PASBA
SEPTEMBER 25, 2019
The competition for accounting clients can be as intense as in any other industry. That’s why it makes sense to pay attention to client services and frequently expand or improve what your firm offers. Talk to your clients and others in the industry to find out what they really expect of their accountant and what would make them most likely to leave for a competitor or stay with your firm indefinitely.
PYMNTS
SEPTEMBER 24, 2019
Financial providers worldwide are working to give small and medium-sized businesses (SMBs) quick access to their funds. Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits.
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Katz,Sapper&Miller
SEPTEMBER 25, 2019
Katz, Sapper & Miller’s Mike Lee, a partner in the firm’s Transaction Services Group, will moderate a panel at the 2019 Indiana University Kelley School of Business Private Equity Conference. Taking place on Oct. 24 at the JW Marriott in Indianapolis, the event will gather private equity specialists, investment bankers, and industry professionals to discuss key industry dynamics and strategies.
PYMNTS
SEPTEMBER 25, 2019
The U.S. House of Representatives passed H.R. 1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept. 25). The bill was sponsored by Congressmen Ed Perlmutter of Colorado, Denny Heck of Washington, Steve Stivers of Ohio and Warren Davidson of Ohio, all members of the House Financial Services Committee. The legislation aims to ensure that state-authorized and regulated cannabis businesses are not forced to operate with cash only.
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PYMNTS
SEPTEMBER 26, 2019
If for nothing else, Uber and Lyft will be remembered for one big thing: making payments all but invisible via a seamless transaction process that was pretty much revolutionary. In a short amount of time, that ideal has become the general gold standard for digital and mobile payments and commerce, a guiding light for all types of companies in all kinds of sectors.
PYMNTS
SEPTEMBER 21, 2019
It’s National Cyber Security Awareness Month, and industry leaders are zeroing in on some of the most vulnerable targets of cyber scams: small businesses. Stronger passwords. Paying closer attention to suspicious emails. Using public wi-fi with caution and safeguarding mobile apps. They’re just a few basic rules of thumb for small business owners to help mitigate the risk of a cyberattack, according to Matrix Integration; however, as president Nathan Stallings warns, as cyberattacks
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
SEPTEMBER 23, 2019
Two Apple iOS 13 users took to Reddit to share some payment security issues they faced when using the tech giant’s newest iteration of its operating system, according to reports. Apple has already announced it will release iOS 13.1 on Tuesday (Sept. 24) to fix problems concerning reliability and usability. Two users said they were trying to update their payment information when another person’s information popped up in the information box.
PYMNTS
SEPTEMBER 23, 2019
The phase 1 implementation of the ISO 20022 migration strategy that was scheduled for November 2020 is being postponed by the Federal Reserve Bank, the U.S. central bank said in a press release on Monday, Sept. 23. The Payments Market Practice Group asked the Federal Reserve to reassess its approach to the project, which involves a three-phased migration to the ISO 20022 messaging standard for the Fedwire Funds Service.
PYMNTS
SEPTEMBER 23, 2019
American Express announced it is planning to roll out a new real-time product that will let U.K. consumers pay for goods and services online, the company said in a press release on Monday (Sept. 23). Its Pay with Bank Transfer will be offered in Q4 to U.K. bank account holders even if they are not American Express cardmembers. American Express is teaming with eCommerce merchants across a variety of industries, including Thai Airways, Hays Travel, the Royal Lancaster London hotel and others.
PYMNTS
SEPTEMBER 25, 2019
Platform economies want to make it easy for consumers to join. After all, scale means everything. But where there’s scale — millions of users and masses of digital IDs — there are, of course, fraudsters lying in wait and plying their trade, stealing IDs and money. And it may be the case that in the tradeoff between convenience and security, companies would do well to start looking harder into whether identity verification efforts need to be stepped up a bit, even if that means injecting friction
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
SEPTEMBER 22, 2019
Ecuador ’s government has rushed a draft privacy law to Congress after the nation was hit with a massive data breach impacting more than 20 million people. The breach, according to the Financial Times , was discovered by researchers at VPNMentor , who reported that the data was found on an unsecured server owned by Novaestrat, a data analytics company in Ecuador.
PYMNTS
SEPTEMBER 22, 2019
Data from the Pew Research Center shows that 52 percent of American adults live in “ middle class ” households, with the median income at $78,442 in 2016. According to Pew, the middle class is defined as adults whose annual household income is two-thirds to double the national median, after being adjusted for household size. The data found that about one-fifth of American households are considered upper class, while 29 percent are lower class.
PYMNTS
SEPTEMBER 24, 2019
For bitcoin, and perhaps cryptocurrencies in general, does the future lie in … futures? As reported this week, the first bitcoin futures contracts that in turn settle in that marquee name in crypto started trading Monday (Sept. 23). Thinly, as Bloomberg noted. The move is being heralded as a “new chapter” in bitcoin’s storybook. The initial foray of the Bakkt/ICE futures on the Bakkt Exchange does indeed seem muted.
PYMNTS
SEPTEMBER 24, 2019
Trust is the backbone of digital commerce. Knowing who’s on each side of the transaction, and verifying their identities, is the backbone of trust. That sentiment was underscored earlier this month when South Korea said it would delist a number of altcoins from an exchange over privacy concerns – namely, the anonymous nature of the transactions are at odds with the goals of the Financial Action Task Force (FATF), which include combating money laundering and fraud.
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
PYMNTS
SEPTEMBER 22, 2019
PayPal has decided to once again collect a fee when a seller issues a refund. While the company had rolled back the policy in April, it has decided to reinstate collecting the initial 2.9 percent commission fee sellers give up during a transaction, even when the seller is refunding a customer in full. “Earlier this year, PayPal updated its User Agreement to change our refund policy,” a PayPal spokesperson told The Verge.
PYMNTS
SEPTEMBER 24, 2019
The director of the Financial Crimes Enforcement Network (FinCEN), Kenneth A. Blanco, gave a speech at the 2019 Federal Identity (FedID) Forum and Exposition on Tuesday (Sept. 24), to talk about digital identity today, how safe it is and what the agency is doing to protect it against financial crimes, according to prepared remarks. . One of the biggest problems, Blanco said, is account takeover. .
PYMNTS
SEPTEMBER 23, 2019
Amazon researchers have published a paper revealing what they have found to be a better way to select an architecture when crafting an artificial intelligence (AI) model. In “ On the Bounds of Function Approximations ,” the researchers explained that they were trying to establish a framework to better understand the computational bounds of Neural Architecture Search (NAS) in relation to its search space.
PYMNTS
SEPTEMBER 23, 2019
Big Brother will keep an eye on Chinese businesses as the government’s social credit system compiles data on the country’s 1.4 billion people, The New York Times reported on Sunday (Sept. 22). As China increasingly becomes a market economy, the government is becoming more concerned about improper conduct in the marketplace. Various agencies in the country are sharing information like copyright violations and payroll figures so a comprehensive database can be created.
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PYMNTS
SEPTEMBER 22, 2019
Amazon has expanded its two-hour delivery service for Whole Foods customers to almost 30 cities in an attempt to take on Walmart. The eCommerce giant launched a pilot program in August, using the purchase histories of Whole Foods shoppers who use their Prime memberships to suggest the same products on its main website with the bonus of free two-hour delivery.
PYMNTS
SEPTEMBER 24, 2019
Silicon Valley credit card startup Brex has begun a points transfer partnership for its rewards program with JetBlue Airways , Brex announced in a press release on Tuesday (Sept. 24). The partnership allows customers to use Brex rewards points on JetBlue’s TrueBlue loyalty program. “ JetBlue is an innovative and exciting brand and Brex is thrilled to offer access to their valuable TrueBlue loyalty program within the Brex Rewards platform,” said Brex Co-Founder and Co-CEO Henrique Dubugras.
PYMNTS
SEPTEMBER 27, 2019
Crypto startup RSK will buy Spanish social media network Taringa in a bid to expand and to gain access to the platform’s 20 million users, according to a report by Forbes. RSK, a subsidiary of IOVLabs, is self-described as the “first open-source, smart contract platform secured by the bitcoin network.”. The partnership will encourage Taringa users to share content and receive cryptocurrency rewards in return.
PYMNTS
SEPTEMBER 24, 2019
Allow us to be blunt: The B2B finance and invoice settlement system is broken. Well, that’s not entirely true – things tend to work pretty well for the largest firms out there, as the largest buyers can basically set their own terms and essentially pay when they want. But for pretty much everyone else, it’s broken. And as Eyal Shinar, CEO at Fundbox , noted to Karen Webster in a new PYMNTS discussion, that’s an approximately $3.1 trillion problem, according to PYMNTS research – and, of course,
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PYMNTS
SEPTEMBER 25, 2019
Innovation can be a blanket term in the banking world. Is artificial intelligence (AI) for anti-money laundering (AML) compliance innovation? Is real-time global payments expanding to new markets? Much focus has been given to fundamentals like the payment technologies needed to support features from transactions on real-time payment rails to instant cross-border payments.
PYMNTS
SEPTEMBER 26, 2019
Consumers, businesses and governments are seeing faster payments as a path to greater convenience and financial security, and this growing demand is spurring payments services providers (PSPs) to meet this need in a swift, secure manner. That consideration includes assessing the potential benefits and risks that come with the two fundamental types of bank payments: push and pull transactions.
PYMNTS
SEPTEMBER 23, 2019
Last week’s launch of the Mastercard Track Business Payment Service, designed to automate payments between the world’s suppliers and buyers, is just one sign that B2B payments are changing. This digital shift hasn’t affected all businesses equally, though. Many industries are still heavily analog, small and medium-sized businesses (SMBs) in particular.
PYMNTS
SEPTEMBER 27, 2019
As WeWork looks to reduce its costs and refocus, the co-working company’s two new co-CEOs reportedly committed in a message to workers to “strengthen our core business” following the ouster of Chief Executive Officer Adam Neumann. That process began by selling Neumann’s private airplane, Bloomberg reported. We Co., WeWork’s parent, is selling the Gulfstream G650 that the company purchased in 2018 for Neumann’s use for meetings as well as travel per an unnamed source in the report.
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PYMNTS
SEPTEMBER 27, 2019
Unilever has revealed that its sales on Amazon are only a small piece of its pie since most of its products sold on the website are priced below $10. “People are surprised that our Amazon business is only a couple of hundred million,” Unilever Chief Financial Officer Graeme Pitkethly said at the Bernstein conference in London, according to Reuters. He noted that his company generated less than 200 million pounds ($246.32 million) in sales from the eCommerce giant last year.
PYMNTS
SEPTEMBER 22, 2019
California Gov. Gavin Newsom signed into law a controversial bill that could reclassify ridesharing and other gig economy workers as employees instead of independent contractors, The Wall Street Journal reported on Saturday (Sept. 21). Although the new law is intended to raise wages and add benefits like unemployment insurance, drivers of rideshare and food delivery companies aren’t so sure they will benefit.
PYMNTS
SEPTEMBER 23, 2019
Financial crimes risk management software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release. Quantifind’s software-as-a-service (SaaS) offerings, which include help with investigations, customer due diligence and alert management, will integrate with Oracle’s Financial Crime and Compliance Management platform.
PYMNTS
SEPTEMBER 22, 2019
SoftBank Group is considering a gamble on Brazil and might advise high-growth firms to invest in the country, Reuters reported on Friday (Sept. 21). “We have around 40 companies that fit in Brazil,” the group’s head in Brazil, André Maciel, told the news outlet during an event at Cubo, a technological hub funded by Itaú Unibanco, the largest private bank in Latin America. .
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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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