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Fraudsters always seem to be one step ahead of both the consumers and businesses they target. They have the uncanny ability to slip in unnoticed, wreak havoc and essentially walk away unscathed (and paid). Though victims of fraud attacks may never be able to beat cybercriminals at their own game, it’s clear that knowledge is power. As Don Bush, VP of Marketing at Kount , recently told Karen Webster , knowing what’s coming can better prepare you to defend yourself. “If you don’t know
The state of cash in Western Europe is at a crossroads with the rapid development of mobile technology. While several European countries show positive growth in cash usage, there are some that are on track to become cash-free. The PYMNTS.com Global Cash Index™, powered by Cardtronics, uncovers the changing dynamics of the state of cash in Western Europe and the projected effect of the impending Brexit vote on cash usage.
[link]. When you think FinTech, many words come to mind — startups, disruption, innovation, consumer-centric — but there’s also regulation. It can be seen as one of the biggest headaches facing FinTechs today and is considered a significant barrier to entry. On average, approximately 20 percent of a FinTech’s operational costs are dedicated to the governance and compliance area.
The movement by small and midsized businesses to fully accept and work with electronic payments has been a gradual one, and one that has been marked by concerns surrounding costs. Firms have tread cautiously with respect to electronic payments, with costs dominating the argument against transitioning. After all, it does take time and money to bring accounting systems up to speed and to enable platforms to deal with processing fees tied to transactions.
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
American Express has announced changes to its EMV chargeback policy in order to ease the transition as merchants migrate their POS systems to be EMV-compliant. This move is aimed at helping merchants limit their fraud losses, and as of the end of August of this year, merchants will not be liable for counterfeit fraud chargebacks for any transaction under $25.
In this week’s edition of PYMNTS’ Weekly Tech Center Roundup , we head back to Europe to explore Germany’s “startup capital” and learn about the thriving ecosystem where a new startup is born every 20 minutes. . Before we jump into the post, here are a few quick facts about Berlin, Germany and its tech scene: Berlin has an estimated population of 3.5 million, with nearly 40 percent of the city’s residents being under the age of 35.
In this week’s edition of PYMNTS’ Weekly Tech Center Roundup , we head back to Europe to explore Germany’s “startup capital” and learn about the thriving ecosystem where a new startup is born every 20 minutes. . Before we jump into the post, here are a few quick facts about Berlin, Germany and its tech scene: Berlin has an estimated population of 3.5 million, with nearly 40 percent of the city’s residents being under the age of 35.
It’s been a tough road on the way to EMV terminal deployment here in the U.S. The move has been complicated by the combination of most merchants getting a very late start to the EMV process – the Target breach was what many merchants considered their official starting line despite announcements by the card networks years earlier – and a complicated certification process that’s been tough for some merchants to navigate.
In what the companies said is a first for the industry, InMotion Global and Triumph Business Capital are partnering to introduce financing options for business fleet customers, linking travel management software with corporate lending. An announcement on Wednesday (June 22) said InMotion Global-owned AscendTMS will integrate Triumph’s invoice factoring solution into its software, enabling trucking companies, freight shippers and third-party logistics firms to access financing.
Jay Walker, founder of consumer travel booking site Priceline , is at it again. Only this time, his newest service targets the corporate traveler. Reports on Tuesday (June 21) said Walker is launching Upside , a mobile app to help corporate travelers stay on budget through a rewards system. The app provides gift cards to professionals that are willing to change or alter travel plans if it means saving money for their business.
When rumors of sales and acquisitions start popping up, it’s usually in a given retailer’s best interest to play their cards close to the chest and avoid spooking investors and markets alike. However, there’s only so long gossip like that can be kept under wraps, and especially so for sought-after Cabela’s. In filings made to the Securities and Exchange Commission , Cabela’s has noted that as part of a “strategic alternatives review process,” investigati
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
The invoice-to-cash journey is having its Netflix Moment, as Billtrust CFO Ed Jordan likes to say. Netflix pre-2007 was a manual, paper-based system — relying entirely on manual shipping, manual returns and absolutely no customer self-service. The only way that a customer could get a DVD was to have it mailed to them in a little red package and to return it once the movie had been watched.
Did you purchase a Kindle eBook published by Hachette, HarperCollins, Simon & Schuster, Penguin or Macmillan between April 1, 2010, and May 21, 2012? Well then, you might want to check your Amazon account, because it might have some extra money in it. No, Amazon didn’t just decide to give a whole bunch of customers an early Christmas present; the money comes from Apple as part of a settlement of a series of anti-trust lawsuits brought by various state attorneys general.
The B2B payments space has seen significant growth thanks to developers that often focus either on the accounts receivable or accounts payable side of cash management. A new partnership in the industry, however, brings both AR and AP management together. Payments player Billtrust and AP company AvidXchange announced today (Tuesday, June 21) that they are linking up to streamline and enhance automation for corporate payments.
Issuers are taking it on the chin headed into the final hours of stock trading on this historic Friday post Brexit. The payments companies are not faring any better. Those firms with hopes of cross-border transactions as reliable revenue streams also face rocky shoals. The overarching worry is that consumer spending will pull back, which of course hits the card firms right where they live, and it is possible the slowdown in spending would be widespread.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Santander InnoVentures , a FinTech venture capital fund, announced on Wednesday (June 22) that it is making a strategic investment in identity verification platform Socure. As a real-time digital identity verification solutions provider, Socure uses trusted data from a consumer’s digital footprint — the social biometrics of individuals — to confirm their identity.
The heat of competition has hit record levels in the financial services and technology space. Advancements in FinTech are enabling corporate payments tools to become not only more efficient but a strategic part of the enterprise. If corporate treasurers and CFOs want to help their businesses grow, they must now think strategically and use the technologies to support their goals.
It was the cyberheist heard around the world — and one that’s been creating quite the stir since it happened in February. That cyberheist, of course, is the case of the missing $81 million from the cyberheist at the central bank of Bangladesh through its account at the New York Fed. That $81 million was stolen from Bangladesh’s account at the New York Fed through the use of official government codes and stashed into a Philippines personal bank account.
A new study has landed the FBI in hot water when it comes to privacy concerns. The Government Accountability Office (GAO) study, released last Wednesday (June 15), sheds light on a database of more than 411 million photos maintained by the FBI. The agency reportedly uses the photos — gathered from a variety of sources, such as driver’s licenses, passport applications and visa applications — and facial recognition software to find criminals, The Guardian said.
In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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 retail giant’s payment method is finally here. Back in December, Walmart announced plans to enter the mobile payments game with its own proprietary payments platform by turning the Walmart.com app into the way that consumers can pay at the physical point of sale. Shortly after the Walmart Pay news was announced, Walmart SVP of Services Daniel Eckert told Karen Webster that the payment method was built to leverage a habit that its customers already know how to do really well: shop online at W
In B2B payments, accounts payable automation is a hot topic, as are the challenges AP professionals face when it comes to paying suppliers and managing the data from those transactions. But a new report from Corcentric , written by the Institute of Finance & Management (IOFM), details the hurdles on the other side of the payment. Accounts receivable processes, like their AP counterparts, are similarly plagued by manual, paper processes, making the cash management effort monumental for suppl
Walmart has been associated with many things throughout its more than 50 years of business as a retail giant, but fine wine has never been one of them. That began to change recently, at least in the eyes of some folks, as a Chilean wine sold exclusively at Asda, the British supermarket chain owned by Walmart, was named “Best in Show” by a panel of experts at the Decanter Magazine World Wine Awards.
As of Wednesday, Facebook’s Canvas is open for business to marketers looking to create customizable and organic posts featuring images, text and call-to-action buttons. Before this, the HTML5 format was only usable by advertisers. Now the format will be open to retailers and other marketers that operate brand pages. The previous format had textual limits to how posts were laid out and how consumers could interact with them.
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.
Computer manufacturer Acer announced that hackers may have stolen the payment credentials of thousands of its customers. To be more specific, it could be somewhere in the range of 34,500 customers across the U.S., Canada and Puerto Rico, according to a letter from the company. The company notes that the credentials may have been breached by a third party between the dates of May 12, 2015 and April 28, 2016.
Starbucks has found a new solution to every Outlook user’s coffee needs. In partnership with Microsoft , the company has added new functionality to Office 365’s Outlook app that allows coffee-chugging U.S. users to set up meetings at nearby Starbucks stores. The new tool called “Meet at Starbucks” lets users run an in-app search that utilizes their location to find the nearest store and choose it as a location for their upcoming meeting.
You can chalk up another talent acquisition to the folks at Pinterest , this time the team behind a shopping app entirely curated by real fashion experts. After acquiring the custom keyboard app Fleksy last week, news broke this week that Pinterest had acquired the team behind the Sunnyvale, California-based, influencer-driven fashion app tote. Tote bills itself as a “beautiful social shopping app that is entirely curated by people — notably stylists and fashion bloggers.
A group of U.K. banks may have just hit a cross-border blockchain payment milestone. This group, which includes Santander, CIBC and UniCredit, announced this week that it has hit a new milestone in the blockchain innovation space. What the group claims is that it has moved real money with blockchain’s technology using Ripple, a digital settlement firm.
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.
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