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Blockchain has officially entered the grocery aisles. Walmart has announced that it is now testing new blockchain technology to track and trace produce in U.S. stores and pork in China. PYMNTS covered the testing and lead-up to the kickoff back in November. Now, the technology and use of it are even closer. It’s a pilot program, where sliced apples and cut broccoli will be used to test the blockchain database technology for four months starting in the first quarter of 2017.
Ryan Miller, senior tax partner at Katz, Sapper & Miller, along with Bob Bracale, management consultant with KSM Consulting, will present at the KSM and Institute of Management Accountants – Indianapolis Chapter’s “2017 Tax Strategies and Lean Six Sigma in High-Performance Organizations.
It’s a fact. While they enjoy many FinTech innovations, most millennials don’t have a snowball’s chance of earning more than their parents — ever. How big the income gap between those 70 million people and their parents depends on a few things, including how well-heeled their parents are. Not surprisingly, hardest hit are the kids born to middle and lower middle-income families — so, roughly 70 percent of the U.S. population.
2017 looks like it’s shaping up to be a solid year. Between consumer confidence trending upward and more people spending — and racking up some debt — retailers are slated to be pleased when the ball drops and the confetti settles. But in order to look forward, it’s important to look back at the past year. And in this case, we’re reflecting on 2016’s eCommerce trends.
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.
Corporates large and small are “naïve” about their cybersecurity risks, according to a new report. Researchers at cybersecurity analytics company RedSeal released a survey this month that explores why businesses aren’t adequately approaching their security strategies, and it comes in the context of new data from IBM Security that finds U.S. firms aren’t heeding advice from the Federal Bureau of Investigation about how to deal with an attack.
Headed into the end of 2016, bitcoin trades on the high end of $700, and much has been made about the price appreciation in the wake of geopolitical surprises, such as Brexit and, of course, the U.S. presidential election. The question remains, however, just how bitcoin should be viewed and used. In the most recent installment of PYMNTS Topic TBD, Gene Kavner, founder and CEO of iPayYou, noted that bitcoin is moving through a transition.
The holiday shopping season is in full swing. It’s the time of year when many children write letters to Santa Claus listing all the cool stuff they want to receive for being good all year. But jolly old men in the North Pole aren’t the only ones with insights into what shoppers are most interested in buying. In the world of IoT, a new connected billboard may be able to tell what products shoppers are most likely to be interested in buying and pinpoint the best time to display a relevant ad for t
The holiday shopping season is in full swing. It’s the time of year when many children write letters to Santa Claus listing all the cool stuff they want to receive for being good all year. But jolly old men in the North Pole aren’t the only ones with insights into what shoppers are most interested in buying. In the world of IoT, a new connected billboard may be able to tell what products shoppers are most likely to be interested in buying and pinpoint the best time to display a relevant ad for t
Connectivity is expanding from mobile devices to surrounding infrastructure and vehicles. This includes traffic lights that can communicate with cars and coffee cups that can act as wallets. At the same time, this new era of connectivity is also allowing infrastructure to learn the habits and patterns of consumers to help companies make more informed marketing decisions.
It’s no surprise that venture capital rounds in B2B FinTech may be dwindling as the holidays ramp up, but that doesn’t mean the space has gone ignored. Investors in the U.S., Europe and Asia provided more than $19 million across treasury management, corporate FinTech and Software-as-a-Service. The most high-profile (yet secretive) deal went to Kyriba, but SaaS scored two deals this week.
From open APIs to omnichannel, from EMV chip cards to faster payments, it’s hard to put a finger on exactly which happenings in the payments space had the biggest impact in 2016. There were many shifts and trends in the ecosystem this year, some that will surely have an impact on how payments stakeholders operate for years to come. But picking the most influential is a tough job.
With a new year on the horizon, it’s out with the old and in with the new. For the banking industry, this could be an ideal time to consider if the traditional rules of business are still working or if the industry could benefit from a fresh approach. According to Chris Britt, CEO of mobile-first banking platform Chime, consumers are getting frustrated with larger, traditional financial institutions.
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.
[link]. Financial services may be on the cusp of change in the very nature of how funds are stored and moved between people and enterprises. The evolution of the industry, however, is not likely to be a linear one — wholesale change rarely is. In an interview with Karim Ahmad, TSYS executive vice president of global product and innovation, PYMNTS’ Karen Webster delved into the very nature of change, marking what once might have been a staid industry.
Beijing has started prosecuting 26 people who are behind what is alleged to be China’s largest online fraud scam. According to a report by Reuters , the fraud case involves a close to $8.64 billion scam from online peer-to-peer lender Ezubao. Ten people, as well as Ezubao’s parent companies, Yucheng Holdings and Yucheng Global, are facing charges of fraudulently raising money.
Supply chain financing company Taulia is working with a new partner to step into the aerospace and defense industry, among others. Reports Thursday (Dec. 22) said Taulia announced a partnership with Exostar, which provides cloud-based solutions to the sector, as well as to the life sciences and health care sectors. Its software helps businesses in these spaces mitigate risk and security.
There was a time when data breaches were not a daily part of consumers’ day-to-day lives. Sure, credit cards got stolen or skimmed from time to time — but such occurrences were comparatively rare. These days, that is just not the world we live in. About a week ago, a billion (with a “b”) Yahoo! customers found out that their personal information has been in the hands of hackers for the last few years, mostly due to out-of-date encryption and an apparent unwillingness on Yahoo!
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.
The financial services industry was one of the first to begin tapping into the power of blockchain. But distributed ledger technology has potential to disrupt more than payments and finance. A new report from Deloitte examines which industries have their eye on blockchain and which are still left in the dark. According to the company’s report , released earlier this month, 39 percent of top executives at U.S. businesses say they have little or no knowledge about blockchain.
Engility , a cybersecurity firm based in Chantilly, Virginia, announced that it was awarded a $31 million contract in support of the U.S. Air Force Life Cycle Management Center, Cyber Security Engineering Division. The company’s work will include providing the Air Force with a cybersecurity assessment, analysis and research for its Defense Technical Information Center (DTIC).
American consumers have shown they’re hungry for new payment options. . As documented in the December edition of the Unattended Retail Tracker™ , the results of a six-month long study conducted by USA Technologies show that just informing customers that a merchant or vendor accepts Apple Pay and other mobile wallets can boost overall sales by more than 36 percent.
Dear Mr. Claus, We here at PYMNTS have hung up our stockings and strung up our lights. We set out the milk and cookies for your arrival. (There’s also some craft beer available in the off chance that’s your thing.) But before we don our nightcaps and dream of sugarplums, we wanted to reach out and say that we have a lot to be thankful for, so while we’d love for you to have our cookies and your beverage of choice, we don’t want any presents this year.
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.
The problem, according to Rod Buscher, CEO and founder of Blinker, is that most Americans need a car — meaning they often don’t feel they have a lot of power to dictate terms when it comes to getting a car. “Despite the mental image I think people have of a car purchase being a very negotiation-oriented process — haggling with a salesman and hammering out the best deal — that is not the reality a lot of buyers and sellers face,” said Buscher.
U.K. fintech company MB Transfers, which enables cross-border B2B payments, is going by a new name: ArcaPay. It’s part of the company’s effort to refocus on digitization, CEO Marius Bausys said in the company’s announcement earlier this month. The rebrand also comes with new efforts to help SMEs succeed through a consulting service. The strategic moves, ArcaPay explained , are in response to small businesses needing more attention and specialized services that they aren’t getting from their ba
New research from Check Point shows that cybercriminals are increasingly targeting African countries with ransomware attacks. According to Check Point’s data, five African nations were among the top 10 most-attacked countries in November. Botswana was the most-attacked country out of 117 at-risk nations, followed by Malawi, Namibia, Uganda and the Democratic Republic of Congo all placing in the top 10.
Keeping hands off a mobile phone, it appears, is no easy feat. American consumers check their phones nearly 46 times — or, collectively, 8 billion times — a day, a Deloitte study found last year. And merchants are no different. They’re spending as much time trying to get consumers’ attention on their mobile screens. In the fourth quarter of 2016, over 93 percent of mid- to large-sized merchants and over 84 percent of small to mid-sized merchants offered a mobile-optimized eCommerce experience to
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.
The NBA’s Orlando Magic may not be the first franchise that comes to mind when one thinks of B2B payments technology, but Viewpost changed that with its announcement Tuesday (Dec. 20). The invoicing and corporate cash management firm revealed that the NBA team is now using Viewpost to manage its own supplier payments needs, enabling the franchise to send digital invoices to its corporate clients and accept electronic payments.
Americans, especially millennials, are hungry for restaurant innovation. According to a report on restaurant technology usage from Technomic, 79 percent of restaurant customers surveyed agree that technology improves their experience at an eatery. New payments and engagement systems are especially popular among younger consumers, according to the report, with 77 percent of North American customers between ages 18 and 34 reporting that they want more modern options at restaurant chains.
VocaLink isn’t facing enough competition in its role of providing the underlying infrastructure of key payment systems like Bacs, according to the U.K. Payment Systems Regulator (PSR). Earlier in the year, the authority published proposed remedies for pumping competition into the market. The PSR has now released a consultation paper in response to feedback received after those proposals were issued, according to Shearman & Sterling LLP.
The number of young adults in the U.S. that are shacking up with their parents, siblings or other family members reached close to 40 percent in 2015, marking the largest percentage since 1940. According to a report by The Wall Street Journal , which is based on an analysis of census data by Trulia, the online real estate firm, even though the economy and job market are improving, the number of people between the ages of 18 and 34 living with their parents or family members has been on the rise
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.
PYMNTS consulted 21 payments executives from across the industry to share their insights on the biggest takeaways from 2016 as part of the “Payments 2016, The Year Of…” eBook. We posed the same question to each executive: If you had to answer the question, Payments was the year of …, how would you answer, and how does your answer change your world — and the world of payments, more broadly?
Tricking someone into clicking on a fake website and turning over their personal data has been a favorite scam of hackers, and it doesn’t seem to be abating, with security firm Cyren reporting a fake Michael Kors shopping website coming in as the highest volume non-malware attack of all of 2016. In a blog post Thursday (Dec. 22), Cyren said a spam attack for the fake Michael Kors website is the highest Cyren’s security cloud has seen this year.
The wearables market may be doing worse than expected , according to new research. Market research firm International Data Corp. (IDC) recently reported that the wearables market isn’t doing as well as most people think with the proliferation of options. Despite Apple CEO Tim Cook saying otherwise, the launch of the Apple Watch Series 2 this fall hasn’t gained traction, as Apple’s sales declined 71 percent compared to last year’s third quarter.
Critics are after Facebook for admitting to yet another a traffic calculation error. It’s the fourth time in the past three months. In its Metrics FYI blog post updated on Dec. 16 , the social media giant said there was a discrepancy in how the platform measured traffic from news outlets and other publishers who use Instant Articles, which it launched last year.
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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