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The approach to financial services for consumers and businesses is quite vast, but across the spectrum, access to and management of financial data is a critical component. Today, APIs have become a popular way for banks to share this financial data with other services and have given rise to more possibilities for FinTechs in how they meet their customers’ needs — and more debate about the security of such facilitated information-sharing.
Well…maybe. The allowance for credit losses is the most significant estimate on any set of BHPH financial statements. Since June 2016, when the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) amending the accounting guidance for measuring and recognizing credit losses, many industry accounting practitioners remain conflicted as to the impact this ASU will have on financial reporting practices and some dealers are wondering what this new ASU means for them.
Making a run to the corner store for one item, or even a few small items, can sometimes be a difficult feat to accomplish. Whether it’s lack of time in a busy schedule, transportation issues, proximity to a good store or just plain, “I’m going to stay home in my PJs and not do anything” laziness, convenience store runs can sometimes be more trouble than they’re worth.
At Innovation Project 2017 , Canadian payment solution company Payment Source snatched the top prize in the category of Best Cash Innovation for its in-person payment network Loadhub. PYMNTS caught up with CEO Trevor Cook after the fact to get the lowdown on what’s coming up next for the in-person payment network. Today, consumers can use Payment Source’s Loadhub service to top off a prepaid card or make a bill or collections payment in person.
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.
Magento , an eCommerce platform, announced on Wednesday (April 5) that it will now support B2B capabilities through the launch of its Magento Digital Commerce Cloud for B2B offering. The digital cloud for B2B companies will handle the complex B2B commerce requirements in order to empower manufacturers and distributors to grow and enhance their businesses.
When it comes to learning about a product while walking around a traditional brick-and-mortar store, some consumers ask for help from a store associate, while others turn to their mobile device. In the current retail battle of eCommerce versus brick-and-mortar, the way in which consumers seek out help while shopping in-store may have a profound impact on which side will ultimately win the war.
One of the main drivers in the popularity of distributed denial-of-service (DDoS) attacks among cybercriminals is the favorable cost-profit ratio. Companies that are targeted by this type of extortion can expect to lose thousands, if not millions of dollars, while the perpetrators of the attack can invest as little as $7 an hour to get the attacks off the ground.
One of the main drivers in the popularity of distributed denial-of-service (DDoS) attacks among cybercriminals is the favorable cost-profit ratio. Companies that are targeted by this type of extortion can expect to lose thousands, if not millions of dollars, while the perpetrators of the attack can invest as little as $7 an hour to get the attacks off the ground.
A bill that would encourage SMEs to follow cybersecurity guidelines is making its way through Congress as an addition to existing legislation encouraging the same of large corporates. Reports this week said the bill, the Main Street Cybersecurity Act, is an update to the existing Cybersecurity Enhancement Act of 2014 and would seek for the National Institute of Standards and Technology to develop a set of voluntary guidelines for small businesses to mitigate and prevent cybersecurity risks.
A world without checkout lines and a farewell to the fat wallet were just some of the tantalizing outcomes foreseen as mPOS devices started to make their way into retail stores years ago. Alas, consumers and merchants are still awaiting the realization of the envisioned blissful, wait-free retail utopia that was envisioned a while back. Even as mobile payment technology lets consumers pay with their phones and allows merchants to accept payments away from a cash register, the tech is seemingly s
IPOs may be back for tech and for unicorns. As of this writing on Friday (April 7), Okta looked poised to make gains out of the gate on Friday, with 11 million shares for sale in an offering that had been slated to raise nearly $190 million for the enterprise software firm. And even as deal making got buttoned up, as seen with Cisco and AppDynamics (which was bought for $3.7 billion just before coming public) at the end of last month, the IPO landscape is marked with additional anticipation, as
Slowly but surely, businesses are starting to realize the importance of offering more data-driven, analytics-driven techniques in order to render more real-time decisions for their customers. No longer is the old “set-it-and-forget-it” approach to decisioning enough. Across various industries and use cases, the interest in data analytics and decision management as a tool for keeping pace with the competition and delivering on customer expectations is growing.
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.
International venture capital firm 83North announced that it has closed an oversubscribed new fund at $250 million, which will be used to invest in the best and brightest consumer and enterprise technology companies led by aspiring European and Israeli entrepreneurs. A press release detailed how this latest round of funding is the fourth raised in eleven years, bringing 83North IV’s total capital under management to $800 million. 83North now has a team of five proven investing partners, includin
At this year’s PYMNTS Innovation Project , Admiral James Stavridis , NATO’s former Supreme Commander, said that one of the biggest points of compromise that cybercrooks exploit is the login. And that for far too long, more focus has been placed on password security and management — accessing information — rather than on the effective protection of digital identities — making sure that only the people who should have access to data or systems, get it.
InComm, a prepaid product and transaction services company, announced Tuesday (April 4) that InComm Japan is partnering with Tencent FiT, the provider of WeChat Pay services and part of the Tencent group of companies headquartered in Shenzen, China. In a press release , InComm Japan’s POSA network, which connects with more than 50,000 retail stores in the country, will facilitate customer purchases at the point of sale using WeChat Pay-issued barcodes.
Given that counterfeiting is driven largely by the desire for cheap goods, it can be somewhat shocking to see exactly just how high the annual cost of counterfeiting and digital piracy is around the world. According to the latest edition of “Transnational Crime and the Developing World” recently released by Global Financial Integrity (GFI), the global trade value of counterfeit and pirated goods is estimated to generate between US$923 billion to $1.13 trillion annually.
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.
Moving large items can be one of the more stressful events in life. Whether it’s time to move into a new apartment or pick up a new toilet at a home improvement store, there are many large items that just do not fit into every car. And sometimes people don’t realize an item won’t fit into their car until they’re already at the store with the purchased item.
Staples, the office supplier retailer, is reportedly looking to sell itself. According to a report in The Wall Street Journal citing people familiar with the matter, Staples is in talks with a handful of private-equity suitors. Talks are still in the early stages, and nothing could come of them. The move comes less than a year after Staples failed in its efforts to merge with Office Depot.
In his latest, much perused annual letter to shareholders, JPMorgan Chase & Co. CEO Jamie Dimon gave a mixed assessment of some of the larger issues confronting the United States, touting its strength as a nation even while “it is clear that something is wrong” with this “exceptional country.”. As a new administration settles into Washington, D.C., policy changes may be writ large and small; particularly in Dimon’s own banking industry, his concerns cover expansive ground.
Cross-border payments can be rough seas for any company. Data suggests SMEs in particular are struggling to grow internationally because they fear the consequences of a lack of expertise and knowledge in going global, but corporates of any size expose themselves to new risk when entering new markets. The challenges are vast, from being able to reach customers in an unfamiliar territory to running afoul of local regulations.
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.
Mobile payments might be all the rage in Europe, but they are seemingly far from replacing good old cash. In fact, when it comes to picking a payment method, most European consumers pick cash even over credit and debit cards. According to a recent survey conducted by the European Central Bank (ECB), three-quarters of all point-of-sale (POS) transactions in the Euro zone are paid using cash.
When mPOS solutions started to roll out in retail locations about a decade ago, many predicted a futuristic utopia devoid of long lines and bulging wallets. But these days, that fantasy is still far from reality. Even retailers equipped with mPOS terminals opt not to accept mobile payment, and consumer adoption continues to lag. . But that may be about to change.
B2B FinTechs in the U.S. and India seem to be an unshakable force these days. This week, the two countries were the only markets that landed on the B2B venture capital board, with funding landing at SaaS, Big Data and procurement startups across a range of industries, from corporate social media management to marijuana procurement. PYMNTS breaks down the $24 million in venture capital raised.
High-end retailer Bebe is expecting some major changes as it looks to restructure its business. In a filing with the Securities and Exchange Commission (SEC) on Wednesday (April 5), the specialty women’s apparel chain said it plans to close 21 store locations and will incur an impairment charge of nearly $2 million as a result, CNBC reported. The company will also pay an estimated termination fee of roughly $7.4 million.
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.
Mastercard announced Tuesday (April 4) that Mastercard cardholders from select banks in the United Arab Emirates (UAE) will now be able use the Samsung Pay service to make payments in a quick and secure way. Mastercard said in a press release the move is part of its efforts to displace cash, spur innovation and drive growth of cashless payments in the UAE.
For technology startups looking to expand their reach, crowdtesting has become a key resource to ensure operability on the global market. FinTech Abra, for instance, looks to change the way people around the world send and receive money. Founded in 2014, Abra now supports more than 50 currencies to help users move money virtually anywhere. Many of the world’s unbanked and underbanked cash holders today rely on informal networks to transact in and transfer funds, said George Chlentzos, Abra’s dir
Apple Pay has added more than 20 banks and credit unions in the United States, as well as two new banks in Russia, that now support the payment service, according to 9to5Mac. This announcement follows the launch of Apple Pay in Taiwan and Ireland, as well as the addition of more than 30 banks and credit unions across the U.S., Australia and China late last month.
Eyeo, the creator of AdBlock Plus, has acquired Flattr, a Swedish startup focused on micropayments, with plans to combine the two technologies so that creators can earn more revenue directly from fans rather than having to rely on other companies for income. According to Ad Week , the acquisition will allow Eyeo to use Flattr’s technology to pay creators for their work, while also decreasing clickbait and creating a “quality shield” around engaging content.
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.
Amazon’s latest employee-boosting ambitions will certainly add to the growing stats of workers working remotely. The online retail giant just announced a plan to create over 5,000 new part-time roles over the next year as part of its Virtual Customer Service program. In a nutshell, the program allows employees to work from home as customer service representatives.
Tencent, the Chinese tech giant, has passed Wells Fargo to become the world’s tenth most valuable public company. According to Fortune , before Tencent, all of the top 10 most valuable public companies were American and did worldwide business, with the list including Alphabet, Amazon, Apple, Berkshire Hathaway, Exxon Mobil, Johnson & Johnson, JPMorgan and Microsoft.
Fashion icon Ralph Lauren is finding out the hard way that the retail landscape is changing and not necessarily in his favor. In the age of e-commerce and discounts, it’s becoming harder for brands overall to compete. Consumers seek deals and discounts and care less and less about brand loyalty. Earlier this year, we reported the fashion brand’s departure with its CEO, Stefan Larsson due to creative differences.
Amazon’s success with automation has incentivized an industry-wide warehouse robotics boom. Locus Robotics, for instance, was started in 2015 after Quiet Logistics’ robotics supplier Kiva systems was bought out by the online retail giant, said Bloomberg. Today, Locus sells its robotics solutions to DHL Supply Chain, a unit of the largest third-party logistics company in the world.
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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