PYMNTS

JUNE 21, 2020

HSBC Hong Kong ‘s new application programming interface (API) will simplify the payment system for businesses down to a one-stop payment hub, a press release says. The service will let businesses incorporate the instant electronic Direct Debit Authorisation (eDDA) into their own systems, along with real-time funds transfer services. That will allow businesses to eliminate the cumbersome old ways, which required them to sign onto their bank accounts to set up a direct debit instruction and

B2B 143

B2B Technology Account accountant 143

GrowthForceBlog

JUNE 24, 2020

If you are having cash flow issues, it may likely be that you are not pricing your jobs right. But how do you change your pricing strategy during financial uncertainty without pushback from your clients? Stephen King, GrowthForce President and CEO, recently joined Spencer Shaw on The Business Growth Podcast , to talk about the simple steps to get your financials in order, and how to increase prices in a way that customers better understand the value.

bookkeeping services 55

bookkeeping services bookkeeping Account accountant 55

Katz,Sapper&Miller

JUNE 26, 2020

As the effects of COVID-19 continue to wreak havoc on our nation’s economy, there may be no industry more disrupted than manufacturing. While some manufacturing companies are still in survival mode and evaluating whether or not to keep their doors open, others are cautiously transitioning into recovery, picking up the pieces from the pandemic and evaluating how best to move forward.

Manufacturing 53

Manufacturing 53

PANALITIX

JUNE 21, 2020

RESOURCES / ARTICLES. The Business-Building Journey: An interview with Mike Mekhitarian. Building a successful accounting and advisory business doesn’t happen overnight. Mike Mekhitarian, founder of ATB Chartered Accountants and Business Mentors (ATB), shared some highlights of his action-packed journey in an interview with Panalitix founder Colin Dunn.

chartered accountant 130

chartered accountant Non-Profits Account accountant 130

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PYMNTS

JUNE 22, 2020

PayPal will offer direct cryptocurrency sales for customers, CoinDesk reports. The FinTech giant, which has 325 million customers, will allow this feature for those who want a new wallet functionality for the popular service, according to unnamed sources, the report said. It would be an upgrade of the current PayPal functions for withdrawing funds from sources like San Francisco’s Coinbase.

Sales 131

Sales Account accountant accounted 131

PYMNTS

JUNE 22, 2020

Lunchbox is hoping former top Toast executive Sarah Kabakoff will provide the boost needed to take the restaurant-ordering platform to the next level. The New York-based omnichannel restaurant platform announced Monday (June 22) it had hired Kabakoff as vice president of solutions. In her new role, Kabakoff will oversee Lunchbox’s “go-to-market strategy” aimed at giving restaurants an alternative to third-party ordering sites.

New York 130

New York Maine Technology Sales 130

PYMNTS

JUNE 26, 2020

eCommerce has grown about as much in the past few months as it has in the past 10 years. Iain McNicoll , VP of Americas/SMB for payments platform Payoneer , recently told PYMNTS that eCommerce’s market share has risen to 27 percent from just 16 percent when the pandemic began. By contrast, it took a decade for it to hit 16 percent from less than 6 percent 10 years ago.

Retail 127

Retail Gaming Finance Start-ups 127

PYMNTS

JUNE 23, 2020

Ex-Wirecard CEO Markus Braun was arrested Monday night (June 22) in the latest chapter that has rocked the German payment services provider, the Financial Times reported. Braun surrendered to Munich prosecutors after a judge issued a warrant as prosecutors investigate an accounting scandal that centers on a missing 1.9 billion euros ($2.1 billion), prosecutors confirmed on Tuesday.

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auditor Technology audit Account 127

PYMNTS

JUNE 25, 2020

Uber financial services leader Peter Hazlehurst has stepped down from his position as the rideshare company has put its plan to start a digital wallet on hold, Bloomberg reported. The company is instead focused more on ridesharing and food delivery instead of the planned financial expansions. In an email, Uber CEO Dara Khosrowshahi said the company isn’t prioritizing several finance-related projects, such as credit cards, a digital wallet and instant payments for drivers.

accounting and finance 118

accounting and finance Start-ups Finance Technology 118

PYMNTS

JUNE 26, 2020

Ernst & Young ( EY ), the global accounting firm hired to verify Wirecard’s financials, failed to request crucial information from a Singapore bank where the German payment processor claimed it had up to 1 billion euros ($1.1 billion) in cash, the Financial Times reported. That routine audit procedure could have uncovered the vast fraud at the suburban Munich company, the report said.

Account 116

Account accountant accounted auditor 116

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.

PYMNTS

JUNE 26, 2020

Small business lending emerged as a common theme in this week’s B2B venture capital roundup, and it’s no surprise, considering the role small and medium-sized businesses (SMBs) play in supporting their local economies. Some startups focused on data aggregation to expand underwriting capabilities, while others operate platforms to facilitate financing.

B2B 115

B2B Finance accounting and finance accounts payable 115

PYMNTS

JUNE 24, 2020

Messaging app Telegram said a data breach has exposed a database containing the personal information of millions of users, according to a Cointelgraph report. The database, which was exposed on a darknet forum, included users’ phone numbers and unique Telegram user IDs, according to the report. Telegram told Russian tech publication Kod.ru, which originally reported the information on Tuesday (June 23), that the information was exposed through the app’s built-in contact export feature whil

Account 115

Account accountant accounted 115

PYMNTS

JUNE 24, 2020

The insurance industry is all about risk mitigation, and not only when it comes to underwriting policies. Averse to the risk of change, the property and casualty (P&C) insurance arena has been resistant to embrace electronic payments when disbursing funds to claimants. Yet when the global pandemic hit, it became clear to the insurance industry that sticking to paper processes and check payouts can be riskier than embracing digitization.

B2B 114

B2B 114

PYMNTS

JUNE 25, 2020

As accounts payable (AP) and accounts receivable (AR) operations continue to converge for many organizations, buyers and suppliers are increasingly acknowledging the value of using each other’s technology platforms to promote stronger B2B relationships. Now more than ever, buyer-supplier ties form a crucial component of ensuring that cash continues to flow through supply chains — and yet today, late payments and cash flow bottlenecks continue to plague both sides of B2B payments.

Technology 112

Technology accounts payable B2B Account 112

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

Technology

PYMNTS

JUNE 24, 2020

Brazil’s Central Bank has suspended WhatsApp’s payment feature in the country, citing antitrust concerns, according to Bloomberg on Tuesday (June 23). Mastercard and Visa have been requested to stop payments and money transfer services through the app in Brazil as well, the bank said. The bank said the decision was to “preserve an adequate competitive environment that ensures the functioning of a payment system that’s interchangeable, fast, secure, transparent, open and cheap,” Bloomberg reporte

112

112

PYMNTS

JUNE 25, 2020

Global payments automation platform Tipalti says it has made mass, automated payments seamless for numerous popular online video game customers, according to a press release. Tipalti’s move is aimed at helping gaming companies avoid the fraud and risk of online commerce while enhancing their finances with modern solutions, said CEO and Co-Founder Chen Amit , according to the release. “Success in the gaming ecosystem today is all about rewarding their international partners with consi

Gaming 112

Gaming accounts payable accounting and finance Maine 112

PYMNTS

JUNE 25, 2020

Technically speaking, Abingdon Mullin is the CEO of a company that sells watches crafted for women. But realistically, she sells adventure with every one of her aviator watches, which actually got their start back in 2014 when she appeared on Shark Tank. Six years and thousands of watches later, Mullin has survived the formidable inventors’ reality show only to face a global pandemic as the founder and CEO of The Abingdon Co.

Retail 107

Retail Start-ups California Sales 107

PYMNTS

JUNE 23, 2020

New payments infrastructure continues to gain traction with financial service providers looking to modernize their services for business clients. In the U.S., The Clearing House’s RTP finds expansion within the community bank arena, while abroad, the Bank of Thailand is planning its own infrastructure development to accelerate B2B payments. And when it comes to legacy rails, the U.S.

Virginia 106

Virginia B2B Technology 106

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Technology

PYMNTS

JUNE 24, 2020

As the Wirecard scandal unfolds, SoftBank Group Corp. is facing questions about its investment in the embattled German payment services provider, CNBC reported. Last year, the Tokyo-based global conglomerate holding company paid 900 million euros ($1 billion) for a 6 percent stake in Wirecard. But even then, there were concerns about Wirecard’s accounting practices, the network reported.

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audit auditor accounting and finance accounting firms 104

PYMNTS

JUNE 24, 2020

As the world must go increasingly digital — perhaps permanently — people who had resisted the great shift to eCommerce have had to make the leap. Ready or not. Those less tech-savvy individuals represent juicy targets for fraudsters, who have been fine-tuning card-not-present (CNP) schemes to work across all manner of channels during the pandemic as we wield smartphones to make transactions or bank over the phone.

Technology 104

Technology Gaming Account accountant 104

PYMNTS

JUNE 26, 2020

Amazon will reportedly pay more than $1.2 billion to acquire Zoox , the Foster City, California self-driving technology company, the Financial Times (FT) reported. . While the purchase could fuel Amazon’s delivery fleet, a source familiar with the deal told the newspaper it could signal the eCommerce giant’s entry into ride-hailing. The source said Amazon would collaborate with Zoox to create a ride-hailing fleet, taking on Waymo Co, the California-based self-driving industry leader backed by A

California 103

California Technology Retail 103

PYMNTS

JUNE 26, 2020

Telegram consented to a $18.5 million penalty in a U.S. Securities and Exchange Commission (SEC) settlement over an unsuccessful token offering, Coindesk reported. The company will also tell the agency about any intentions for any kind of cryptocurrency issuance in the three years to come. Last year, the SEC sued Telegram following a $1.7 billion raise to back the creation of its Telegram One Network (TON) blockchain initiative.

Government 103

Government Sales Technology 103

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PYMNTS

JUNE 22, 2020

A cyberattack from Maze ransomware against global business and tech firm Cognizant mostly hit the company’s corporate cards that had been issued to employees, the company told authorities, according to The Times of India. The attack was discovered April 20, and officials found that the as-yet-unknown assailants were able to take a “limited amount” of data from the company between April 9 and 11 this year, the report stated.

Technology 102

Technology Account accountant accounted 102

PYMNTS

JUNE 25, 2020

They’re either the fashion accessory of the moment or a life-saving piece of safety equipment. Or maybe they’re both as several types and sizes of retailers step up to sell non-medical face masks. The retail face mask efforts range from small to big companies. On the large end of the spectrum is fabric and craft store chain JOANN , which is tapping into the DIY segment of the need for the masks as teachers and students prepare for a possible return to school sometime in the fall.

Retail 102

Retail Sales Hospitality 102

PYMNTS

JUNE 26, 2020

According to auditor Ernst & Young (EY) , German payment processor Wirecard knowingly gave false statements and was in the midst of “elaborate and sophisticated fraud involving multiple parties around the world” in regards to $2.1 billion on its books that may not exist. The company was involved in deliberate deceit and had given false statements on escrow while EY was carrying out the 2019 audit of the company, which EY took to the relevant authorities, Reuters reported.

audit 102

audit auditor Account accountant 102

PYMNTS

JUNE 25, 2020

When it comes to purchasing a home or attempting to take equity out of a home in cash form — there aren’t an awful lot of options. Debt, by and large, is the option the vast majority of consumers have. And this, Unison CEO Thomas Sponholtz told PYMNTS in a recent conversation has pretty much been in its terms of innovation in the world of homeownership financing since the mortgage was invented in 1192.

Real Estate 102

Real Estate Gambling Finance Entertainment 102

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Finance

PYMNTS

JUNE 24, 2020

The pandemic has spurred a shift in the payments ecosystem, as businesses of all stripes have seen the need to keep cash in the till, to eye the ripple effects that may ripple across their supply chains — especially as disputes take shape. The would-be traveler who finds a trip suddenly canceled may demand a refund. While eCommerce and card not present transactions may have their conveniences, they are also breeding grounds for fraud.

Start-ups 101

Start-ups Account accountant accounted 101

PYMNTS

JUNE 26, 2020

U.S. consumer spending skyrocketed in May for the biggest jump on record, but the news was offset by a drop in personal income and the threat of another wave of economic disruption as coronavirus infections surge in the Sunbelt and now in California as well. Consumer spending jumped 8.2 percent in May, the U.S. Department of Commerce reported on Friday (June 26), representing the biggest increase since the federal government began tracking the number in 1959.

Florida 101

Florida Texas Hospitality California 101

PYMNTS

JUNE 25, 2020

Disney may have thought reopening Walt Disney World in Orlando, Florida next month was a good idea. But as of Wednesday (June 23), more than 7,000 people had signed a petition to postpone the scheduled resumption of operations on July 11 as the number of COVID-19 cases is rising, Reuters reported. The petition was created by Katie Belisle, a Disney World employee who has worked as an attractions hostess for three years, according to her LinkedIn profile.

Florida 101

Florida California B2B Retail 101

PYMNTS

JUNE 25, 2020

While they are among some of the world’s wealthiest corporations, insurance companies have nevertheless been clobbered by COVID-19, from travel cancellations to business disruption policies to a rising tide of property and casualty (P&C) claims. For their part, policyholders aren’t thrilled with the speed of insurance disbursements at a time when having funds in their accounts can mean the difference between shuttering or staying in business.

B2B 100

B2B Technology accounting system Start-ups 100

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"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.

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