Sat.Jan 25, 2020 - Fri.Jan 31, 2020

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Why Amazon And Other Retailers Are Turning To Biometrics

PYMNTS

Retail keeps embracing numerous new technologies, and biometrics is not only one of them, but an area of recent growth and development, including via some of the biggest names in commerce. Take Amazon, which continues to expand its brick-and-mortar retail footprint, and the technology underlying those stores. The company is apparently making a bet that the future of retail, and retail payments, will involve consumers’ hands.

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Don’t Forget to Collect State W-4 Forms from New Hires

Patriot Software

When you hire new employees, you need to collect information to verify employment eligibility and run payroll. Federal Forms W-4 and I-9 are just the beginning when it comes to new employee forms. You may also need to collect state-specific forms, including your state’s W-4. What is the state W-4 form? What is a state […]. The post Don’t Forget to Collect State W-4 Forms from New Hires appeared first on Patriot Software.

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2020 Tax Considerations for Buy Here – Pay Here Dealers

Katz,Sapper&Miller

Another year has begun, and taxes are on the minds of many. But instead of thinking only about filing a tax return, what should buy here – pay here dealers be considering in 2020? Here are a few financial and operational issues to consider – as well as their tax implications.

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2020 Firm Leadership Announcements

DMCL

We are excited to announce Fraser Ross, CPA, CA as the new DMCL Office Managing Partner, effective January 1st, 2020. Fraser has been a partner in our Private Enterprise group since 1999. He provides accounting, assurance, taxation and business advisory services to owner-managed businesses, not-for-profit organizations and individuals. Fraser also specializes in providing audit, review and compilation services for privately held enterprises, personal and corporate tax planning and compliance, an

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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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California Lets Aurora Operate Driverless Cars

PYMNTS

Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The California Public Utilities Commission ( CPUC ) granted the company an official authorization, showcased on the official Aurora website. “This permit lets us give rides powered by the Aurora Driver and shows that we’re committed to being good partners to California and the Commission,” an Aurora spokesperson said.

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Starting Your Own Dental Practice

DentalAccounting

If you have kicked around the idea of starting your own dental practice and think you are ready, then this article is for you. To avoid many of the pitfalls and risk associated with starting a new business, here are some things that you should be asking yourself and considering. Self-Assessment. Choosing an Entry Strategy. Develop Business Plan. Start-Up Costs.

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Kobe Bryant’s VC Firm Holds More Than $2B In Assets

PYMNTS

Kobe Bryant , who died Sunday (Jan. 26), was a well-known businessman and leaves behind a strong legacy of savvy investing and mentoring, according to a report by CNN Business. He was 41 at the time of his death. “For 20 seasons, Kobe showed us what is possible when remarkable talent blends with an absolute devotion to winning,” NBA Commissioner Adam Silver said in a statement Sunday. “… He was generous with the wisdom he acquired and saw it as his mission to share with future generations

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Deep Dive: Fraudsters Go Phishing

PYMNTS

Businesses have good reason to be concerned about data breaches. Fraudsters’ attempts to access systems and steal valuable information are becoming more innovative, and research suggests they are also increasingly successful. Cybercriminals’ accomplishments come at the expense of targeted businesses, with a recent study finding that individual data breaches cost firms around the globe an average of $3.92 million in 2019 — a 1.5 percent increase from 2018.

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SoftBank To Lead $125M Round For LATAM FinTech AlphaCredit

PYMNTS

Latin America-based AlphaCredit has signed up for a funding round to raise $125 million, led by SoftBank’s Latin America fund. AlphaCredit is a FinTech platform with a focus on consumer lending and finance solutions. It provides credit lines to individuals and has usually worked in communities without much access to banks. In Mexico and Colombia, it has loaned more than $1 billion total to various clients.

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Visa Logs 700M Visa Direct Transactions, Contactless Payments Surge

PYMNTS

Visa ’s fiscal first-quarter results showed an acceleration of cross-border volumes, while contactless payments continued to gain ground in the U.S. and beyond. Headline results showed earnings per share of $1.46, which missed consensus by a penny. Net revenues of $6.05 billion were up 10 percent year on year and were also lower than consensus, which was $6.08 billion.

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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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Farfetch Raises $250M To Grow Luxury Fashion Platform

PYMNTS

Farfetch, a luxury technology platform, has raised $250 million from Tencent and Dragoneer through the sale of convertible senior notes, according to a release. Tencent is a global technology company based in Shenzhen, China, and Dragoneer is an investment firm based in San Francisco. Each company will purchase $125 million of the notes. “I am pleased to have Tencent and Dragoneer as part of the Farfetch investor base.

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As Classic Video Games Turn Into Collectibles, Can eCommerce Keep Up?

PYMNTS

Here’s a truth about human beings: We’ll collect — and resell and profit from — just about anything. And the latest big trend in collectibles combines what amounts to a hat-tip to essentially ancient digital culture with up-to-date eCommerce. It seems that old-fashioned video games are that hot new item, assuming they are in pristine condition and come in factory packaging, according to a new report in The New York Times.

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Grocery Stores Shutter In-Store Pharmacies

PYMNTS

Supermarket pharmacy counters are closing across the U.S. as they struggle to keep customers coming back. The move, happening in states as varied as Washington, Minnesota and everywhere in between, comes as customers have been making fewer trips to visit pharmacy counters while doing grocery shopping. Also, the large hand of big pharmaceutical companies has had an influence.

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The Gig Economy Grows Up

PYMNTS

Less than 20 years ago, freelancers were still a workforce oddity. They came and went kind of invisibly, taking on overflow work from full-time staffers, floating between different companies and assignments. Even taxi driving was a full-time profession, back when freelancers were rare. Skip ahead to the present-day gig economy , chiefly a byproduct of the Great Recession, when firms shed workers in the millions and whole industries contracted or vanished.

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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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1200+ Retail Store Closings Announced So Far In 2020

PYMNTS

The new year has not been kind to retail stores around the country, as the trend of accelerating store closings continues, according to a report by Yahoo! Finance. Macy’s, JCPenney, Papyrus, Express and Pier 1 Imports, among other retailers, have reported 1,218 closings this year already, according to data from global marketing research firm Coresight Research.

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Commerce Bank, Progressive and Visa Team On Real-Time Insurance Payouts

PYMNTS

Commerce Bank will strive to provide timely and convenient payments with its new partnership with Progressive Insurance in what they tout as a “truly strategic combination.” According to an emailed press release, the new program will be called CommercePayments PreferPay. It will focus on providing customers, claimants and service providers with numerous options on how to pay, including ACH, check, or direct-to-debit card via Visa Direct.

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PayPal Hits 305M Active Users In Q4, Cautions Future Economic Uncertainty

PYMNTS

PayPal put on a strong finish to 2019, managing to beat analyst estimates nearly across the board in terms of revenue, active usership and total payments volume processed. However, despite a solid holiday quarter, the digital payments giant found stock trading concerns about its Q1 forecasts. Chief Financial Officer John Rainey commented that there are some concerns about economic uncertainty to warrant caution, despite trends currently remaining strong.

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New EU Policy Pushes For Data Sharing To Foster Blockchain, AI Use

PYMNTS

The EU is looking to adopt new antitrust rules that will aim to give European companies more leeway in the market. The new rules, described by Reuters as protectionist, will be unveiled in March. Documents obtained by Reuters show that the EU wants to adopt a strategy of utilizing more aggressive trade defense instruments against companies thought to be unfairly benefiting from foreign subsidies.

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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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Breach Exposes Personal Data Of 1.2M SpiceJet Passengers In India

PYMNTS

A breach of India’s SpiceJet, one of the country’s biggest independent airlines, exposed the data of more than a million passengers, per a report on Thursday (Jan. 30), citing a security researcher. The cyberattack exposed records that included passengers’ names, contact information and birthdates, the researcher told the news outlet. Some of the affected customers were said to be authorities.

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Deep Dive: How Credit Unions Juggle Cybersecurity Myths For Cloud Computing

PYMNTS

Cloud technology has lost some of its mystique in recent years, and consumers’ improved understanding has led to a boost in demand. The cloud computing services market was expected to see 17.2 percent growth and reach a global value of $200 billion by the end of 2019. The final figures have yet to be tallied, but it is clear such tools and software are viewed as essential to quickly transferring data.

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The Acceleration Of Payment Rails, Old And New

PYMNTS

When it comes to payment rail innovation, transaction speed is often the catalyst driving change. This week’s examination of the latest innovation initiatives finds this to be true both for innovators exploring ways to improve existing rails — like ACH — as well as those that have embraced the development of entirely new rails, including real-time payments (RTP) and blockchain-powered transactions.

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Even CEO: Why Savings Is The Key To Breaking The Paycheck-to-Paycheck Cycle

PYMNTS

In the paycheck-to-paycheck economy, estimates vary slightly. Some analysts have reported that roughly 65 percent of all U.S. workers now live paycheck to paycheck, and a large fraction of those workers struggle to pay their bills. A PYMNTS study, done in collaboration with Mastercard, found that nearly 30 percent of gig workers — currently more than one-third of the U.S. workforce — live paycheck to paycheck, and have no savings to cover unforeseen expenses in the event of an emergency.

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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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Airbnb Taps Former Disney President To Head Up Airbnb Experiences

PYMNTS

Airbnb has hired Catherine Powell, a 15-year Disney veteran, to head up its Experiences division, the firm announced this week. She was hired ahead of the company’s expected initial public offering (IPO) coming up soon this year. The Experiences division handles things like tours and other activities, such as cooking classes for guests. The Experiences division was launched in 2016 as a way to expand into new services encompassing more of the travel industry.

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Monzo Courts SoftBank As Part Of £100M Capital Raise

PYMNTS

British banking unicorn Monzo is in talks with Japanese investment conglomerate SoftBank for financial assistance in its growth plans into the U.S. Monzo Co-founder Tom Blomfield sat down with senior officials from SoftBank’s Vision Fund, sources told The Telegraph on Sunday (Jan. 26). The digital bank is looking to raise around £100 million (nearly $ 130.6 million USD) in new funding.

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Making Money When It Rains Iguanas

PYMNTS

Dale Carnegie, America’s first self-help guru and author of “How To Win Friends & Influence People,” famously coined the phrase “when life gives you lemons, make lemonade” as a practical aphorism for dealing with adversity. But this week, the people of Florida have an unusual rejoinder. Lemons they know how to deal with – the state is the nation’s leading producer of citrus fruits and its third-leading producer of lemons (following California and Texas).

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MacKenzie Bezos Unloads $400M In Amazon Stock

PYMNTS

The ex-wife of Amazon Founder and CEO Jeff Bezos, MacKenzie Bezos, has sold $400 million of her stake in Amazon, according to a report by CNBC. The move was reported on Friday (Jan. 24). The sale was filed under her husband’s name, as he owns sole voting control of her stake. MacKenzie’s stake is now 19.5 million shares, about 200,000 less than the 19.7 she got through the divorce.

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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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FICO’s Take On Debit Security

PYMNTS

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. This payment rail’s use is going strong in the United States, with debit card penetration reaching 78 percent in 2018.

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The Benefits Of Virtual Cards For B2B Payments

PYMNTS

Virtual credit cards are one of the more flexible electronic payment methods available, and the world continues its steady march toward greater digital payment use. These 16-digit credit card numbers are created for one-time purchases at set amounts, and the convenience, security and speed they provide are allowing them to take hold in the B2B payments space.

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Fraudsters Try New Spins On The BEC Scam

PYMNTS

The Business Email Compromise (BEC) continues to evolve. Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity. New analysis from Bank Info Security , for instance, revealed that BEC scammers have begun to target corporates’ financial documents from accounts receivable departments to identify unpaid invoices, as well as information regarding Days Sales Outstanding and clients.

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Yandex, The Russian Google, Has 15-Minute Grocery Delivery 

PYMNTS

Russia’s biggest technology firm, Yandex NV, launched an online service that uses bike couriers to bring groceries to Moscow residents in 15 minutes, Bloomberg reported on Tuesday (Jan. 27). . The free service, called Lavka, stocks roughly 2,000 items and plans to operate as a digital convenience market for items like toothpaste and condoms. Yandex launched 20 years ago as a search engine Google with a variety of online services, including ride-hailing and restaurant deliveries.

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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.