Sat.Apr 04, 2020 - Fri.Apr 10, 2020

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IRS Launches Consumer Portal For Getting Stimulus Checks

PYMNTS

A new IRS portal for coronavirus relief payments has been launched in conjunction with the U.S. Treasury to assist people who don’t typically file taxes. . The non-filer tool can be used by U.S. citizens and resident aliens who are not claimed as dependents and had gross income below $12,200 ($24,400 for married couples) in 2019, according to the IRS site.

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COVID-19 Relief for Indiana Property Owners

Katz,Sapper&Miller

With property tax deadlines looming, Indiana property owners are looking for relief in the midst of the COVID-19 crisis. From payment extensions to potential assessment adjustments, there are options that could alleviate immediate financial obligations.

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Bringing AI To The Fight Against Healthcare Payments Fraud

PYMNTS

The coronavirus pandemic poses an unprecedented challenge to healthcare systems that will likely extend for months — and perhaps even years — to come. More than ever, hospitals and other medical facilities need to focus their resources on healing the sick and avoid getting bogged down by administrative costs and inefficiencies. This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sec

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Reimagining The Bank As A Technology Company

PYMNTS

Intimidated by the scale and cost of a massive technological overhaul, large financial institutions (FIs) may approach their digital transformation (DX) journeys gradually, targeting various areas of operations to modernize one-by-one. While this strategy can yield results, it can also create silos, hampering a bank’s ability to achieve one of the most vital goals of DX: seamless integration of operations that boost efficiency and improve the end-user experience.

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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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NEW DATA: 60 Percent Of US Consumers Now Live Paycheck-To-Paycheck

PYMNTS

The COVID-19 pandemic has triggered an unprecedented wave of business closures, placing millions out of work with no telling when they will be back to business as usual. It has also exposed and exacerbated a deeper, more structural problem with the United States economy that has been looming just beneath the surface for some time: A large portion of Americans are living hand-to-mouth and have almost no savings.

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Fed Bets Trillions In SMB Lending That Consumers Will Return

PYMNTS

A quick recovery may be in the cards. But so might a “false start.”. Thursday morning, the U.S. Federal Reserve said that it had launched a multi-trillion dollar lending program that targets smaller businesses, and in a broadened salvo, targets local governments, too. It’s all meant to shore up the U.S. economy, as the fallout from the coronavirus continues.

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LinkedIn On Building The New Digital Corporate Commons

PYMNTS

With a little over 600 million worldwide users, LinkedIn was a household name long before the coronavirus cut an incredibly wide trench through the global economy in general, and the world of working in particular. The social media service for professionals was already the established, favored digital hub for professional networking, job hunting, talent scouting and corporate content.

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Travelex Reportedly Paid $2.3M Ransom To Hackers

PYMNTS

Travelex, the foreign exchange company that was crippled by hackers on New Year’s Eve, reportedly paid a $2.3 million ransom to get their systems back online, The Wall Street Journal reported. Sodinokibi, the alleged perpetrators of the cyberattack, claimed responsibility for the breach. The cybercriminals demanded $6 million in ransom with a promise that they would not release the sensitive information of Travelex customers, including birthdates and credit card numbers.

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Public Procurement Portal BuySpeed Fixes Cybersecurity Flaw

PYMNTS

Procure-to-pay tool BuySpeed , which is used by government entities, was vulnerable to a zero-day, cross-site scripting flaw that has reportedly been resolved, SC Media reported. The CERT Coordination Center at Carnegie Mellon University’s Software Engineering Institute, which had said it was not aware of a practical solution to the bug, had published a vulnerability advisory on the bug found in version 14.5 of the product.

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Starship Technologies Rolls Out Robotic Food Delivery In Arizona

PYMNTS

Amid increasing demand for contactless delivery, Starship Technologies has rolled out a robot food delivery offering in Tempe, Arizona. The firm has been increasing its commercial services, with a plan to expand to 100 colleges by late summer of next year, per reports. Ryan Tuohy, who leads Starship Technologies’ business development, said in a statement, “The demand for contactless delivery has expanded exponentially in recent weeks.

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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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JPMC Halts Non-PPP SMB Loans

PYMNTS

Those looking for a loan outside of the government’s Paycheck Protection Program (PPP) won’t find it from JPMorgan Chase , which has decided to focus solely on that program due to a huge amount of requests over the past few days, according to the Financial Times. The bank, which is the largest in the U.S., said it has seen over 375,000 requests from small- to medium-sized businesses (SMBs) since the $350 billion loan plan from the federal government was officially launched.

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COVID-19 Stimulus Money Could Show Up In Bank Accounts Today

PYMNTS

Americans could start receiving COVID-19 stimulus money from the federal government as early as Thursday (April 9) or Friday, according to reports. The first round of emergency assistance is expected to reach people who have previously provided direct deposit information to the Internal Revenue Service (IRS). That first group of payment recipients is estimated to be about 50 million to 60 million people.

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JPMorgan: GDP Could Drop 40 Percent, Unemployment Could Reach 20 Percent

PYMNTS

JPMorgan Chase has dimmed its view of the future yet again, now saying the nation’s gross domestic product (GDP) could sink by as much as 40 percent in the second quarter due to the coronavirus pandemic, according to CNBC. That’s an increase from the already-dire 25 percent drop JPMorgan previously predicted. Unemployment, the bank said, could hit 20 percent, with a loss of 25 million jobs.

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How Banks Use APIs To Forge Stronger Client Bonds

PYMNTS

Banks are continually working to provide their business customers with more streamlined, impactful services. They previously only interacted with clients in physical branches — accepting deposits and extending loans, for example — but such interactions offered little ability to facilitate customers’ primary business activities. Payment and data application programming interfaces ( API s) are changing that, however.

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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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April Rent Unpaid By 31 Pct Sparking Fears Of What Is Ahead

PYMNTS

Over one third of Americans didn’t pay rent by April 5, triggering fears of what could be ahead for May and beyond, according to data from a landlord advocacy group. The National Multifamily Housing Council ( NMHC ) analyzed data on Wednesday (April 8) from 13.4 million units nationwide and found that although 69 percent paid April’s rent on time, that is down from 81 percent in March, according to the group.

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FinTechs Help Banks Ease The PPP Lending Pain

PYMNTS

Small businesses overwhelmed U.S. financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. When the program went live on Friday (April 3), only two FIs, Bank of America and JPMorgan Chase, had been able to begin accepting applications — Bank of America saw a whopping $6 billion worth of applications in only a few hours, ending Friday with $32.6 billion in applications.

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Goodyear Offers Online Discounts To Convoy Carriers

PYMNTS

In an effort to provide independent truck drivers and small fleets with discounts and access to a service network, The Goodyear Tire & Rubber Company will now provide carriers that belong to Convoy’s Digital Freight Network with access to its Commercial Total Solution. This is the first time that Goodyear has offered an online discount offering via its commercial eCommerce platform at GoodyearTruckTires.com , per an announcement.

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Many Unemployed Still Waiting For Their First Check

PYMNTS

If you’ve filed for unemployment benefits and haven’t received a check yet, you’re not alone. Nearly 17 million Americans have applied for unemployment assistance in the last three weeks as the nation’s economy came to a virtual halt amid the coronavirus pandemic, and states were overwhelmed by applications, Reuters reported Friday (April 10). There was good news for unemployed workers in the $2.3 trillion stimulus bill the president signed late last month.

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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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Telehealth Service Puts A Retail Spin On Its Business Model

PYMNTS

The rapidly evolving telehealth category has a new business model. Fruit Street – a virtual one-stop-shop specializing in digital diabetes diagnosis and treatment – has partnered with vegetarian meal kit purveyor Purple Carrot to add a retail angle to its health advisory service. “With more Americans practicing social distancing and staying home with their families during the COVID-19 pandemic, we wanted to increase access to healthy meals and nutrition advice through our telehealth platfo

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Chime Gives $200 Advances On Stimulus Checks

PYMNTS

Chime , America’s most valuable digital bank, has begun offering cash advances ahead of the $1,200 stimulus payments Americans will be receiving next week, according to a report by Forbes. For now, to aid those having trouble paying bills during the coronavirus pandemic, Chime will let 100,000 people take out $200 they don’t actually have.

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HPE Launches Corporate IT Payment Deferral Program

PYMNTS

Hewlett Packard Enterprise (HPE) is turning to its financial services unit to extend over $2 billion in financing and programs to assist business customers with cash management issues amid the global pandemic. . “Customers and partners are looking to preserve cash right now,” Brad Shapiro, managing director of HPE Financial Services Americas, told ZNet in a report on Wednesday (April 8).

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Lawsuit Accuses BoA Of Unfair Preferential SMB Treatment

PYMNTS

Rifkin Weiner Livingston LLC has filed an amended complaint against Bank of America (BoA) for allegedly giving its lending clients a higher priority and denying or limiting access to the Paycheck Protection Program (PPP) to its depository clients and other small firms, according to a press release. The law firm noted that the bank updated its policy on April 4 by letting depository-only customers apply for PPP loans after the filing of a class action compliant.

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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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Hong Kong’s SMB FinTech Neat Nets $11M

PYMNTS

Hong Kong-based finance startup Neat has closed a Series A funding round and come away with $11 million, according to a press release. Pacific Century Group (PCG) led the round, while Visa and MassMutual Ventures Southeast Asia were among the other investors. The company’s goal is to offer smart financial tools to small- to medium-sized businesses (SMBs), including multi-currency accounts that customers can open quickly, corporate expense cards, and the option to send and receive money fro

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Shutting The Front Door On Online Fraudsters

PYMNTS

Building a secure customer journey is always a bit of a balancing act. It has to be secure first and foremost, particularly when payments data is on the line. But it also has to be easy, fast and friction-free — now more than ever as a mass of consumers are moving their shopping, dining, working and leisure time online in response to the coronavirus outbreak.

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New Data: 95 Pct. Of Consumers Don’t Use Mobile Wallets For In-Store Purchases

PYMNTS

Among its many profound impacts, the COVID-19 pandemic has dramatically altered how consumers shop. Even before large-scale stay-at-home policies went into effect, most consumers sought to limit direct contact with people and objects as much as possible when they went out. One might expect that in these circumstances, consumers would be even more inclined to take advantage of the contactless payment capabilities of mobile wallets, to avoid swiping their cards at point-of-sale (POS) terminals and

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Why Corporates Are Rethinking The Commercial Card For Payment

PYMNTS

From coordinating a team of newly remote workers to assessing new business models, the coronavirus pandemic is drastically disrupting the way organizations run and it is forcing a complete rethink of almost every aspect of operations — payments included. While it’s still early days, Boost Payment Solutions Founder and CEO Dean M. Leavitt says there are already some patterns emerging that reflect potentially long-term changes to the B2B payments ecosystem.

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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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India SME Lender Capital Float Tops Up Funding

PYMNTS

After having notched more than $110 million in equity funding in the past, India’s Capital Float has received a top-off of $4.8 million from current investors. The startup’s board had set aside just under 93,000 Series E preference shares with an INR 100 nominal value, Inc 42 reported. Sashank Rishyasringa and Gaurav Hinduja rolled out Capital Float in 2013.

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Japan’s Paidy Closes Additional Series C For $281M Total Raised

PYMNTS

Japan’s buy now, pay later (BNPL) startup Paidy announced it has closed a Series C extension funding round led by previous investor ITOCHU Corporation. ITOCHU previously participated in Paidy’s Series B round in 2016 and its Series C round in July 2018, bringing its total investment in the startup to $91 million. So far, Paidy has notched a total of $281 million in equity and debt, one of the largest amounts raised in Japan’s FinTech sector.

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Consumer Inflation Lessens In China Following Record High In February

PYMNTS

After reaching its highest level in eight years in February, consumer inflation in China lessened last month. The country’s consumer price index increased 4.3 percent in March compared to the same time last year, the Financial Times reported, citing the National Bureau of Statistics of China. Prices had increased 5.2 percent year on year in February, powered by increasing consumer goods prices.

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US Unemployment Claims In Last Week Expected To Hit 5.25 Million

PYMNTS

With the coronavirus pandemic forcing people out of work in every sector of the economy, unemployment claims are likely to rise by another 5.25 million since last week, according to reports Wednesday (April 8). That’s in addition to the almost 10 million that have filed since government efforts to thwart the virus started forcing businesses to close their doors in March.

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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.