozone countries to complete their banking alliance by creating a deposit insurance scheme and a stabilization fund. Reuters , citing the Bank of Spain , reported that during a presentation of its annual report, the central bank warned that the economy of the bloc could face risks as a result of Brexit uncertainty, high national debts, low productivity and a population that is getting older.
For Total System Services (TSYS) and Global Payments, it’s official. To that end, the companies said they would enter into a merger valued about $21.5 billion, marking the latest in a string of multi-billion dollar deals among global players offering a range of services and products across the payments landscape. The merger follows the $34 billion deal between FIS and Worldpay that came in March and the $22 billion announcement between Fiserv and First Data that was announced in January of this
With better-than-expected revenues and earnings, DICK’S Sporting Goods ’ eCommerce sales jumped 15 percent in the first quarter. The company’s overall reported quarterly earnings beat estimates of analysts as the company increased its outlook for the full year, CNBC reported. The retailer reported net income of $57.5 million or 61 cents for each share.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
As 5G deployments start, the people who run hospitals and medical offices, along with companies that supply healthcare devices and payment services, are starting to figure out what the quicker speed and other features of the new mobile network technology will do for them. These early moves are yet another sign of the wide and deep impact that 5G promises to have.
Two U.S. law firms have launched investigations into the U.K.’s Metro Bank on behalf of investors concerned that the institution committed securities fraud. Reports in The Guardian on Thursday (May 30) said Pomerantz and Levi & Korsinsky, both based in New York, have opened these investigations, joining Glancy Prongay & Murray, which confirmed it launched a probe earlier this month.
The chief operating officer of Goldman Sachs said the bank is working on a digital money management tool in an attempt to attract more customers from Main Street, according to a report by Reuters. “We are developing a digitally empowered mass affluent capability that will leverage our Marcus platform and customer base,” said John Waldron at a bank conference in New York.
A group of investors has acquired Sureswipe , a South African payments company, for an undisclosed amount. The investors were led by Apis Partners LLP and FinTech investor Crossfin Technology Holdings. Sureswipe will be consolidated under the newly-formed Crossfin Transactional Services (CTS), along with Innervation Pan African Payments and Emerge Mobile’s iKhokha.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Some entrepreneurs are inspired to start companies because they spot unmet needs in the market: Frontdesk Co-Founder and Chief Growth Officer Jesse DePinto, for instance, saw the amateur nature of home shares but the opportunity for something better than a hotel. The company saw the need for the best of both worlds and, to tackle this challenge, it is “evolving into a 21st-century tech-enabled hospitality brand,” DePinto told PYMNTS in an interview.
Robinhood Markets , the operator of a free mobile trading app, is close to garnering a valuation of $7 billion or more. CNBC , citing two people familiar with the deal, reported Robinhood has raised a minimum of $200 million in a recent late-stage fundraising round that will give it a valuation of between $7 billion and $8 billion. The round, which includes mainly existing investors, hasn’t closed yet — which means it could raise more than $200 million.
With abundant choices in many aspects of their lives, consumers expect a range of options when it comes to online shopping, ranging from picking out clothes to making travel plans. And, to meet their day-to-day needs, more consumers are tapping into digital platforms seeking top-notch customer support and seamless service. By 2021, close to 90 million – or 86.5 million – consumers will be participating in the digital platform ecosystem, per the PYMNTS and the Platform Economy Playbook.
Call it the great purge of 2019? Amazon is reportedly in the midst of reshaping relationships with several of its longtime vendors, according to Bloomberg. The lasting effect will be that bulk orders “dry up” for many suppliers, most of them classified as smaller firms. The latest actions come after an initial halt, the news outlet reported, that occurred months ago.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
FinTech firms that provide workers with wages on demand (i.e., before payday) emerged with the cash flow challenges of low-wage, hourly workers in mind. Yet, in the U.K., rising costs of payroll administration, intensifying compliance requirements and complex tax rules have led companies of all industries and sizes to rely on monthly paydays, rather than weekly or biweekly payouts — a shift that has spread the cash flow crunch to employees beyond the shift work space.
Driving efficiency in accounts payable (AP) can stem from an array of efforts. Adopting electronic payments and getting rid of paper checks is certainly one way to boost AP efficiency. In addition, adopting a digital accounts payable platform can streamline operations, as well as open access to digital data for analytical and process automation purposes.
First American Financial Corp., the title insurance company that exposed the data on hundreds of millions of mortgages dating as far back as 2003, is being sued in a class-action lawsuit. The complaint was filed with the United States District Court for the Central District of California by Gibbs Law Group on behalf of David Gritz, a resident of Pennsylvania who had bought and sold several homes.
Income sharing is not a common method of financing as of 2019 — though, as of late, it has begun to get much more interest from investors and innovators, particularly in the context of student loan financing. The basic structure of the program in a student income share agreement is that an investor essentially fronts a student’s college tuition under the condition that, when the student graduates and begins working, they will surrender a portion of their future income for a given period of time.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
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