PYMNTS
JANUARY 11, 2021
Mexicans and Mexican-Americans working in the U.S. sent a record sum of money to the southern country despite the staggering blows the U.S. economy took due to the pandemic, The Wall Street Journal reported, citing data from Mexico's central bank. During the first 11 months of the year, people in the United States sent $36.9 billion to Mexico, WSJ reported, citing data released by the Banco de Mexico.
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JANUARY 14, 2021
Cash is king in restaurants. In the midst of this crisis situation with COVID-19 , knowing your restaurant’s current cash position is one of the most important insights an operator can have. We have created a simple, yet effective, Weekly Cash Flow Worksheet that you can easily download and modify (fill out the form below to access). Using this spreadsheet tool will help you understand and manage the cash flow dynamics of your business.
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PYMNTS
JANUARY 14, 2021
Nike is suing 589 websites, the owners of 676 social media accounts and more than 100 unidentified companies and individuals for allegedly selling counterfeit versions of its Nike and Converse shoes online. Nike wrote in a lawsuit filed in the U.S. District Court for the Southern District of Manhattan that its trademarks “are among the most widely recognized trademarks in the United States and around the world, as well as among the most popular with consumers.
PYMNTS
JANUARY 11, 2021
Roblox , which operates an online gaming platform that spans millions of users and millions of variations of games or related interactions, plans to go public on the New York Stock Exchange via a direct listing in February, according to an SEC filing the company submitted. Roblox previously had planned to go public the usual way, allowing Wall Street investment bankers to find buyers for early blocks of shares before opening a stock to investors in the broader market.
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PYMNTS
JANUARY 11, 2021
Amazon and Walmart are among the big retailers trying out a new way of handling refunds, according to a report from The Wall Street Journal (WSJ). Customers can ask for a refund, but they might not have to return the item even if they're granted one. The idea, which uses artificial intelligence (AI), is supposed to cut down on work and costs for the companies, which have seen an unprecedented surge in activity because of the pandemic.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
JANUARY 15, 2021
Target crushed online commerce and reported decent in-store sales volume for the holidays, while Urban Outfitters and Nordstrom had weak in-store traffic that even fairly positive online volume couldn’t surmount. In retail technology, Toshiba Global Commerce Solutions ’ new Elera system aims to supplant in-store IT systems with a new cloud-enabled technology.
PYMNTS
JANUARY 15, 2021
Surviving the worst year in aviation history is, itself, an accomplishment. According to Delta Airlines CEO Ed Bastian, while pre-COVID volumes and travel practices may never fully return, the road to recovery has begun. The final destination, however, will be different, especially for the big-ticket business class segment. “All indications are [that] corporate travel is ready to start coming back, and will come back pretty aggressively beginning the second half of this year,” Bastian told analy
PYMNTS
JANUARY 15, 2021
The Financial Crimes Enforcement Network (FinCEN) late Friday (Jan. 15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). According to a statement from FinCEN , Capital One admitted to failing to implement and maintain an effective anti-money laundering (AML) program.
PYMNTS
JANUARY 12, 2021
These days, with the emergence of the cloud, open banking and application programming interfaces (APIs, the moniker “as-a-Service” applies to pretty much any business function that is now able to be outsourced to a third party. That includes Payments-as-a-Service (PaaS) in which providers help enterprises accept a range of transactions from their end customers — whether those end users (the ones actually paying and getting paid) are consumers or corporates.
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.
PYMNTS
JANUARY 9, 2021
America did not have a good week. U.S. employers shed jobs last month for the first time since April, with 140,000 positions cut, according to the Associated Press – mostly in restaurants, bars, hotels and entertainment venues. COVID-19 is on the rise. And the tumultuous transfer of power currently stumbling gracelessly toward the finish line briefly erupted into a riot that left Congresspeople hiding in their offices and the Capitol building full of smashed windows.
PYMNTS
JANUARY 11, 2021
Buy now, pay later (BNPL) platform Affirm boosted the price range of its initial public offering (IPO), potentially raising $1.08 billion, according to a Monday (Jan. 11) filing with the Securities and Exchange Commission (SEC). The Silicon Valley startup is planning to offer 24.6 million shares of its common stock through the IPO, with a price range of $41 to $44 per share.
PYMNTS
JANUARY 11, 2021
A California man has sued Robinhood Financial and Robinhood Securities, claiming he lost thousands of dollars after his brokerage account with the firm was breeched, according to a complaint. Siddharth Mehta, who filed the lawsuit in Superior Court for the state of California, is seeking class-action status in his case against the provider of low-fee brokerage services.
PYMNTS
JANUARY 12, 2021
The lending industry was hit hard during the pandemic’s early months, with many banks and traditional lenders rapidly adjusting their standards and rates to accommodate businesses’ and consumers’ shifting needs. Demand among businesses — especially smaller firms — skyrocketed as they attempted to blunt revenue challenges and keep their operations above water, but these companies faced numerous hiccups when securing financing.
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
PYMNTS
JANUARY 11, 2021
Pakistan has debuted a government-run instant digital payment system to help with financial inclusion and government revenue, Reuters reports. Pakistan has the distinction as a country where only some economic transactions happen on the books. The new system is called "Raast," or "direct way," and will be rolled out in three phases culminating in early 2022, according to the news outlet.
PYMNTS
JANUARY 15, 2021
A year ago, as 2019 was turning over into 2020, the distinction between card-present transactions and card-not present transactions was highly relevant in the world of commerce. As 2020 is becoming 2021, on the other hand — not so much and for good reason. As Ondot Head of Product Solutions Randy Piatt told PYMNTS in a recent conversation, card-present transactions have been reduced in direct correlation with most of consumer’s real-world activities.
PYMNTS
JANUARY 13, 2021
The problems are analog. The paper check, the paper invoice, slow accounts receivable (AR) processes and collecting on aging receivables can be difficult for even the most seasoned AR professionals. But digital-era help is on the way. Michael Shields , business line executive at FIS , told PYMNTS in a recent interview that artificial intelligence (AI) can streamline and modernize the order-to-cash process and improve collections on outstanding invoices, freeing up resources for innovation and im
PYMNTS
JANUARY 14, 2021
In the move toward digital payments in cash-centric economies, building trust in bank accounts and payments done in bits and bytes is critical. In Pakistan, for firms seeking to spur that adoption and to foster financial inclusion, it’s important to have a “cash in, cash out” mindset, as Erwan Gelebart, CEO of digital wallet, mobile payments and digital banking provider JazzCash , told Karen Webster in an interview.
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PYMNTS
JANUARY 11, 2021
Corporate travel management platform TripActions said in a press release that its TripActions Liquid payments and expense system now integrates with leading corporate finance systems. Among the enterprise resource planning (ERP) systems with which TripActions Liquid communicates now are NetSuite, Microsoft Dynamics, Sage Intacct, SAP and Xero, according to the release.
PYMNTS
JANUARY 11, 2021
The price of bitcoin kept going up and up and up for months — to a high of more than $40,000. Then, on Monday (Jan. 11), the market came crashing down. CNBC reported that bitcoin (BTC), the largest cryptocurrency by market capitalization, fell over 12 percent from a day earlier, to as low as $30,863. According to Coinmarketcap, the overall value of the cryptocurrency market — or market cap —was $880 billion Monday morning, down from $1.08 trillion a day earlier.
PYMNTS
JANUARY 13, 2021
As COVID has battered the economy and changed the way merchants do business, the time has come for them to analyze their clients and customers to see if recouping some or all of their transactional costs makes sense. While so-called surcharging has been around for nearly a decade, and credit card processing fees have more than doubled during that time, the current climate has seen a growing number of businesses deciding to pass along some of the costs.
PYMNTS
JANUARY 12, 2021
The federal government is not exactly the poster child for modern payments distribution. It’s a fact that the last year – and two rounds of direct stimulus payments to consumers – has made quite clear. As it turned out, paying out stimulus funds to hundreds of millions of Americans in short order was an incredibly heavy lift. The fact that the government needs to immediately modernize its payments capabilities is something that everyone knew, according to Ingo CEO Drew Edwards – but what has esc
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PYMNTS
JANUARY 13, 2021
Starbucks announced on Tuesday (Jan. 12) that it is investing $100 million from now through 2025 to support small businesses located in minority neighborhoods. The aim of the Starbucks Community Resilience Fund is to support SMBs in areas “with historically limited access to capital,” the release said, to promote racial equality and environmental resilience.
PYMNTS
JANUARY 12, 2021
Organized crime rings are taking advantage of the pandemic, looser police enforcement and a softening in anti-shoplifting laws to swipe tons of merchandise from retail stores and warehouses across the United States. Just in the past month, police in San Francisco and Polk County, Fla., broke up two major rings, while six crooks descended on a Balenciaga store in Manhattan and made off with $60,000 of high-end bags in broad daylight.
PYMNTS
JANUARY 14, 2021
The Saudi Arabian Monetary Authority (SAMA) is introducing an open banking policy to advance digital innovation in the financial services sector. Saudi Arabia’s central bank said the plan is for open banking to go live in the first half of 2022. Through the initiatives in the policy, the goal is to foster the advancement of digital technologies and create new financial services and products.
PYMNTS
JANUARY 12, 2021
An ex-employee of SoftBank , a major Japanese wireless carrier, was reportedly arrested on Tuesday (Jan. 12) on suspicion of stealing trade secrets before taking a job with Rakuten Mobile, a smaller rival. The arrest comes at a time when the Japanese government is pressuring mobile companies to cut subscription fees. Nikkei Asia reported that the employee is Kuniaki Aiba, 45, who started working for Rakuten last January and used to work for SoftBank’s mobile unit.
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