Sat.Jun 22, 2019 - Fri.Jun 28, 2019

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Visa Buys Rambus Payments To Tokenize Any Transaction On Any Network

PYMNTS

In digital commerce, promise and peril co-exist. Payments fraud is continuously moving from offline settings into the online realm. To that end, Visa said this morning (June 25) that it has inked a deal to buy the token services and ticketing business of chipmaker Rambus. The assets acquired were formerly known as Bell ID and Ecebs Ltd. Financial terms were not disclosed.

B2B 79
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How the Indiana Service Contract Act Could Save Dealers on Taxes

Katz,Sapper&Miller

The state of Indiana has adopted statutes that regulate the offering, selling, or issuing of service contracts in the state.1 These statutes provide the requirements for a service contract that is sold within the state, and they may provide dealers within the state an opportunity to save significant federal and state income taxes.

Indiana 49
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Why PayPal Agreed To Take A Seat At Libra’s Table

PYMNTS

In the aftermath of Facebook ’s unveiling of Libra and its Calibra wallet, among the many questions raised was how it managed to get so many of the “who’s who” in payments at the table. That was the question Karen Webster had for PayPal Chief Operating Officer Bill Ready when she learned that PayPal was one of those players. The vision, she agreed, is undeniably big, bold and targeted at a worthy goal: the inclusion of the 1.7 million people worldwide who are unbanked, and exist on the financial

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The Data Breach Case Against Facebook Is Moving Forward

PYMNTS

Facebook is still legally on the hook for a September data breach that affected 30 million of their customers. Hackers were reportedly able to exploit several software failings in order to obtain login access to consumer accounts. Facebook had moved to have the case dismissed — but a federal appeals judge has shot down that argument, saying the case against Facebook for negligence and for failing to secure users’ data will proceed.

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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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How ACH Business Payments Pave The Way For US Open Banking

PYMNTS

In B2B payments, corporates’ continued use of paper checks confounds FinTech firms working to give businesses more affordable, faster and more efficient payment options. Yet, for many business payers, the reason for using checks can be quite straightforward: It’s simply the way payments have always been made. However, new small businesses (SMBs) being launched by a new generation of entrepreneurs aren’t bogged down by decades-old processes and systems that limit flexibility and

B2B 74
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Retailers Show The Path Forward On AI Innovation

PYMNTS

Retailers are getting smarter about artificial intelligence (AI), and the latest example of that innovative effort comes from Walmart. According to a new report , the retail chain, hoping to reduce checkout theft, is turning to cameras powered by AI, with deployments underway in some 1,000 stores. “The retailer began investing in the surveillance program, dubbed Missed Scan Detection, several years ago in an effort to combat shrinkage — loss due to several causes including theft, scanning errors

Retail 73

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Goldman Sachs Eyes Digital Coin For Payments

PYMNTS

In a move that could mirror the playbook of JPMorgan Chase CEO Jamie Dimon, Goldman Sachs Group Inc. Chief Executive Officer David Solomon said in an interview with a French newspaper that he is “absolutely’’ taking a look at cryptocurrencies. Solomon also noted the bank is in the process of “extensive research’’ when it comes to tokenization, Bloomberg reported.

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Instagram Aims To ‘Unlock’ Value Through Shopping Features

PYMNTS

Through a long-term vision to take on the desire of users to window shop and amp up retail, Instagram Head Adam Mosseri seeks to “connect the dots thoughtfully” between sellers, shoppers and “influencers” on the app. The idea is to “unlock” value by rolling out features like “native checkout,” the Financial Times reported. The shopping effort, however, is a longer-term plan and would need infrastructure.

Gaming 66
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Hearings Scheduled For BB&T, SunTrust Merger

PYMNTS

The House Financial Services Committee has scheduled hearings about the proposed merger between BB&T and SunTrust Banks, as well as the Facebook-planned cryptocurrency Libra. According to American Banker , the committee will meet July 17 to examine Facebook’s proposed cryptocurrency and its impact on consumers, investors, and the U.S. financial system.

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Real-Time Payments Have Numerous Real-World Applications

PYMNTS

Everyone seems to want faster payments — from gig workers to B2B suppliers to parents splitting expenses — but with not all major financial institutions on board, real-time payments stand at lower chance for mass adoption. According to an earlier Faster Payments Tracker , it was projected that more than 56 real-time payment rails will be live by 2020.

payroll 65
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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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In The PSD2 Age, Banks Must Think Like FinTech Firms

PYMNTS

With the Strong Customer Authentication (SCA) compliance deadline less than four months away, banks are still underprepared. While banks continue to open their application programming interfaces (APIs) to third-party providers and FinTech firms, many are still in the dark when it comes to SCA. Merchant partners are also scrambling, with just 40 percent of merchants within the EU currently stating they will be ready by September 2019.

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Securing The Self-Serve Store

PYMNTS

Consumers want the immediacy of brick-and-mortar shopping without sacrificing eCommerce convenience. They may enjoy strolling the aisles of physical retail, but many customers still want support features that enable them to quickly and easily find and buy items, through self-serve offerings and other automation technologies. Today, most automated retail models tend to follow either an Amazon Go -style, cashierless store or an intelligent cabinets approach.

Retail 62
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Innovative Approaches To The $4.2T Health And Wellness Market

PYMNTS

It seems every firm is trying to find a way into the expansive — and ever-growing — “health and wellness” market. As of 2018 health and wellness was a $4.2 trillion annual industry , having grown 12.8 percent between 2015 and 2017, according to the Global Wellness Institute. The industry now represents 5.3 percent of global economic output. “As people incorporate more of the wellness values into their lifestyle, our interaction with the wellness economy is also becoming less episodic and more in

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Creative Group FinTech Lands $25M To Expand Into 30 Countries

PYMNTS

Amsterdam-based startup Creative Group announced it has raised €22 million in funding from Prime Ventures. The funding will be used to help the company expand to 30 countries by the end of next year. Founded in 2010, Creative Group enables customers to digitally buy or send prepaid credit to spend with their favorite brands, as well as to send cross-border credit remittances.

Sales 60
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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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Brazil’s Big Blockchain Bounce (And Other Digital Payments Advances)

PYMNTS

The digital payments news out of Brazil has been fast and furious over the last few weeks – particularly when it comes to blockchain. And while the continual drumbeat of announcements from various players looking to find new and inventive ways to apply distributed ledger technology to various parts of Brazil’s financial services industry has something of a tendency to stand out, digital payments and banking news in general has been coming quick and constant.

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SMBs May Get More Time To Adopt New Accounting Standards

PYMNTS

Financial regulators are considering allowing smaller businesses (SMBs) more time to comply with sweeping changes in lease accounting standards, which experts have said will place a significant burden as organizations work to comply with the requirements. Reports in Accounting Today last week said Financial Accounting Standards Board (FASB) Chairman Russell Golden revealed that it is considering extending the compliance deadline for small and private firms by as much as two years. “At a pu

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The Case For Localizing Mom-And-Pop Investment

PYMNTS

When small business (SMB) investment marketplace MainVest announced a $3 million Seed funding round last week, it did something that many Main Street SMBs cannot do. Companies are staying private longer, lengthening initial public offering (IPO) cycles and lowering benefits for the average investor, MainVest Co-founder Nick Mathews told PYMNTS in a recent interview.

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Kount Launches New AI Tool To Detect Fraud

PYMNTS

Digital fraud prevention company Kount has launched a new artificial intelligence (AI)-driven solution to enhance payments fraud prevention. The company said this latest solution creates the closest simulation of the decision process of an experienced fraud analyst, but in a faster, more accurate and more scalable manner. Kount’s AI uses both supervised and unsupervised machine learning, along with additional calculations to deliver a near-human decisions so that companies can control revenue, f

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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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Marketplaces’ Cross-Border Future

PYMNTS

All the world’s a marketplace. Apologies to the Bard — and some of our high school English teachers — for tweaking that famous line. Yet, when one views the global digital economy and landscape, it’s easy to think that the whole world of retail is, indeed, moving toward a future that will be defined by online marketplaces. Sure, eBay led the charge, and Amazon now dominates, but retailers and service providers of all types are building their own marketplaces — an effort that is also bringing pro

B2C 57
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New eBay APIs Give Developers Access To Managed Payments Program

PYMNTS

Online marketplace eBay has introduced numerous new API capabilities to enable developers to manage their businesses at scale, the company said in a blog post. “Our goal is to empower developers, enhance the ecosystem of eBay applications and add value for our buyers and sellers,” eBay said. The company launched the new Finances API, which aims to give developers a better view of eBay transactions and to allow for easier payouts to banks accounts.

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Global Regulators Circle Libra’s Crypto Wagon

PYMNTS

Two more financial regulators have warned that they won’t allow Facebook ’s planned cryptocurrency, Libra , to launch without looking at it closely. The international Financial Stability Board (FSB) and the U.K.’s Financial Conduct Authority (FCA) have joined the Bank of England (BoE) and the G7 in speaking out about the need to thoroughly vet Facebook’s plans to release Libra next year.

Retail 56
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BIS Calls On Politicians To Coordinate Tech Regulation

PYMNTS

As tech firms such as Facebook move into the world of finance, the Bank for International Settlements ( BIS ) said on Sunday (June 23) that politicians need to coordinate regulatory responses to risks provided by these companies coming into the space. BIS said that the social media firm’s recent announcement that it aims to roll out its Libra digital currency and grow into payments has focused the minds of central bankers as well as regulators, Reuters reported.

Finance 56
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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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Nearly 20 Pct Of Bitcoin Traders Have Been Hacked

PYMNTS

A new survey has found that 19 percent of bitcoin traders have been the victim of a hack on cryptocurrency exchanges, while 15 percent of consumers have been hit with crypto fraud. The report , “Uncharted Territory: Why Consumers are Still Wary about Adopting Cryptocurrency,” also found that only one in ten people truly understand how cryptocurrencies work, and 29 percent have “some knowledge” of digital currencies, with that lack of knowledge stifling mainstream adoption.

Finance 55
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FedEx Looks To Woo Merchants With Low Air Freight Prices

PYMNTS

As FedEx is nearing the end of its contract with Amazon , it is gearing up to raise the level of its competitive game by offering big discounts to pack its planes full. The delivery and logistics giant is looking to reset its delivery network, which has fallen behind in the era of eCommerce, according to reports in The Wall Street Journal. The price cuts will come for members of FedEx’s Express network, according to people familiar with the matter.

Legal 55
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Restaurants That Aren’t Ready For A Mobile Future Risk Losing Out

PYMNTS

Mobile food ordering moved from niche to mainstream in just a few years. According to the new Mobile Order-Ahead Tracker , the volume of food and beverage orders placed via mobile apps grew by 130 percent between 2016 and 2018. Currently, 60 percent of U.S. consumers order delivery or takeout once a week. Due to this rapid growth, it is forecast that the mobile order-ahead market will reach $38 billion by next year.

Sales 55
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When Clothing Shopping Is All About The Experience

PYMNTS

In the digital age of shopping for clothes and accessories, modern-day consumers don’t want retailers to entertain them: Instead, they want these merchants to bring them an easy experience, offering seamless shopping in store and online. According to the PYMNTS Connected Consumer Playbook , “Consumers may not call that ‘omnichannel,’ but that’s clearly what they want their favorite merchants to enable for them.

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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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Fundbox And OroCommerce Team To Break The $3.1T Trade Credit Logjam

PYMNTS

Call it the $3.1 trillion problem — or the $3.1 trillion gridlock. As reported by PYMNTS just last month, in collaboration with Fundbox via The Trade Credit Dilemma Report , as much as $3.1 trillion net is owed in accounts receivable for U.S. firms across any given day. It’s inefficient at best, a growth killer at worst. In one pact aimed at tapping into those trillions, Fundbox said on Tuesday morning (June 25) that it has been selected by B2B eCommerce software provider OroCommerce to provide

B2B 54
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Can Age Verification Standards Save The eCigarette Business?

PYMNTS

Now that San Francisco is on the verge of banning eCigarettes, the question naturally turns to whether other municipalities and states will follow suit. Will that happen? “Likely not wide scale. However, this will immediately initiate a more constructive conversation,” said Scott Hardy, vice president of BankCard USA , in a new PYMNTS interview (the company owns AgeChecker.Net age verification software).

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BofA Debuts Digital Debit Card

PYMNTS

Bank of America (BofA) announced on Tuesday (June 25) that it’s launching a digital debit card, according to a release by the company. It’s also making other additions to its banking app to help customers handle their finances while they’re on the move. “This digital debit card has the same protections and benefits of a physical debit card and is immediately available to use in the mobile app.

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US Rep Calls For Action On Predatory SMB Lending

PYMNTS

U.S. Representative Nydia Velázquez (D-NY) is calling on lawmakers to address predatory lending to small businesses (SMBs), The Washington Post reported on Thursday (June 27). Velázquez spoke during a House Small Business Committee hearing in Washington, D.C., pointing specifically to the use of confessions of judgment — a controversial contractual agreement that requires small businesses to accept liability and damages without normal court proceedings. “By ending confessions of judgment i

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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.