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Today In Data: Smartphones As IDs, RBS Profits And Accounts Payable Payments

PYMNTS

billion | Number of adults in the world who do not have bank accounts and may not have government-issued IDs but do have mobile phones. That data will be used to instantly verify those mobile device users around the globe with the aim of reducing fraud tied to account openings. Here are the numbers: 1.8 billion loss.

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Cannabis Co MedMen Forced To Offer Shares To Vendors Amid Cash Crunch

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The company has been dealing with layoffs and restructuring as the marijuana industry continues to evolve, and the once cash-heavy investment industry is seeing less capital lately. . “As These are brands that heavily rely upon MedMen for their business.” .

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Cash in times of crises: Lessons from 2020-2022

Future CFO

The Group also completed a successful restructuring which helped to strengthen its financial and cash position,” she added. She also cited regaining financial institutions’ confidence in the Group post-restructuring as another challenge. This was addressed through the institution of daily cash monitoring and management.

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B2B Payment Terms Take A Hit From COVID-19

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Reports in The Construction Index revealed that Travis Perkins notified its suppliers it would be extending payment terms, citing work-from-home requirements of its accounts payable staff related to COVID-19. As a result, more than half of the suppliers surveyed said they have trouble paying their own vendors on time.

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Procurement Tech Offers Relief To Healthcare Firms Stretched To The Brink

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Procurement Partners, which this week announced it secured growth investment from Serent Capital , aims to overcome that challenge through integrating with third-party solutions, including about 30 accounts payable systems in use by existing customers.

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Airbnb’s Business Travel Investment Leads B2B Funding For The Week

PYMNTS

Aimed at consolidating spend across accounts payable, employee expenses and other processes, Airbase offers companies a way to manage and control the money that flows out of a business. The company said it plans to use the investment to further build out its lending operations.

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Why 2021 Is No Sure Bet For An SMB Rebound

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You cannot restructure when revenues go to zero,” he told Webster, adding that for a number of retailers and restaurants, “that’s probably the biggest liquidity crisis.”. The liquidity challenges are towering, he said. Where We Go From Here.