Sat.May 02, 2020 - Fri.May 08, 2020

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Georgia’s Push To Reopen Falls Flat As Consumers Stay Home

PYMNTS

The road to recovery after the coronavirus pandemic is widely expected to be a winding one as businesses, consumers and officials work to figure how to restart an economy intentionally shut down roughly two months ago. It is a situation complicated by the fact that a roughly comparable event hasn’t occurred in the U.S. in over a century, meaning there is no living expert with any practical expertise at managing the fallout from an incurable pandemic.

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4 Ways to Get Cash and Credit For Business Fast

Business Credit Blogger

Get Cash and Credit for Business Fast Access to cash and credit for your business is crucial whether you’re in the early stages of starting a business or been in operation for years. When you have working capital, you have the ability to cover those unforeseen expenses you didn’t plan for and other costs you […]. The post 4 Ways to Get Cash and Credit For Business Fast appeared first on Business Credit.

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China's shadow financing system faces rising asset impairment

Future CFO

The shadow financing system in China will come under growing pressure in 2020 as the coronavirus pandemic takes a toll on private companies' ability to generate cash flow, said Fitch Ratings recently. As a result of the expected prioritising of economic stability over deleveraging by the Chinese government this year, the clampdown on shadow banking will ease as the authorities look to stave off a potential wave of defaults associated with the pandemic and its fallout, the rating agency noted in

Finance 52
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Getting the most out of your Investor Update email?—?tips from your target audience

BlueLight

Getting the most out of your Investor Update email?—?tips from your target audience By Christian Noske & Alex Lee This piece is a team effort between Christian Noske and myself. Christian is the Head of Alliance Ventures. We started talking about how important it is to have transparency between an investor and its portfolio companies. The outcome was this piece on Investor Updates.

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Planning Your Restaurants Path to Profitability

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.

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Virtual Tellers And Workhorse ATMs: Banking’s New (Digital-First) Normal

PYMNTS

The prospect of restarting the economy of bringing all manner of everyday life in the U.S. back to some semblance of “normal” has challenges — and opportunities for banks, especially community banks and credit unions. The challenge lies with serving the needs of the individual who may be hesitant to go back to the old ways of banking — of walking up to teller windows, of handling cash in envelopes.

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Epsilon appoints Craig Forrester as Group CFO

Future CFO

Epsilon said today it has appointed Craig Forrester (pictured) as its Chief Financial Officer, with immediate effect. . Forrester will lead Epsilon’s global finance and legal functions and work alongside recently appointed Chief Executive Officer Michel Robert to drive its business growth globally, the company noted. In addition, he brings more than two decades of experience to the role having held positions at Colt, BT, Sony and Lucent, according to Epsilon with a statement.

CFO 52
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Why Unified Commerce Is Critical For Merchants — And Catnip For Fraudsters

PYMNTS

The shift to digital commerce is more urgent than ever — and so are some of the potential pitfalls as fraudsters recalibrate their attacks and eye card-not-present transactions as a new way to make off with ill-gotten gains. In an interview with Karen Webster, Carleigh Jaques, senior vice president and general manager of CyberSource , a Visa solution, said commerce is now different, especially for smaller enterprises.

Invoicing 104
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Visa Leads Latest Funding For FinTech Startup Nium 

PYMNTS

FinTech payments startup Nium , based in Singapore, is getting a new round of funding led by new investors Visa and BRI Ventures. Nium, formerly known as InstaReM, has closed four funding rounds totaling $59 million since it was founded in 2014. The size of this latest round was not disclosed. Prajit Nanu, chief executive officer (CEO) and co-founder of Nium, said in a statement on Wednesday (May 6) that he is “thrilled” to get the backing of “prestigious” new investors like Visa and BRI Venture

Startups 102
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Payoneer CEO: eCommerce’s Surge And Brick-And-Mortar’s ‘Vicious Cycle’

PYMNTS

The coronavirus has spurred a seismic shift in commerce, moving shopping into the digital realm. . Consumers are buying anything (and seemingly everything) and conducting all manner of everyday business online because that is their only option. . In an interview with Karen Webster, Scott Galit, CEO of Payoneer , said the impact will continue to be global in scope and deeply felt across all avenues of commerce — giving new rise to cross-border commerce. .

eCommerce 102
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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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NEW DATA: States Push To Reopen – Will Consumer Demand Follow?

PYMNTS

It has been almost two months since the World Health Organization (WHO) first declared the coronavirus a pandemic on March 11, and it has since taken an unprecedented toll on consumers’ wellbeing and livelihoods. Many policymakers are making a push to lift the restrictions that have been put in place to slow the spread of contagion in the hopes of reviving the battered economy.

Planning 100
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Vista Equity Injects $1.5B Into India’s Jio Platforms

PYMNTS

Jio Platforms Ltd., India’s largest mobile operator, announced it is raising 113.67 billion rupees ($1.5 billion) from Vista Equity Partners, the U.S. private equity firm. The deal is the latest in a series of investments by the Mumbai-based firm to eliminate its debt, The Wall Street Journal reported. . Last month, PYMNTS reported that Facebook would invest $5.7 billion for a 10 percent stake in Jio Platforms, the digital technology arm of Indian billionaire Mukesh Ambani’s conglom

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Out-Thinking Hackers With Adaptive AI

PYMNTS

Whether the objective is teaching behavior to kids, being an effective team member, or building more impenetrable cyber defenses, learning from a good example works. This is pertinent to artificial intelligence (AI) in finance, where enhanced forms like adaptive AI are fulfilling the technology’s promise by actually “learning” — foremost from the behavior of legitimate deposit account holders — so that hackers stand out when they make a move.

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Earnings Reports from FIS to PayPal Herald Point of Sale’s ‘New Normal’

PYMNTS

For companies like Fiserv, Fidelity National Information Services (FIS), PayPal and others, selling terminals, offering payments platforms and designing checkout buttons, top and bottom lines were poised to move up and to the right. The first quarter of 2020 should have been business as usual — especially for the payments processors and financial services technology companies — the firms that keep commerce humming across offline and online channels.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Federal, State Investigators Question Wells Fargo Over PPP Loans

PYMNTS

Federal and state officials are investigating Wells Fargo regarding the bank’s management of Paycheck Protection Program (PPP) loans. A regulatory filing on Tuesday (May 5) indicated that the country’s fourth-largest bank received “formal and informal inquiries from federal and state governmental agencies regarding its offering of PPP loans.”. The San Francisco-based bank started processing applications for PPP loans on April 4, a day after the program opened.

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Securing The Growing Digital Opportunity

PYMNTS

People have been talking about the world “going digital” for the last decade, and anticipating the arrival of a digital-first world. But even the most enthusiastic futurist or technologist couldn’t have forecast that by the first week of May 2020 the world would no longer be going digital so much as gone digital in response to black swan events that radically hit reset on our working, commerce and personal lives nearly overnight.

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1 In 4 US Cardholders Saw Credit Limit Cut Over The Last Month

PYMNTS

Nearly 50 million credit card customers in the U.S. said they have had their credit limit slashed or their card closed in the past month as lenders move to minimize their risk amid the COVID-19 shutdown, a new study revealed. The survey, released on Monday (May 4) by CompareCards, a division of LendingTree, found one in four Americans say their credit card terms have been changed involuntarily since the start of the coronavirus pandemic.

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Credit Unions, CUSOs Fighting Fraudsters

PYMNTS

“Credit unions across the country are on high alert for scammers looking to take advantage of members during the pandemic and are stepping up fraud prevention efforts as a result,” according to PYMNTS’ April Credit Union Tracker® done in collaboration with PSCU. Detailing warnings recently issued by New York’s Sidney Federal Credit Union and the City of Boston Credit Union, among many others, credit union (CU) members are the target of cyberattackers posing as the Centers for Disease Contr

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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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Fed Launches FedNow Community For Instant Payments, Seeks Participants

PYMNTS

The Federal Reserve has formed a FedNow Community group for its upcoming instant payment offering, the FedNow Service , and needs volunteers to support it, the Fed announced Wednesday (May 6). The Fed acknowledged the challenges brought on by the coronavirus but noted the FedNow Service is still scheduled to be unveiled in 2023 or 2024. “While we work to support the industry and our customers during this difficult time, we want to ensure that our collaboration with industry stakeholders on FedNo

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Samsung Pay Launches Debit Card, Money Management

PYMNTS

Samsung Pay is launching a physical debit card and this summer will introduce a money management tool in partnership with SoFi. “Now more than ever, people are counting on technology to help them make contactless payments, shop, and manage their finances without leaving the house,” said Sang Ahn, vice president and GM of Samsung Pay’s North America service business, in a statement.

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Room To Grow For ‘Buy Now, Pay Later’

PYMNTS

“Buy now, pay later” (BNPL) options are very popular — when people know they exist, that is. In the April-May 2020 edition of the Buy Now, Pay Later Tracker® , done in collaboration with Afterpay , we discover that the draw of instant credit has greater potential than it has already shown and, as awareness grows on this concept, there’s plenty of headroom for growth.

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Online Gambling And The Challenges Of Betting On Instant Disbursements

PYMNTS

The COVID-19 pandemic has had a noted effect on how several industries can operate and interact with their customers during this time including retail stores, movie theaters and casinos. The pandemic has shut down brick-and-mortar casinos in markets like the United States to help minimize risk, for example, leading consumers to turn to online casinos and sportsbooks.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Testing, Cleaning Rules Needed Before Schools Reopen, Public Health Experts Say

PYMNTS

With talk about reopening the U.S. economy come questions around how schools are going to handle reopening. Labor and public health experts say extending school closures is not sustainable, as parents will have to return to work and won’t be able to do that if the kids are still out of school, a CNBC report noted. It will be difficult, as predictions from medical officials say another wave of coronavirus could hit by the winter.

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With Wynn’s $402M In Net Losses, Is Online Gambling The Future Of Gaming?

PYMNTS

With results that show how COVID-19 closures are impacting the gaming industry, Wynn Resorts Ltd. reported a net loss of $402 million for the first quarter of 2020. While the results mark a drop into the red from income of almost $105 million a year before, CEO Matt Maddox foresees built-up demand waiting to be released for leisure activities. The executive noted in The Wall Street Journal that individuals were visiting beaches in Southern California in droves, and eateries were opening for busi

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Why Consumers Aren’t In A Rush To Restart The Economy

PYMNTS

Economists, policymakers and epidemiologists have been modeling the cost/benefit of reopening the U.S. economy since governors began asking their citizens to #stayathome in mid-March, and even well before that. A decision to reopen, even partially, must weigh the economic impact of keeping the economy locked down against the availability and effectiveness of treatments that will mitigate or eliminate the risk of another serious outbreak, as well as illness and deaths, within months of reopening

Retail 83
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Mastercard’s Playbook On Fighting Online Fraud’s Big Surge

PYMNTS

The shift to online commerce in the wake of the coronavirus pandemic is unprecedented. We’re doing more of everything online, especially transacting. Subscriptions, groceries, even buying shoes are all being introduced to digital channels in ways and volumes they haven’t been before. In an interview with Karen Webster, Laura Quevedo, senior vice president of Security & Decision Products at Mastercard , said that just as the surge toward spending online is unparalleled, there isn’t a concrete

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PowerPoint Best Practices for Creating Stellar Presentations

Mastering data visualization in PowerPoint will help accelerate your career because it positions you as someone who can present data that drives business decisions forward. think-cell's PowerPoint Best Practices eBook was created specifically for professionals aiming to master the art and science of data-driven storytelling. What’s inside: Practical Insights: Uncover valuable tips for crafting engaging and persuasive presentations.

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Florida Retail Reopening Fails To Draw Consumers

PYMNTS

Retail reopening events continued to draw light foot traffic on Monday, as Florida joined Texas in allowing non-essential stores to reopen. Meanwhile the digital shift momentum continues to draw new infrastructure. Florida granted permission for stores to reopen Monday (May 4), the first phase of a return from the coronavirus lockdown. A report from Tampa, among others, showed that few of the outlet stores took advantage.

Retail 82
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Frontier To Allow Passengers To Purchase Extra Space On Planes

PYMNTS

As the world steadily inches toward reopening after several months of coronavirus-related lockdowns, Frontier Airlines will give people the option to pay extra to leave the middle seat in their row empty, per reports. The gesture is an attempt to adhere to social distancing measures to ease people back into traveling while the virus is still present.

Numbers 82
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Balancing Gig Workers Desire For Work Flexibility, With The Need For A Steady Paycheck

PYMNTS

Businesses and consumers still see the new coronavirus’s reverberating effects upon their finances and lives. Gig workers have been particularly affected by the pandemic, as many saw their opportunities for work dry up and disappear over the past few months amid stay-at-home orders and social distancing protocols. The United States government has attempted to offer relief through its federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, which opens unemployment benefits to self-emp