Sat.Feb 24, 2018 - Fri.Mar 02, 2018

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HSBC Ready To Test Blockchain Trade Finance

PYMNTS

Banking and financial services firm HSBC says its blockchain-based trade finance solution is ready to launch — in pilot phase, at least. According to Wednesday (Feb. 28) reports by the Global Trade Review , the bank’s senior innovation manager, Joshua Kroeker, held a media call and announced that after developing the trade finance solution for about two years, HSBC is “confident enough to actually do a live transaction” using its blockchain technology.

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Tennessee Issues Nexus Guidance for Transportation Companies

Katz,Sapper&Miller

Tennessee issued the Revenue Ruling #17-08, which details nexus for transportation companies. Below is a summary of this ruling and key points to be aware of as transportation activity nexus is contemplated for the 2017 tax year.

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Trending Sources

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FLEETCOR And Ripple In Payments Pilot Program

PYMNTS

Commercial payments provider FLEETCOR Technologies, Inc. announced news on Thursday (March 1) that it has entered a pilot program with enterprise blockchain solution firm Ripple and Cambridge Global Payments , the international payments provider focused on B2B and owned by FLEETCOR. The companies said in a release that under the terms of the agreement with Ripple , Cambridge — which processes more than $20 billion in B2B cross-border payments annually, across 13,000 business clients — will pilo

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NACHA And IFX Forum Join Forces To Boost API Development

PYMNTS

NACHA and the Interactive Financial eXchange (IFX) Forum have announced plans to combine their organizations to improve the development of standardized Application Programming Interfaces (APIs). The partnership, which is expected to be finalized at the end of the first quarter, will speed up the creation and rollout of standardized banking APIs. “The powerful combination of IFX Forum’s established leadership in financial industry standards, along with additional technical expertise in the area o

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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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Feds File Charges In International Fraud Scheme Involving A Picasso

PYMNTS

For their alleged roles in a massive stock fraud and money laundering scam involving a Picasso, the U.S. Department of Justice has criminally charged 10 defendants. Prosecutors named U.K.-based Beaufort Securities Ltd and two of its managers, among others, in the case, according to news from Reuters. Prosecutors said Beaufort and managers Peter Kyriacou and Vinesh Canaye manipulated the prices of U.S. stocks through “pump-and-dump schemes,” while hiding their ownership in the companies.

Sports 64
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DICK’S Sporting Goods Says It’s Done Selling Assault Rifles

PYMNTS

DICK’S Sporting Goods — one of the United States’ major gun retailers — has decided it no longer wants to be in the business of selling assault-style weapons like the one used in the Parkland, Florida, high school shooting. While the retailer is limiting its stock, DICK’S has also decided it will no longer sell high-capacity magazines that allow shooters to fire more rounds than a traditional weapon would without having to stop and reload.

Sports 63

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Millenials Lose More Money To Scams Than Seniors

PYMNTS

Millennials are apparently reporting losing money to fraud more often than seniors. But when seniors do become financial victims, they typically take a bigger hit than millennials do, the Federal Trade Commission (FTC) said in a press release. Forty percent of those aged 20-29 who reported fraud indicated they lost money, while only 18 percent of those 70 and older said they lost any funds.

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Nearly 50 Percent Of 2017’s ICOs Are Crashing And Burning

PYMNTS

Of the initial coin offerings that blasted onto the scene in 2017 along with the price of bitcoin , 46 percent have failed. That’s according to Engadget , which — citing data from TokenData — reported that of the 902 ICOs in 2017, 46 percent have failed. Among that percentage, 142 never got the funding and another 276 have faded away or were scams. What’s more, the report noted that another 113 ICOs have stopped talking about their project online or haven’t had enough adopters that success will

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In the Gig Economy, (Payments) Speed Thrills, But Added Fees Chill

PYMNTS

The gig economy is out in full force, spanning the globe and any number of jobs, from welding to wedding planning, from knitting to pet sitting. The platform’s the thing, then, that brings the supply and demand together. Or, it should. In the latest Data Drivers, PYMNTS’ Karen Webster, along with Hyperwallet’s Michael Ting, senior vice president of digital markets, delved into the friction that exists in online marketplaces that brings together the gig worker and the gig worker employers …

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Rethinking The Reputation Of The Merchant Cash Advance

PYMNTS

Of all the loan options available to small businesses today, the merchant cash advance (MCA) may not be a borrower’s first choice. Like the payday loan, the MCA has a reputation for high fees, and is sometimes the only option for borrowers with poor credit histories. “The merchant cash industry first started as a product for unbankable clients,” said Andrew Mallinger, COO of PIRS Capital, in a recent interview with PYMNTS.

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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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AltFin Shines As Investor Interest In B2B FinTech Continues

PYMNTS

Toward the start of 2018, analysts began to highlight the potential for venture capital (VC) to embrace the B2B business model. American Banker reported last December that Silicon Valley Bank Head of Payments Strategy and Solutions Reetika Grewal predicted B2B payments to be one of the top targets for FinTech investors, while other focuses with B2B applicability — including blockchain, artificial intelligence (AI) and RegTech — would also be popular with VCs in the coming year.

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Amazon Business Payments Eyed With Giromatch, Degussa Bank Collab

PYMNTS

Germany’s Degussa Bank and FinTech Giromatch are teaming up to help businesses procure via Amazon Business and manage cash flow. An announcement last week said corporate customers of Degussa will be linked to a virtual card they can use to make purchases off Amazon Business. Giromatch will integrate its “digital account view” capabilities for Degussa via application programming interface (API), enabling the bank to make faster business loan decisions with access to transaction data.

B2B 47
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Zensoft Moves To Accept Cryptocurrencies For Enterprise Software Projects

PYMNTS

Enterprise software company Zensoft wants to accept cryptocurrencies from its corporate clients and has announced a partnership with OPEN to facilitate that goal. The companies said Monday (Feb. 26) they are working together to enable Zensoft to accept digital currencies as payment for enterprise software development projects. The software company will deploy OPEN’s API, its blockchain Scaffolds and its State transaction receipts solution.

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China’s Bank Regulator Makes Foreign Investments Easier

PYMNTS

In an effort to bring more investments to the financial sector, the China Banking Regulatory Commission (CBRC) has overhauled rules to make things easier for foreign investors. According to a report in Reuters , citing a statement made by state media agency Xinhua, the CBRC overhauled regulations for foreign banks, eliminating the steps a foreign investor must take in overseas wealth management products and portfolio investment funds.

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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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Alibaba Is Hungry For More Of Food Delivery Service Ele.me

PYMNTS

In a possible deal to strengthen its delivery network in China, Alibaba reported plans to buy out Baidu and other investors in food delivery startup Ele.me. If the deal goes through, Alibaba would control a large portion of the online food delivery business in China, Bloomberg reported. Already, Alibaba owns 23 percent of Ele.me — which translates to “hungry yet?

Retail 46
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Prices Are Going Up To Cover Shipping Costs

PYMNTS

Shipping — by road, sea, air or rail — is becoming more costly as operators across shipping routes push for higher margins. That push has left some of America’s larger retail players like General Mills and Tyson in a rather difficult bind, according to a recent Reuters article. Such firms can either pay more for deliveries and see their own margins take a hit, or pass the costs to customers and risk alienating them with higher prices.

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TRENDING: Buskers Add mPOS To Their Act

PYMNTS

For street performers who swallow fire or twist into contortions, not getting hurt might seem like their biggest concern. But, increasingly, buskers are facing a new hurdle, one that threatens their income rather than their bodies. The problem? With more consumers turning to mobile and card-based payments, few carry cash that can be spared for tips.

Oregon 46
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Amazon’s Alexa Lost Her Voice This Morning

PYMNTS

If Amazon wants everyone to rely on its voice-activated smart assistant Alexa, today revealed that many, many people are doing exactly that; Alexa complaints lodged with the service Down Detector spiked massively on Friday morning (March 2). It appears a regional outage that affected Amazon Web Services (AWS) caused the voice assistant to go temporarily silent.

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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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Is The Putin Family Using An Estonian Bank For Money Laundering?

PYMNTS

Reports out this morning indicated that a whistleblower inside Denmark’s biggest bank warned the institution that its Estonian branch was being used by members of the Putin family as a front for money laundering. That warning was reportedly in 2013. A leaked report allegedly indicated that the leadership at Danske Bank knew “of far more serious conditions than previously stated.

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The Newest Bitcoin Heist – Boosting The Mining Tech

PYMNTS

Why steal bitcoin when you can steal the technology that enables one to make more of it? Clearly, this is the question a group of Icelandic thieves pondered before making their move on 600 computers used to “mine” bitcoin. The hardware was reportedly snatched from data centers in Iceland in what local law enforcement calls the biggest theft in the island nation’s histor y.

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Cardtronics Identifies Crypto, P2P Payments As Business Risks

PYMNTS

As new payment technologies — such as digital coins make it less necessary for people to handle cash, Cardtronics said cryptocurrencies could impact its business. The disclosure was made in a 10-K report to shareholders and was filed with the U.S. Securities and Exchange Commission (SEC), CoinDesk reported. “New payment technology, such as Venmo , Zelle and virtual currencies such as bitcoin or other new payment method preferences by consumers, could reduce the general population’s need or dem

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Mastercard To Launch New Ways To Make Digital Payments

PYMNTS

Mastercard , the payment company, announced a series of digital payment initiatives on Tuesday (Feb. 27) aimed at different segments of the market. In a press release , Mastercard said that as of March 19, Mastercard ’s Qkr! with Masterpass will be available at all U.K. Pizza Hut locations. With the service, diners at its U.K. restaurants will be able to pay for their meals via their mobile phones without having to ask a waiter for the bill, which, the company said, will save customers 12 minu

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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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NEW REPORT: Mueller Indictments Prompt Renewed Look At Social Security Numbers

PYMNTS

In the digital identity space, biometrics have become all the rage. In several markets around the world, biometric solutions are gaining ground among consumers, companies and government organizations. These solutions could shift the way national security agencies in several countries operate, or force employers to change how they authenticate and identify their employees.

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Today In Data: Business Travel Spend, Digital IDs And AI-Powered Banking

PYMNTS

Today in PYMNTS data, businesses spend trillions on travel without knowing where the money goes, Nigeria’s digital identity program will cost millions more than expected and artificial intelligence (AI)-powered chatbots are changing how consumers interact with banks. In addition, auto leasing transactions are getting a modern facelift, and gig workers are looking for better payment options.

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Bitcoin Miner Faces Suit For $5 Billion In Bitcoin

PYMNTS

The man who had claimed to be the founder of bitcoin is being sued for allegedly stealing $5 billion of bitcoin from his former business partner. Craig Wright, who had said he was Satoshi Nakamoto, faces the suit in a Florida court, The Verge reported. The suit claims that Wright was in the business of mining bitcoin with Dave Kleiman, who is now deceased.

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EU Says It Will Regulate Bitcoin If It Has To

PYMNTS

The European Union (EU) announced news on Monday (Feb. 26) that it’s willing to step in and regulate cryptocurrencies if the risks associated with digital tokens aren’t addressed. According to a report in Reuters , citing officials from the European Union , the wild price movements of bitcoin last year and into 2018 has resulted in huge losses for some and big gains for others.

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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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Restaurants Take On Digital Innovation With Mobile Ordering And Payments

PYMNTS

It’s a big job to bring restaurant dining and ordering options to consumers who may use multiple digital channels. To keep up with the pace of innovation as competitors move toward mobile ordering, delivery and payments innovations, Restaurant Brands International (RBI), which owns Burger King and other brands, hired CFO Josh Kobza as its new czar leader in January.

Retail 43
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Sales Of Small Businesses To Spike, Driven By Tax Reform

PYMNTS

New analysis from the International Business Brokers Association (IBBA) suggests small business (SMB) sales will surge in the U.S. this year, driven largely by tax reform. The IBBA, along with M&A Source and the Pepperdine Private Capital Markets Project, announced their research on Monday (Feb. 26), which found that nearly three-quarters of surveyed advisors and brokers predict sales of SMBs in the country to increase this year.

Sales 43
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Apple May Make Wireless Over-The-Ear Headphones

PYMNTS

KGI analyst Ming-Chi Kuo and Apple Insider are reporting that Apple could be making new wireless over-the-ear headphones following the success of its in-ear AirPods. The new devices may be sold under Apple’s own brand, even though Apple owns the Beats headphone brand, TechCrunch reported. The new headphones could appeal to consumers who can’t use the AirPods due to the shape of their ears.

Retail 43
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Viyet’s Second Act At Sotheby’s

PYMNTS

A common problem tends to crop up when it’s time to move: perfectly good furniture and home decor won’t fit a new space. For the “handcrafted” masterworks built out of Ikea boxes and clever renderings of particle board that define most of our national furniture castoffs, Craigslist , OfferUp , LetGo and Facebook’s Marketplace are all perfectly good places to find furniture a new home.

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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.