Sat.Dec 28, 2019 - Fri.Jan 03, 2020

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Why Speed And Scale Will Define Global Payments In The 2020s

PYMNTS

Speed, scale and engagement — if you say it a few times, really get your vocal cords and mouth into the exercise, there’s a certain snap to those words put together like that. As well there should be — those are among the main traits set to define payments in the 2020s. We here at PYMNTS don’t mean to wear you down with all our anticipation about the new decade.

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Samsung To Launch ‘Artificial Human’ Called Neon

PYMNTS

Samsung disclosed that it will introduce an “artificial human” called Neon at CES 2020 on Jan. 7 that is totally different than its artificial intelligence (AI) assistant Bixby, Digital Trends reported. The limited information about Neon was shared on Samsung’s Twitter account, and includes an “Artificial Human” teaser in several languages with the tagline “Have you met an ‘artificial’?”.

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Self-Driving Truck Hauls 40K Pounds Of Butter Across US

PYMNTS

Silicon Valley startup Plus.ai is thought to be the first company to deploy a self-driving commercial truck to haul 40,000 pounds of butter roughly 42 hours cross-country from Tulare, California to Quakertown, Pennsylvania, ZDNet reported. The company’s Level 4 autonomous semi-tractor-trailer completed the 2,800-mile run for Land O’Lakes in under three days.

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KPMG, PwC, EY To Put $9B Toward AI, Data Tech

PYMNTS

The largest accounting firms – EY, Deloitte, KPMG and PwC – are investing billions of dollars in artificial intelligence (AI) and data technology products to change the industry in new ways, according to a report by Bloomberg Tax. The investment goes beyond the idea of just automating processes, moving into entrenched AI work, data analysis and tech training for all employees.

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Planning Your Restaurants Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Record Holiday Sales Trigger Record $100B Returns

PYMNTS

Gift returns have become a holiday tradition in the U.S., with consumers anticipated to send back a record $100 billion worth of unwanted goods bought this year between Thanksgiving and Christmas, The Financial Times reported. Last year returns from purchases made during the same period hit $6 billion. Online purchases are almost three times more likely to be returned than those in stores, leaving retailers with millions of items to sort.

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Welcome To The Connected Economy

PYMNTS

Making predictions is simply irresistible at this time of the year – this year in particular. Tuesday marked not only the end of a year, but the end of a decade. Not just any decade, but one that has seen unprecedented levels of innovation touch nearly every industry segment and almost every corner of the world. Predicting the future, though, is risky business – which may explain why many predictions are wishy-washy or soon proved wrong.

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Get Ready For More Voice In Retail — And Soon

PYMNTS

It’s going to be a very vocal year when it comes to retail. Voice is the killer app of the connected commerce experience, according to the How We Will Pay: 2019 Edition study. For the third consecutive year, the use of voice-enabled devices and assistants to enable purchasing has increased faster than any other type of connected commerce. About 31 percent of consumers now own voice-activated devices, up from 27 percent in 2018 and 14 percent in 2017.

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Deep Dive: AP Processing Delays And How New Payment Innovations Can Help

PYMNTS

Paper-based payment methods such as checks and cash are awkward and cumbersome in either business-to-business (B2B) or business-to-consumer (B2C) transactions. The negative impact that these increasingly outdated methods have on both senders and receivers has mostly been ignored, however. Such legacy payment methods are usually tied to paper-based invoices and manual tracking and reconciliation procedures, which impede payments from being processed in a timely manner.

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When Instant Payments Are Just Payments

PYMNTS

In just three years, one word, one idea, has rewritten the payments rulebook: “instant.” Driven by faster phones, ingenious apps and sheer market force, the move to instant is pushing the boundaries of what’s possible with payments, opening up new worlds of risk and reward. Rarely do consumers and businesses agree on anything as much as they have on instant.

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How Mobile Order-Ahead Drives Innovation In Restaurant Design

PYMNTS

As diners can order a wide range of cuisines from their smartphones, mobile order-ahead continues to become more popular — and quick-service restaurants (QSRs) are taking note. The technology is changing the design of restaurants, as some coffee chains are rolling out pick-up only locations while others are refreshing stores with pickup windows. Large chains like Dunkin’ and Starbucks were among the first to embrace mobile order-ahead technology.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Corporates Brace For Cloud Computing Accounting Changes

PYMNTS

The Financial Accounting Standards Board (FASB), which establishes accounting standards in the U.S., has released new guidance on computing costs for cloud computing to take effect for public businesses in 2020. It also provides a new standard for companies that struggle with the implementation of the technology, according to a report by Compliance Week.

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2019: A Banner Year (And Bumper Data Crop) For Hackers

PYMNTS

It’s the list no one likes to be on. It’s kind of like being on the “worst dressed list” except that we’re talking about stolen data and, probably, lots of lawsuits. Welcome, then, to the Top Data Breaches of 2019. The readings are pretty grim. At a high level, the numbers are staggering. Millions of accounts hacked. Billions of records accessed. Thousands of breaches.

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JPMorgan Ups Security By Blocking FinTechs From Passwords 

PYMNTS

The downside of data sharing has come full circle as JPMorgan Chase strives for enhanced protection by blocking FinTech apps from accessing customers’ passwords, The Financial Times (FT) reported on Tuesday (Jan. 2). As a way to get users’ passwords “out of the system,” the lender will disburse tokens to third parties, embedded with limited data, Bill Wallace, Chase’s head of digital, told FT. .

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Monzo’s Cash Burn Sets Stage For Big Capital Raise In 2020

PYMNTS

As online banking continues rapidly evolving , ahead of another anticipated round of funding next year, digital challenger bank Monzo remains in discussions to secure as much as £100m in upcoming weeks. The financial startup plans to raise between £50m and £100m in early 2020, amplifying an earlier June 2019 deal that netted Monzo £113m. Monzo , founded by entrepreneur Tom Blomfield, acquired 3.5 million customers in 2019, offering those users a mobile app bank account and a distinctively-colore

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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Credit Union’s API Drive To Digital Innovation

PYMNTS

It wasn’t very long ago that nearly every banking-connected function required a trip to the local branch. Even the simplest tasks like changing the PIN on a debit card required a command appearance. Today, CO-OP Financial Services Chief Technology Officer Pam Brodsack said, a customer can do that — and a whole lot more — from within the confines of their mobile app from just about any place on earth due to the power of application programming interfaces (APIs). .

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Samsung’s New Fridge Uses AI To Track Food Inventory

PYMNTS

Samsung has introduced a new refrigerator that’s the latest addition to its Family Hub lineup, with artificial intelligence (AI) and features that can plan meals and connect with Samsung devices around the home, according to a report by VentureBeat. The cameras inside are powered by the company’s AI ViewInside technology which scans items, identifies them and sends updates when new or old items are out. .

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Bitcoin Investors Expect Big Returns In The New Year

PYMNTS

Bitcoin investors are in for a halving event in 2020 that could potentially give their currency a boost , according to Bloomberg. A halving event refers to the process in which the reward that Bitcoin creators get for creating fresh bitcoins will be cut in half. Sometimes, it’s referred to as the halvening instead, a reference to the classic fantasy film “Highlander.”.

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Can Booze Help Build Better Retail Experiences?

PYMNTS

That great wit Homer Simpson , one the most influential court jesters of the past 30 years, had this to say about the habit of drinking adult beverages: “Here’s to alcohol: the cause of, and solution to, all of life’s problems.”. Some retailers might be taking that to heart in this new year as part of the larger and ongoing effort to breathe new life into brick-and-mortar retail — a struggle that has been around almost as long as “The Simpsons” has, in fact.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Beer Companies Try To Attract Customers During Dry January With Non-Alcoholic Drinks

PYMNTS

Americans are drinking less beer, and this month people worldwide will be participating in ‘Dry January.’ But beer companies are trying to work around those obstacles and keep customers. Beer makers Heineken and Molson Coors are using the month-long sobriety challenge as a marketing tactic. Both companies are debuting non-alcoholic beers to entice customers who are shying away from the beverage due to health concerns or a shift toward trendier drinks like hard seltzers.

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Russian Regulators To Crack Down On US Big Tech In 2020

PYMNTS

New Russian protectionist legislation takes aim at U.S. Big Tech companies as additional laws are being prepped to restrict content. According to The Hollywood Reporter (THR), all computers and mobile devices sold in Russia are required to have preinstalled Russian software effective July 1. Apple is among the many U.S. tech companies that are opposed to having to preinstall the Yandex Russian web browser and other apps, which would require additional licensing and development fees.

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Postmates To Deliver Free New Year’s ‘Hangover Remedy Kits’

PYMNTS

Delivery service Postmates and popular coconut water drink Vita Coco are partnering with Manhattan deli Lenwich to offer a whimsical but practical 2020 “hangover remedy kit,” according to Fox Business. The free-while-they-last kits will feature a bottle of Vita Coco plus additional branded items from the company, including socks, a sleep mask, and a “Do Not Disturb” door sign.

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Going Truly Over The Top For Christmas

PYMNTS

Christmas is now in the 2019 rear-view mirror. Gifts have been unwrapped, and 10 percent of packages are, or are in the process of being returned. This year, confident U.S. consumers spent, and spent big. According to Mastercard , sales are up 3.4 percent and eCommerce sales are up 18 percent over 2018. The National Retail Federation ( NRF ) reports that, based on early predictions, the average American spent a little more than $1,050 on gifts given to others this holiday season, with higher inc

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Ex-Barclays Head To Launch Crypto-Friendly Digital Bank

PYMNTS

The former head of technology at Barclays, Mark Hipperson, is launching a digital bank called Ziglu that will serve both crypto and fiat accounts, according to a report by Cointelegraph. In addition to working at Barclays, Hipperson was the former CTO at Starling, a U.K. challenger bank. The accounts at Ziglu will be free and able to have multiple currencies, and people will be able to easily exchange them.

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China’s Central Bank Pours $115B Into Economic Growth 

PYMNTS

The People’s Bank of China (PBoC) is planning to pump about $115 billion into the economy by freeing up lenders to write more loans, The New York Times reported on Wednesday (Jan. 1). China’s central bank said it would cut its reserve requirement ratio – the amount of cash from deposits that lenders must have on-hand – by 0.5 percent up to 12.5 percent for large banks, effective Jan. 6, per reports.

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China’s Xiaomi Injecting $7B Into 5G, AI Over 5 Years

PYMNTS

Chinese smartphone firm Xiaomi is planning to pump over ¥50 billion ($7.18 billion) into artificial intelligence (AI) and 5G technologies over the next five years, Reuters reported on Thursday (Jan. 2). The announcement was made by Xiaomi Chief Executive Lei Jun, who posted a letter on the company’s social media account. “We need to turn our continuous advantage we have in AIoT [artificial intelligence of things] and intelligent life into absolute victory in intelligent full scene, and completel

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USAT: How Emerging Tech Is Forging Unattended Retail’s Future

PYMNTS

To boost the bottom line and get consumers interested, actively engaged and ready to spend, retailers have increasingly been turning to advanced technologies such as artificial intelligence (AI) and machine learning to fine-tune businesses — in real time. That’s especially true with unattended retail, where consumers have become more comfortable with self-service.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Amazon Or Walmart? Who Won 2019’s Race For The Consumer’s Whole Paycheck

PYMNTS

A little more than a year ago, PYMNTS started tracking the race for the consumer’s whole paycheck between the two retail behemoths that have been expanding their respective ecosystems in the process: Amazon and Walmart. At the time, in November 2018, it became clear that the state of that race had changed. Walmart was leading that race then, according to PYMNTS analysis, since it accounted for 8.9 percent of consumer retail spending in the U.S., and 2.8 percent of all U.S. consumer spending.

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Real Estate Market Bounces Back With 1.2 Pct Jump In Pending Home Sales

PYMNTS

The index of pending home sales increased 1.2 percent in November after a fall in October that followed two consecutive months of increases, the National Association of Realtors (NAR) reported Monday (Dec. 30). . The NAR Pending Home Sales Index (PHSI), which measures the number of purchase contracts signed, rose to 108.5. Contract signings measured year over year were up 7.4 percent and pending home sales rose nationwide in all regions compared to 2018.

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AP Automation Set To Shred Paper Checks

PYMNTS

We may be present for an historic moment akin to the advent of electric lighting, or at least the leap from DVD to streaming TV: It’s the demise of the much-maligned paper check. That’s no optimistic, dawn-of-the-decade prediction – it’s happening fast, and that’s the whole point. The PYMNTS December 2019 Next-Gen AP Automation Tracker details explosive innovation in real-time payments for business, driven in no small part by accounts payable (AP) professionals.

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Singtel, Grab Team Up To Launch Digital Bank In Singapore

PYMNTS

Singtel and Grab are looking to consolidate their powers to create a new digital bank for the people of Singapore, they announced in a press release. Singtel , Asia’s leading communications technology group, and Grab , Asia’s leading super app, have formed a consortium to enter digital banking and help the communities of Singapore that have traditionally been left behind in banking matters, the press release said.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.