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ATB Financial just completed the sending of a payment from its home base of Canada to a bank in Germany in 20 seconds via blockchain. Admittedly, most consumers, says SAP Senior Principal of Financial Services Kris Hansen, would simply shrug at this accomplishment. But, he said, they’re missing the point. The bank first announced the payment last week, an effort completed with the collaboration between ATB Financial, SAP and blockchain fintech company Ripple.
A study published earlier this year, “Why Millennials Won’t Eat Cereal,” premised that this 20- to 30-something demographic shies away from the breakfast food because it’s too much work to prepare and clean up.
Visa and PayPal today (July 21) announced a strategic partnership that will combine the power of the largest payments network in the world with the largest digital payments network in the world to give consumers more choice about how they pay when using their PayPal accounts. According to a release that was issued by PayPal announcing the deal, “the partnership puts PayPal and Visa on a new path with the companies working more collaboratively to accelerate the adoption of safe, reliable and conv
Ransomware may have started with consumers, but attacks against businesses and large organizations are on the rise, according to Symantec ’s Ransomware and Businesses 2016 report. The security software company said that, while individuals accounted for 57 percent of the recorded ransomware attacks in 2015, attacks on companies and larger organizations increased at the end of the year.
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.
Lock, stock and barrel. That may be the perfect way to sum up Mastercard’s announcement yesterday (July 21) that it struck a deal to purchase nearly all – at 92.4 percent – of VocaLink for approximately $920 million. Though the purchase of London-based VocaLink is sure to open the door for Mastercard to play a role in the company’s key payment technology platforms for U.K. payment schemes, it also contributes to Mastercard’s overall vision for the future of commerce.
Intelligent Point of Sale , the Scottish maker of an iPad electronic point-of-sale (EPOS) application , unveiled the latest version of the app on Tuesday (July 19), pricing it lower than some of its competitors. The new version, dubbed intelligentpos Version 4.0, marks a complete overhaul of the product, with the company saying it is better, faster and has more in-depth reporting.
Discover Financial Services beat estimates on the top and bottom lines for the second quarter as the firm saw total loans grow to just under $72 billion, up four percent. That loan growth showed attendant growth in credit card lending, student loans and other credit products. The net income per share was $1.47, five cents better than the Street had forecast for the second quarter.
Discover Financial Services beat estimates on the top and bottom lines for the second quarter as the firm saw total loans grow to just under $72 billion, up four percent. That loan growth showed attendant growth in credit card lending, student loans and other credit products. The net income per share was $1.47, five cents better than the Street had forecast for the second quarter.
Rejection is a tough pill to swallow, especially if you’re an entrepreneur looking to build up a new business. A recent survey by the Federal Reserve found that there is an 80 percent chance that a bank will reject you for a loan if you are a startup or a small business. Yet, traditional banks remain the top destination for small business owners when seeking financing, and while there are alternative options out there should the business get denied, analysts agree that SMEs should get educ
So, what’s this location-based advertising thing, and why is it (going to be) so important for the future of retail and mobile transactions? Well, if you’re an advertiser or somebody whose job it is to get products and brands in the face of consumers, then location-based advertising literally is the next big thing in mobile retail transactions. There’s a reason, after all, why 66 percent of marketers listed location-based advertising as the “most exciting” mobile opportunity of 2016, according
For those looking for something to celebrate this weekend, the world hasn’t really come through. Sure, maybe you can throw an off-the-wall unboxing party as your newly ordered toilet nightlight from Amazon Prime Day arrives. But for the rest of us, things look a little less than celebratory. Something rather ominously called a “ heat dome ” is setting up to effect over 75 percent of the U.S. starting Sunday (July 17), and the only thing more tragic than the horrific news out of Nice yesterday i
Some online gamblers and eCommerce website operators are up in arms after being blocked from receiving daily payments because of an outage at Worldpay, the United Kingdom payment processor. Worldpay’s customers include British Airways. According to a report , the outage has been going on for three weeks, angering some companies who have been contending with upset customers.
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.
When First Data quietly announced its purchase of Clover in 2013 – the move was widely covered as a competitive answer to Square (and its many imitators). The common narrative was a tale of two payments hardware firms – with Square playing the part of the of the streamlined payment platform best for super-new SMBs that didn’t need a lot of extra functions and Clover cast as the heavier-duty option for more established small businesses that needed more back end functionality.
So, how can you get your hands on the newest and hottest pair of Warby Parker shades — a “head-turning Haskell in Crystal, now with new silver mirrored lenses” that’s retailing for $95? Nope, you won’t be able to purchase them at WarbyParker.com or anywhere on the hip eyewear purveyor’s burgeoning list of brick-and-mortar retail stores. No, the only way you can get your hands on these “exclusive” bad boys is if you follow Warby Parker on Snapchat , where the brand shared a Snapchat story with it
We’re a few weeks away from the opening ceremonies of the 2016 Summer Olympic games, to be held, this time, in Rio de Janeiro, Brazil. With them, a surge of millions of people will enter the city from all over the globe. It’s a massive opportunity for cross-border commerce , and payments technology companies are taking advantage. But away from the face of the consumer, the Olympics also offer a new hub for international procurement.
Retailers can’t be held entirely liable for the ham-fisted ways they’ve tried to push virtual and augmented reality onto consumers, who — like retailers themselves — don’t quite know what to make out of the technology just yet. When these potentially transcendent platforms are put to retail use, it can almost seem like an anticlimax of breakthrough tech being relegated to old experiences.
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.
Retail sales got off to a shaky start this year, but things seem to be turning around for the U.S. retail and food services industries, which saw an uptick in sales in June. The U.S. Census Bureau reported on Friday (July 15) that retail and food services sales for June came in at $457 billion, up 0.6 percent from May and up 2.7 percent year over year.
[link]. Despite the ever-increasing number of connected thermostats, Wi-Fi lightbulbs and Internet-ready refrigerators that are making their way into consumers’ houses, webbing all of these gadgets together into a truly cohesive smart home has proven a much more elusive goal. It’s not that a truly connected smart home is unachievable – according to Intel, all the technology the Internet of Things could ever need is already in place.
Amazon has already dominated the online shopping and clothing markets, and now, it is setting its sights on the food delivery industry, something that startups, including Uber, have been eyeing. According to a media report , which cited several unnamed technology and food industry sources, Amazon is mulling launching its Amazon Restaurants service in London.
Considered to be one of India’s most developed cities, Pune is making a name for itself as a go-to tech hub in the country. In recent years, the city has seen an exponential growth of its startup community and may be on its way to taking the country’s startup capital top spot. In this week’s edition of PYMNTS’ Weekly Tech Center Roundup , we land in the growing tech ecosystem of India to check on the small city of Pune and how it wants to make a big name for itself as a global tech hub.
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.
Edward Snowden has long been warning the world about what the government can do with data gleamed off an iPhone or mobile device. But now he is putting action to his word by rolling out an iPhone case that he alleges even a spy couldn’t breach. Teaming up with well-known hacker Andrew “bunnie” Huang, the two designed the device, which is a piece of hardware that you put on your iPhone.
Just when you think that it’s going to be hard, once again, to find a Sizzle, yesterday happens. SIZZLE. Payments and Consumer Choice. What a difference a day makes. Two days ago, the payments ecosystem was humming along as it always does. Maybe even more boring than usual. Summer doldrums. The next day, July 21, it goes into sizzle overdrive. The day began with Mastercard announcing an acquisition of epic proportions : VocaLink.
Despite efforts by companies and security professionals to protect the nation’s computer systems, incidents of malware attacks are on the upswing, coming at a rate that is close to four times last year. According to AppRiver’s second quarter Global Security Report , between April 1, 2016 and June 30, 2016 the security firm recorded 4.2 billion malicious emails and 3.35 billion spam emails.
Uber for Business expanded its expense management capabilities for corporate travelers last March when it announced partnerships with Certify, Expensify and Chrome River, all to automate the capture of ride transaction data for an expense report. On Tuesday (July 19), Uber for Business announced the expansion of its collaboration with another T&E firm, Concur , that goes beyond capturing spend data.
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.
As corporate payments firm WEX looks to strengthen its presence in the insurance sector, the company revealed a new partnership to help in the process. On Thursday (July 21), WEX announced a collaboration with Aquarium Software , a global insurance technology company that focuses on niche insurance segments, like pets and travel. WEX will provide its virtual payments solution for Aquarium to provide end-to-end payments for its business clients; their partnership will first begin with Aquarium
The Federal Bureau of Investigation has been targeting the Business Email Compromise for years, warning companies to be aware of fake supplier emails and invoices requesting firms to wire funds. A new notice from the FBI continues its crackdown of the scheme and pinpoints what reports call “ground zero” for the scam. According to reports published on Tuesday (July 19), Hong Kong is the epicenter of these business email scams, with fraudsters already nabbing (or attempting to steal)
It looks like Walmart Canada wasn’t bluffing. As of Monday the retail chain has officially stopped taking Visa cards in several locations after failing to reach a deal with the card network over what it called “unacceptably high” fees. The coming controversy first became headline fodder about a month ago – when Walmart announced that it had been unable to come to an agreement with Visa on an “acceptable” fee.
How did you pay for your coffee this morning? If you’re among the group of people who prefer paying in cash over a credit card, debit card or mobile payment app — and yes, there are those people out there — a new study reveals that you might actually be more “proud” and emotionally connected to your purchases than the average costumer. A new study by Avni M.
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.
A group of behind-the-scenes investors are pushing to have Uber cease its escalating war with Didi Chuxing, China’s largest taxi cab-hailing company, over control of the lucrative Chinese marketplace because they fear it is costing the company too much money, according to a Bloomberg report. Sources told Bloomberg that Uber was spending “billions” on its China expansion but facing an uphill challenge from Didi.
If you own Netflix stock, Tuesday (July 19) was not a good day for you. And Netflix’s bad day was a bad day for the Nasdaq Composite and S&P 500 as well, according to The Wall Street Journal , pushing both of those indexes lower as the Dow climbed to another record high. A disappointing quarterly earnings report released after the markets closed on Monday caused Netflix’s stock to fall $12.97 per share, or 13 percent, in trading on Tuesday, the single biggest plunge for the company’s stock s
Brazil is getting a lot of press time these days, but that isn’t too terribly surprising since the 2016 Olympics are gearing up to kick off in in about two weeks. But innovation watchers have been watching Rio and Brazil in general for some time as the nation increasingly becomes an incubator nation for FinTech development and talent. One of the leading startups in the emerging Brazilian class is CargoX, a service that has been (unsurprisingly) described as the “Uber for Trucks.̶
[link]. There’s a global phenomenon afoot that takes the notion of cross-border payments to a new level – the high value-low frequency transactions made by a whole new category of sender – the Global Citizen. These individuals aren’t wealthy by most developed country standards – with annual incomes that hover around $40,000 USD – but are part of the emerging middle class in countries like China, India and South Korea who now have the discretionary income to spend on the things that matter most t
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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