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In tech, innovation is everything. In innovation, intellectual property is, well, almost everything — it can be the hardware, the software, the processes that come from creative endeavor. And patents? Well, consider them a form of competitive advantage. News came recently, when it comes to patents tied to the blockchain landscape, that Thomson Reuters found China, and Alibaba , to have had an outsized showing.
Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, as amended, creates a five-step framework for entities to determine when and how much revenue should be recognized. The first article in the ‘Dissecting the New Revenue Recognition Guidance’ series discussed step 1: identifying the contract(s) with a customer. The second article in the series explained step 2: identifying performance obligations in the contract.
Travel companies know that payments innovation is mission-critical when it comes to acquiring and retaining consumers all over the world. It’s a clear fact in the data — 81 percent of travel firms indicated that payments innovation is on the menu for the next three years, according to the PYMNTS/ Amadeus IT Group Travel Payments Study. Bart Tompkins, managing director of Amadeus Payments Business Unit , told Karen Webster in a recent interview that it’s also apparent in his conversations with ai
RiskIQ, the security firm, told outlets on Tuesday (Sept. 11) that the data breach at British Airways was due to credit card skimming installed by malware hackers. According to reports , Yonathan Klijnsma, a threat researcher at RiskIQ, told the outlet that the same group of hackers that breached Ticketmaster may be behind the attack at British Airways, in which more than 380,000 credit cards were compromised.
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.
This year’s “Great Crypto Crash” appears to be deepening and has hit a major milestone set by the dot-com bubble, Bloomberg reported. Digital currencies have tumbled from a January high by 80 percent, according to the MVIS CryptoCompare Digital Assets 10 Index. That level tops the “peak-to-trough decline” in the Nasdaq Composite Index following the dot-com bubble.
Amazon’s B2B business is growing up fast, as trade conflicts build and inject risks and threats into the larger industry landscape. Meanwhile, B2B eCommerce stands on the cusp of other changes that go beyond Amazon’s increasing prowess — changes that promise to bring the supply chain and corporate procurement, long known as a paper-based beast, further into the digital economy.
To challenge the Office of the Comptroller of the Currency (OCC)’s decision to allow online payment companies and lenders to have national bank charters, the top banking regulator in New York is suing the federal government. In a complaint filed with a federal court, New York Department of Financial Services (DFS) Superintendent Maria Vullo said, “The OCC’s reckless folly should be stopped,” Reuters reported.
To challenge the Office of the Comptroller of the Currency (OCC)’s decision to allow online payment companies and lenders to have national bank charters, the top banking regulator in New York is suing the federal government. In a complaint filed with a federal court, New York Department of Financial Services (DFS) Superintendent Maria Vullo said, “The OCC’s reckless folly should be stopped,” Reuters reported.
Despite the influx of mobile banking and payment options, plastic card use, and a focus on financial infrastructure, cash remains heavily cemented in the Middle Eastern and African economies. Reliance on cash is particularly ingrained in the unbanked and rural populations of these regions, with consumers still reaching for cash to pay for daily transactions.
Ransomware attacks are often a small business owner’s worst nightmare. Unfortunately, experts don’t believe ransomware attacks will let up anytime soon, with recent research from Datto finding that these attacks cost small businesses $301 million worth of ransomware money in 2016. In a survey of 1,700 managed service providers working with a combined 100,000 small businesses, 99 percent of respondents said ransomware attacks are likely to pick up this year and next.
AT&T, Sprint, T-Mobile and Verizon have joined forces to create a new service that could eliminate the need for a login and password for all the apps on your phone. According to a report in Engadget citing the companies, the initiative is being called Project Verify, with the U.S. carriers creating a single sign-on service that would serve as the login credentials for all the apps on a mobile device.
In FinTech and FI collaborations , borders fall to bits and bytes. On FinTech collaboration writ large, Singapore and Dubai are working together to encourage strides in digital payments and commerce done by mobile means. The Dubai Financial Services Authority (DFSA) and the Monetary Authority of Singapore (MAS) have signed onto efforts “that provide a framework for cooperation and referrals between the innovation teams of each authority.
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.
Welcome to Five at Five, your late look at the day’s payments and commerce news. Coverage includes a Walmart acquisition and the rise of local brands in China. A new analysis predicts a financial crisis in 2020, a single sign-on for mobile apps is coming and the prospect of tougher tech enforcement increase in the United States. Walmart Buying Cornershop t o Boost Presence i n Latin America.
Rydoo, the mobile T&E app resulting from a collaboration between Sodexo, Xpenditure and iAlbatros, is integrating its expense management capabilities with Uber. A press release Monday (Sept. 10) said Rydoo is linking into Uber for Business to streamline corporate travelers’ reimbursement and expense reporting processes. “Rydoo is focused on meeting our customers’ expectations by offering global solutions,” said Rydoo CEO Sébastien Marchon in a statement.
How do consumers really want to search online ? That’s a question with obvious relevance to payment and commerce operators. Perhaps a better, more specific question is this: Even with Google ’s search engine dominance (a dominance that seems as currently eternal as, say, the power of the British Navy in the late 19 th century), can any challenger make a significant push to gain ground?
Consumers prefer speed, convenience and ease of use over security — even when it comes to accessing financial services online. As many as 71 percent of financial consumers reported being satisfied with an authentication method if it was easy to use, while 62 percent like authentication methods that are convenient. In comparison, only 45 percent said they would prefer an authentication method due to its tight data security.
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.
Spend analytics has broken through as an essential part of corporate procurement strategies. Businesses need to know how much money they’ve spent, and on what. Luckily, enterprise digitization is pushing the needle forward for procurement teams, enabling access to data that empowers the type of spend analysis organizations demand. Today, though, CFOs and procurement leaders want to go even deeper.
Who are you? And who do you want to be — especially before disparate audiences and peer groups? Don’t worry — this is not an intro to a freshman philosophy class (a fair number of philosophy majors make bank with hedge funds and tech , though, so let’s not tease). Rather, those are questions central to the development of digital identities and social authentication, making them important for the broader practice of online payments and eCommerce.
Small business owners are making a grave mistake if they assume their firms are not a prime target for cyberattackers. Not only are small and medium-sized businesses (SMBs) a prime target, but such an attack can be detrimental to a small company without the resources to combat a security threat. Nearly half of the small businesses surveyed by Hiscox last year said they had been targeted by at least one cyberattack, while 44 percent said they were hit by between two and four attacks.
With cash use still popular in Europe, and the technology behind digital money remaining fragile, the European Central Bank (ECB) doesn’t intend to create a digital currency. Even so, the spread of cryptocurrencies have brought the idea of central banks issuing digital money to light, Reuters reported. “The ECB and the Eurosystem currently have no plans to issue a central bank digital currency,” President Mario Draghi wrote in a letter.
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.
As one of the world’s biggest internet companies, Baidu is homing in on autonomous vehicles and artificial intelligence (AI). The tech company has a particularly strong presence in its home country of China, where it commands 70 percent of internet searches, CNBC reported. Spurred by its interest in transportation technology, Baidu has inked partnerships with companies like Intel, Microsoft, Ford, BMW and Daimler.
Though much of retail has been buoyed by a rising tide of strengthened sales and renewed consumer confidence, some sellers out there continue to struggle to grab a foothold during changing times. Guitar Center, founded in 1959, is one such business. Sales have fallen off sharply in recent years, which, while a problem on its own, is compounded by the fact that brand finds itself sitting under $1 billion in outstanding debt.
Bank of America is adding mobile wallet functionality to its suite of commercial card products, the bank said Wednesday (Sept. 12). In a press release , Bank of America said its corporate cards are now compatible with mobile wallets including Apple Pay, Google Pay and Samsung Pay, citing business travelers’ mobile payment needs as a stop motivation behind the initiative.
In some ways, payments authentication can come across as improvisational — every institution seems to use a different method. Call centers , particularly those dealing with financial transactions, have a strong need to be sure that the person on the other end of the line is actually their customer. The fact that most firms know that, and set up measures to properly authenticate those customers, is a good thing, said Chief Commercial Officer Dewald Nolte of Entersekt in a recent conversation wi
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.
Cashierless stores aren’t just for mega retailers like Amazon to sell prepared food from their kitchens or products from other producers: Beverage brands, among other companies, are getting into the action and choosing this checkout experience for stores that showcase their own products IRL (“in real life”) as a marketing tool. This week, beverage company Dirty Lemon plans to bring such a store to New York City this week – with a little help from mobile technology.
And so the Amazon effect comes to Europe – this time with a purported Amazonian appetite for (grocery) aisles. News came Friday (Sept. 14) that German retailer Metro AG is looking to offload its Real hypermarkets via sale, and the firm, said Reuters , “remains confident” of a transaction. A possible deal for Amazon – one worth $1.2 billion? According to Reuters, bankers remained skeptical of that scenario, and said that private equity firms would be the most likely suitors.
Sizzle. Amazon’s B2B Biz : Amazon is everywhere — and while retail is the name of the game, B2B is growing by leaps and bounds. In fact, Amazon’s B2B is growing faster than retail, as Amazon Business is on track to hit $10 billion in sales this year, just four years after launch — it took the unit only one year to reach $1 billion in sales. Amazon says millions of firms have already signed on to the service.
Omni Security and Authentication. Consumers expect to do business with their bank online seamlessly, without the hassle of complicated security checks, whether through their mobile phone, smart watch, home speaker or other connected device. However, offering this convenience can create new opportunities for fraudsters to slip through, thanks to the growing number of security breaches and the troves of consumer data easily available on the dark web.
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.
Citing an analysis by JPMorgan Chase, Bloomberg reported the Wall Street bank doesn’t think the next financial crisis will be as painful as past crises, but that it is coming. According to the analysis, stocks could decline around 20 percent with the next crisis, the U.S. corporate bond yield premiums will be at around 1.15 percentage points, and there will be a 35 percent decline in energy prices and a 29 percent decline in base metals.
Henry Wadsworth Longfellow once wrote, “ into every life, a little rain must fall ,” a piece of poetry that will become a piece of literal reality this weekend in the American southeast. Except, of course, it won’t be a little rain — it will be a lot of rain for the Carolina coastline as Hurricane Florence roars in this weekend and brings with her torrential downpours, high winds, massive storm surges and widely expected flooding.
To settle allegations involving its premium “dark pool” called Citi Match, Citigroup will pay more than $12 million in “disgorgement and penalties.” The news comes as the U.S. Securities and Exchange Commission (SEC) claims that two high-frequency traders routed millions through Citi Match, while the firm allegedly told clients that they were not using the service, Financial Times reported.
JLL found that mall rents in Q2 dropped 4.6 percent from the first quarter and 7.1 percent from one year prior. But, in terms of bringing in tenants, some malls fared better than others, Chain Store Age reported. “[Malls] with strong locations were able to nab high-productivity tenants like Whole Foods, Wegmans and Nordstrom,” according to JLL’s Q2 Retail Outlook report.
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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