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The commerce life of a consumer is becoming more digital by the day, given the proliferation of mobile wallets, eCommerce destinations and the emerging plethora of IoT-ready devices now capable of enabling commerce for them. And while these ever-connected consumers also create many new opportunities for issuers and merchants to do business, there is a downside: the more places to engage in commerce, the more consumers start to feel they’ve lost control of where their account information is being
For some business owners, diving headfirst into a Service Organizations Controls (SOC) engagement can be an intimidating task. Between the different reporting standards, confusing acronyms and variety of reports, it is often difficult to wade into these waters without feeling like you are being pulled under.
When it comes to finding the latest, greatest API solution does it help to invite outsiders into the sandbox? As more companies seek to engage in international trade, API-based solutions are being seen as a way to address some of the frictions that arise with cross-border transactions. The May B2B API Tracker™, a collaboration with FI.SPAN, looks at the challenges companies must address when delving into overseas business and how API-based solutions are helping address these issues.
Xero , the online accounting software company, announced Wednesday (May 10) a partnership with Capital One Financial Corporation to simplify direct bank feeds, credit card data and the bank reconciliation process. In a press release , Xero said the partnership will empower millions of small businesses to make more informed financial decisions. With direct, secure integration through Capital One’s new application programming interface (API), small businesses will be able to connect their Capital
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.
Mswipe Technologies , India’s largest independent POS merchant acquirer and network provider, announced Tuesday (May 9) it has enabled Samsung Pay at all its terminals across the country. In a press release, Mswipe said the partnership with Samsung Electronics will enable contactless/tap-and-pay-on-the-go facility for Samsung Pay users across all two lac Mswipe terminals in the country.
Refugees are among the most unique groups of people for whom to enable mobile payments and other financial services. Clearly an acute need is there, but modern banking is built upon knowing one’s customers; and when all refugees have are the clothes on their back, cash in their pocket and a mobile phone in their hand, knowing one’s customer becomes an extremely high bar to jump.
For financial institutions investing in application program interface (API) solutions to help customers gain access to new services, it pays to open up the sandbox to others. Several major banks, including Citi and Standard Chartered, recently launched their own APIs to help their various clients access each banks’ financial toolsets to address their individual needs.
For financial institutions investing in application program interface (API) solutions to help customers gain access to new services, it pays to open up the sandbox to others. Several major banks, including Citi and Standard Chartered, recently launched their own APIs to help their various clients access each banks’ financial toolsets to address their individual needs.
Mobile payments using biometrics to authenticate the user is forecasted to reach close to $2 billion in 2017, up from $600 million last year, according to new data from Juniper Research. According to a report covering the new research, driving the movement to biometrics payments is Apple Pay, which paved the way for consumers to make payments in stores and on apps using fingerprints.
PSD2 is coming. Lest that sound like a teaser for the newest Game of Thrones season, there is indeed a sea change coming to financial services — one that ostensibly will open the door to greater competition in Europe. Short for the Revised Payment Service Directive, PSD2 lifts banks’ total claim on customer account data and payment activities. To be sure, the directive, which allows banking customers across the consumer and corporate spectrum to choose third parties to assist with and manage fin
Starting a new business can be a long, arduous and daunting road for anyone in today’s fast-paced and ever-changing society. One of the biggest hurdles to starting a new business, in addition to developing an innovative out-of-the-box idea, can be where and how to obtain funding. Whether it’s securing the cash through venture capital investments and family or paying down debts to start on the right step, money seems to be the central conduit that makes entrepreneurship world spin aro
Greater connectivity means greater opportunities — not just for businesses and consumers, but also for fraudsters. A recent study released by Forrester Consulting and digital identity provider ID.me speaks to the growing risk of identity fraud and its detrimental effect on consumer confidence. In the study, the organizations found that the number of identity fraud victims had risen to 15.4 million in the U.S. in 2016, losing a combined $16 billion — just over $1,400 per victim, on average.
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.
Merchants and consumers alike have a host of reasons to love financing. Consumers get to purchase more or better than their cash budgets might have allowed, or get to hold on to their cash for longer. And merchants get a chance to both up their ticket size and win customers’ gratitude and loyalty. Everybody wins. That is, if the merchant is sufficiently large enough that it can either offer its own financing in-house or attract one of the major store-branded card players to collaborate on develo
“The world is getting smaller. People are traveling the world, and they are selling and purchasing property, getting educated, purchasing healthcare, spending and shopping. The question is how to make those purchases possible — and better — for global citizens, whether they’re halfway across the world or looking to transact in person in a foreign land.”.
At the ripe old age of 120, the Swiss Army knife holds a unique place in retail. The same family who founded it in 1897 still owns and run it today — all descendants of its founder, Karl Elsener. Many of whom are also named Karl. Karl’s (the first) innovation put a spring on the handle of a folding single-blade knife that was the standard Swiss Army issue in the mid-1880s.
Anyone who’s ever been the person responsible for a meal at dinner time knows the feeling that is the five o’clock horror. Maybe you only had to cook for yourself, perhaps it was just you and your roommate or partners — or perhaps, like Laura Moore, you’ve found yourself cooking for a mixed household that included a student athlete, a couple of senior citizens, a Type II diabetic and a spouse trying to lose a little weight.
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.
Things are getting tougher for the Consumer Financial Protection Bureau (CFPB) under the new political administration. More banks are now willing to challenge CFPB enforcement actions, said The Wall Street Journal. The CFPB has reportedly announced some 21 enforcement actions in 2017, one-third of which have been challenged, the organization reportedly said.
While the retail point-of-sale (POS) terminals market is currently sitting at $15 billion, Global Market Insights is expecting it to reach $45 billion by the year 2024. Due to consumers increasing use of cashless forms of payment for everyday transactions, there has been a rise in counter money laundering, frauds and terrorism. To help combat these efforts and meet consumers preferred payment method demands, the retail POS terminal market will need to grow to bring down harmful actions.
Subscription services have come a long way. Once reserved for newspapers and magazines, they are now foundational to the rapidly transforming eCommerce market. From online streaming to software products, subscription services have more recently grown to include boxes for physical goods, ranging from beauty products to snacks and alcohol. And their popularity is anything but slowing down.
When it comes to buying subscriptions, there is something of a generation gap emerging — at least when it comes to products, according to the latest data out from Vantiv. Services and digital goods — video streaming, newspapers, music — have broadly intergenerational appeal. Millennials lead the category — with 89 percent holding some kind of services subscription — but Gen-Xers, baby boomers and retirees all make strong showings north of 65 percent.
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.
It’s a set of statistics that all of us have heard many times before: In the U.S., nearly half of the population doesn’t have $400 on hand in the event of sudden need, over a quarter of American households are un- or underbanked and 55 percent of American households are in some form of financial distress. Domestically, that adds up to about 70 million adults living at or near the margin of mainstream financial services.
The UK’s top retailers are facing tough competition online from U.S.-based sites, with Apple and Google Shopping joining a list already led by American imports Amazon and eBay. According to eMarketer , February 2017 data from comScore MMX shows Apple and Google Shopping placed fifth and sixth, respectively, among the U.K.’s top 10 retail companies as ranked by unique visitors to their desktop brand sites.
Real-time payments initiatives are under way all across the globe, but there is little consistency across jurisdictions regarding how the financial services sector takes on the initiative or where each market is at in terms of progress in achieving real-time payments capabilities. In the U.S., there is a bundle of faster payments initiatives, but one of the largest efforts in the area of real-time payments, specifically, is with The Clearing House.
Mastercard , UnionPay International and Visa have introduced a Standardized Quick Response (QR) Code for payments, accelerating Thailand’s transition to a cashless society. According to a press release , consumers holding a Mastercard, UnionPay or Visa card can pay using a mobile application with Standardized QR Code support to scan the merchant-presented QR code, which works on both smartphones and phones with a camera function.
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.
Google may be gearing up to include facial recognition in Android Pay, judging from the code on a new version of its payment app. According to a report , 9to5Google did a so-called APK teardown of Android Pay Version 1.22 and found Visual ID, a feature that is described by Google as a “a secure way to confirm your identity at participating stores, making it easier to do things like earn loyalty points and redeem rewards.”.
Bitcoin’s growing just about as fast as we can write about it — as are a number of other cryptocurrencies, for that matter. It only took just over one day for the bitcoin price to break the record it set earlier this week. On Thursday (May 11) of this week, bitcoin saw values break above $1,800 for the first time in history. It’s a crazy amount of growth — up a full 81 percent since the beginning of 2017 and nearly triple (299 percent) the value at this time last year.
While the blockchain technology makes its way into different industries outside of the finance arena, one vertical that’s ready to take it on is the automotive world. With the combination of big data in the auto market set to reach $4 billion by 2020 and end-point authentication in the auto market to be valued at $1,042.5 million by 2022, blockchain technology use is prime for integration.
The global peer-to-peer (P2P) transfer and remittance market has grown to well over $1 trillion, thanks to the glut of P2P money transfer apps making domestic and cross-border payments easier and faster than ever. The cross-border B2B payments market, on the other hand, is fraught with friction, despite being much larger in size — accounting for nearly 80 percent of global cross-border payment revenue, according to a 2016 report by McKinsey & Company.
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.
As technology becomes more pervasive in everyday routines, more people are utilizing person-to-person (P2P) payments. According to Bank of America’s latest research, Bank of America Trends in Consumer Mobility Report , millennials are leading the charge in pushing for digital P2P payments via mobile apps. Here are the numbers: 36 percent | Percentage of U.S. adults using P2P payments. 62 percent | Percentage of P2P payments stemming from millennials. 45 percent | Percentage of people sur
The latest data from the CBIZ Small Business Employment Index “disappoints,” analysts said. The report , released Friday (May 5), found a 0.32 percent month-over-month decrease in hiring for the month of April among U.S. small businesses. CBIZ called it a “large decline” compared to the 1.66 percent increase recorded in March.
Like sands through the hourglass, these are the days of our retail lives. As more brick-and-mortar locations struggle to keep pace with online shopping, Fidelity has taken notice and made the decision to focus its efforts on eCommerce. This week, it was announced that the mutual fund giant led a $65 million round of funding for three-year old eCommerce startup Spring.
02 , the mobile phone seller, confirmed it was the target of hackers that exploited a weakness in a protocol used by telecom networks for two-factor verification. According to a report , O2 confirmed the protocol that connects the back ends of telecom networks was exploited to intercept and reroute two-factor verification codes that were sent by German banks to customers’ mobile phones to authorize the transfer of funds online.
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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