PYMNTS

OCTOBER 18, 2018

Mastercard, the payments company, announced on Thursday (Oct. 18) that cardholder signatures will now be optional for the back of credit cards and receipts. In a press release , Mastercard said it is making the changes due to advancements in technology and security. “With modern, advanced forms of authentication now available, removing the requirement for signature capture at the point of sale and now signature panels on Mastercard cards is an important step in support of our digital evolution,”

Securities 87

Securities Leverage Technology Sales 87

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OCTOBER 17, 2018

Visa announced today the commercial expansion of its Visa Token Service for “credential-on-file token requestors.” This expansion involves adding 20 acquirer gateway and technology partners as token requestors — including the likes of PayPal, Worldpay and Adyen — who can now, or soon will be able to, tokenize credential-on-file digital payments for their merchant and payment clients.

Securities 86

Securities eCommerce Retail Technology 86

PYMNTS

OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. However, Swiss officials recently took steps to get ahead of the regulatory uncertainty surrounding the world of blockchain, focusing on a particularly large hurdle for companies in the industry. In July, reports in the Financial Times said Switzerland is working to open the nation’s traditional corporate banking market to cryptocurrency companies finding it difficult

Banking 85

Banking Planning Currencies Startups 85

PYMNTS

OCTOBER 19, 2018

Internet hackers have pilfered $882 million of digital currency from crypto exchanges since last year, but one group in particular has netted roughly half that amount: Group-IB noted in a report that a North Korean hacking group, Lazarus, has taken $571 million through an analysis of 14 different attacks, The Next Web reported. In general, hackers turn to methods such as social engineering, malware and spear phishing to target digital currency exchanges.

Currencies 79

Currencies Banking Securities Numbers 79

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OCTOBER 15, 2018

When Maryland Attorney General (AG) Brian E. Frosh issued a warning to the state’s small business (SMB) owners last week, he shed light on the fact that, despite business owners’ rising focus on cyberattacks, some scammers continue to use legacy tactics to target their victims. AG Frosh’s warning pertained to a specific small-business cybersecurity threat.

Banking 77

Banking Accounting Technology Securities 77

PYMNTS

OCTOBER 19, 2018

For smaller firms, the IoT has its lures and its dangers. The Nationwide fourth annual business owner survey released at the end of last month, which surveyed 1,000 small and mid-sized business owners about their views on cybersecurity, found that an overwhelming majority – 91 percent – use connected technology. But 48 percent of those surveyed are “unconcerned” that devices – ranging from sensors to drones and used across any number of verticals – may boost their likelihood of cyberattacks.

Securities 76

Securities Technology Retail Numbers 76

PYMNTS

OCTOBER 19, 2018

Citi , HSBC and Banco Santander are among seven major global banks that are banding together to form a cross-border trade finance network, Reuters reported Thursday (Oct. 17). Along with ANZ , BNP Paribas , Standard Chartered and Deutsche Bank , the financial institutions (FIs) have signed a Memorandum of Understanding (MOU) to make trade finance more affordable and efficient for trading companies.

Finance 76

Finance Banking Data Analysis Invoicing 76

PYMNTS

OCTOBER 17, 2018

The U.S. Securities and Exchange Commission (SEC) has issued a stern warning to public companies: tighten cybersecurity controls or risk being in violation of federal law. The regulator issued a report based on the SEC Enforcement Division’s investigations of nine public companies that lost millions of dollars as the result of cyber fraud. The companies, which each had securities listed on a national stock exchange, were in sectors including technology, machinery, real estate, energy, financial,

Prioritization 76

Prioritization Securities Accounting Banking 76

PYMNTS

OCTOBER 19, 2018

To really beat someone, or something, one must respect and understand that person or organization, even if they dislike or loathe them. That’s ancient wisdom — “know thy enemy” — that not only applies to martial situations, but to the biggest challenges in life. OK, enough of the generalities. Payment and commerce fraudsters are becoming terrifyingly sophisticated.

Securities 75

Securities Retail Technology Accounting 75

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Planning

PYMNTS

OCTOBER 16, 2018

In the coexisting — and sometimes colliding — worlds of FinTech and traditional financial services, a bit of collaboration often evolves. At times, that collaboration even moves with a bit of regulatory underpinning. So, it is in far-flung corners of the globe where, in recent days, regulators and cross-border efforts have promoted a bit of cross-pollination between tech-savvy upstarts and more entrenched players in the financial arena.

Banking 75

Banking Startups Securities Planning 75

PYMNTS

OCTOBER 16, 2018

While much has been said and written about the blockchain in recent years – good and bad – generally speaking, few have ever really considered it as an artistic venture. In the sense that anything ingenious is a work of art, one could say that distributed ledger is an art all on its own – but that would be a bit of a stretch. But though technology and art by nature seem to be fundamentally different things with different purposes, sometimes they can come together in unexpected ways.

Sales 75

Sales Securities Technology Numbers 75

PYMNTS

OCTOBER 15, 2018

Barclays is ready to offer U.S. consumers a low-cost, digital-only bank that will directly compete with Goldman Sachs ‘s Marcus brand. Barry Rodrigues, CEO of cards and payments at Barclaycard International, told Financial Times that the new offering would “leverage Barclays’ U.K. knowledge and expertise” to create a checking account for its U.S. online bank, which already offers credit cards, savings and loans to 13 million customers.

Banking 75

Banking Accounting Leverage Marketing 75

PYMNTS

OCTOBER 14, 2018

U.S. Senators John Cornyn and Mark Warner, co-chairs of the Senate India caucus, sent a letter to India’s Prime Minister Narendra Modi urging him to soften his stance on rules that require customer data to be stored locally. Reuters , citing the letter, reported the Senators urged Modi to have a lighter touch in the customer data storage regulatory framework so that data can flow freely across borders.

Economics 74

Economics eCommerce Finance Banking 74

Speaker: Jamie Eagan

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Finance

PYMNTS

OCTOBER 16, 2018

The number of peer-to-peer lenders in China is projected to decline greatly to around 50 from more than 1,500 during the course of the next year. The Financial Times , citing Greg Gibb — chief executive of Lufax, one of the biggest peer-to-peer lenders in China — reported that regulators are gearing up to issue licenses during the next year to companies that meet very strict criteria.

Numbers 74

Numbers Marketing 74

PYMNTS

OCTOBER 17, 2018

Fraudulent noncash payment values have increased by a lot in the U.S. between 2012 and 2015, surpassing growth in noncash payments, the Federal Reserve found. According to data from the Federal Reserve Payments study, it found the value of noncash fraud jumped 37 percent to $8.3 billion in 2015 from $6.1 billion in 2012. During the same period, the Federal Reserve found the total value of noncash payments increased to $180.3 trillion from $161.2 trillion.

Numbers 73

Numbers Accounting Securities 73

PYMNTS

OCTOBER 16, 2018

In a bid to serve customers through digital channels, quick-service restaurants (QSRs) are rolling out new innovations. These technologies bring more options for consumers to order and pay for their meals, such as kiosks and mobile ordering. In one new approach, some QSRs are offering delivery beyond the home and office. In April, Domino’s Pizza announced that Domino’s Hotspots would allow customers to receive deliveries in spaces such as parks, sports fields or beaches.

Technology 73

Technology Sales Financial Reporting Investments 73

PYMNTS

OCTOBER 15, 2018

Small business (SMB) cloud solutions provider Zoho is reportedly teaming up with Mastercard in India to provide holistic accounts receivable solutions. A press release from Mastercard, issued Monday (Oct. 15), said the companies will promote acceptance of digital payments for India’s 73 million SMBs through their “ SME in a box ” solution.

B2B 73

B2B Compliance Accounting Banking 73

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Reconciliations

PYMNTS

OCTOBER 17, 2018

Business services conglomerate Accenture is expanding its blockchain solution offerings with the development of a procurement platform launched in Thailand. The company announced this week that it collaborated with Thai FinTech firm Digital Ventures, a subsidiary of Siam Commercial Bank, to create a blockchain-powered solution that facilitates the buying and selling of goods for businesses and their vendors.

Invoicing 72

Invoicing Finance Securities Numbers 72

PYMNTS

OCTOBER 15, 2018

It’s a tale of two malls: With closings of large anchor stores on the horizon, some mall owners would welcome the opportunity to find more profitable tenants. Other mall owners, however, find the loss of anchor stores to be a challenge. Either way, the news that Sears has filed for bankruptcy has brought to light the difference between malls – and how their owners may view the loss of a large anchor tenant differently.

Profit and Loss 71

Profit and Loss Entertainment Retail Numbers 71

PYMNTS

OCTOBER 18, 2018

In search of added convenience and simplicity, banking customers are migrating to online and mobile banking interfaces, leaving in-person visits to brick-and-mortar branches behind. While this switch in preference to digital banking is providing new tools and capabilities to consumers, it’s also presenting new opportunities for fraudsters — and they’re not hesitating to take advantage.

Banking 71

Banking Accounting Securities 71

PYMNTS

OCTOBER 17, 2018

Corporate treasurers have said they’re interested in a slew of cutting-edge FinTech solutions that experts believe will disrupt financial business management. Yet, a new report from the Association for Financial Professionals (AFP) warned of only minuscule adoption of these tools so far, a trend that analysts described as “troubling.” In its 2018 AFP Technology Survey , underwritten by corporate treasury management firm BELLIN , the AFP surveyed 708 corporate finance executives

Treasury 71

Treasury Corporate Finance Finance Technology 71

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Accounting

PYMNTS

OCTOBER 16, 2018

For a potential initial public offering (IPO), Wall Street banks have reportedly given Uber proposals that value the company as high as $120 billion. According to people with knowledge of the matter, the IPO could happen early in 2019, The Wall Street Journal reported. At $120 billion, the company would be worth roughly two times as much as it was two months ago in a funding round.

Valuation 71

Valuation Advertising Marketing Sales 71

PYMNTS

OCTOBER 19, 2018

To open its EMV® Secure Remote Commerce (SRC) specification for public comment for a 45-day period, secure payments enabler EMVCo has issued a draft version of the specification called version 0.9. The organization wants to allow merchants, payment networks and card issuers, among other payment industry participants, to contribute to version 1.0, which will be released next year, the company said in an announcement.

Securities 70

Securities eCommerce Technology 70

PYMNTS

OCTOBER 17, 2018

A new report from the Federal Trade Commission (FTC) says that fraudsters are increasingly requesting to be paid with gift cards, with some even asking for certain brands such as Google Play and iTunes gift cards. The FTC examined fraud reported directly to the agency and excluded reports about shop-at-home purchases, finding that from January through September of this year, gift cards and reload cards were reported as a payment method in 26 percent of the fraud reports, up from just 7 percent i

Numbers 69

Numbers Securities 69

PYMNTS

OCTOBER 19, 2018

Following the proposal of a payments regulator to be established independent of the Reserve Bank of India (RBI), the central bank has put forward a public objection. The regulator would have a chairperson chosen with input from the RBI, but the central bank objects to having the regulator outside of its control and not led by its governor, Reuters reported.

Banking 68

Banking Marketing Technology 68

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