Sat.May 07, 2016 - Fri.May 13, 2016

article thumbnail

The Robo-Accountants Are Coming

Boston Startup CFO

A recent story in The New York Times story sent shivers throughout the alleyways of downtown Manhattan with its bold headline, “The Robots Are Coming for Wall Street.” Conjuring images of Arnold Schwarzenegger, armed with scientific calculator and a mandate to snuff out armies of analysts, the story painted a picture of a not-so-distant future in which half of Wall Street loses their jobs to automation software.

article thumbnail

The ‘Nine Deadly Costs Of Fraud’

PYMNTS

Online merchants know very well that fraud costs them in many ways – in chargebacks, in false positives, in the friction that’s introduced at checkout that can cost a sale. But there’s nothing like putting the cost of fraud into the parlance that merchants know really well: units sold. Something that Kount says its data shows that merchants must make eight additional sales to make up for the cost of one fraudulent order.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Should Obama ‘Heed The Call’ On Bitcoin?

PYMNTS

President Barack Obama and his administration get a lot of demands, to say the least. Stop ISIS, bring peace to the Middle East, clean up the economy, create more jobs, fix the education system, lower taxes, etc., etc. Of course, that’s just what comes with the territory. One thing that’s probably not higher on that rapidly growing list?

article thumbnail

A Tale Of Two Payments Regions: UK And Germany

PYMNTS

The only way to predict what the emerging payments trends are for today is to seek out the one group of people who has the power to control the entire market: consumers. But, of course, no two consumers are exactly alike – especially when comparing consumers across different regions of the world. To truly understand how consumers think and act on a global scale, talking to them about their payments preferences is the only way to help those who’d like to influence that behavior seems pretty

article thumbnail

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.

article thumbnail

The Confusing State Of Small Business In America

PYMNTS

Some of the largest financial institutions came out this week with new statistics on small business sentiment in the U.S. Bank of America, Capital One, Wells Fargo, Chase and more published their findings — sometimes to contradicting conclusions. Small business sentiment is perhaps the most mixed and muddled metric. Chase reached some optimistic conclusions regarding how small business owners feel about the year ahead, while Capital One highlighted a 9 percent decline in SME optimism.

More Trending

article thumbnail

Five ‘Major’ FDIC Breaches Come To Light

PYMNTS

Widespread data breaches used to be a dime a dozen in the headlines, but things have gone (relatively) quiet over the last few months. Unfortunately, for the Federal Deposit Insurance Corporation, it turns out that that respite was only because they’re learning about past breaches now. The Washington Post reported that the FDIC is disclosing to Congress the presence of at least five major data breaches that occurred sometime between now and Oct. 30, 2015.

article thumbnail

Alexa’s Evolving Ecosystem

PYMNTS

“The future of payments is in the voice,” MPD CEO Karen Webster wrote on April 28 when the 2016 PYMNTS/Alexa Challenge was first introduced. And the future is getting increasingly closer thanks to the number of developers across the payments and commerce ecosystem looking to use voice as the “access device” into a reimagined world of commerce.

article thumbnail

Why Credit Isn’t Working For Financial Inclusion

PYMNTS

[link]. Just a few months ago at PYMNTS’ Innovation Project 2016 , PayPal CEO Dan Schulman told Karen Webster that “financial inclusion is really about financial health.”. Acquiring that financial health means financial institutions are able to not only know, but accurately identify, their customers. But for many financial institutions, the use of credit as a determining factor on whether to provide access to banking products or not transforms the decision from one based on identity to one based

article thumbnail

Coupa Goes In On B2B Payments Data

PYMNTS

Corporate spend management firm Coupa has wrapped up its Inspire 2016 conference, with no shortage of announcements for the company. Earlier this week, the firm revealed an integration with corporate travel booking platform Sabre, streamlining the expense management process following business trip planning. On Thursday (May 12), Coupa rolled out a few new features for its financial services offering.

B2B 42
article thumbnail

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

article thumbnail

Groupon Is Suing ‘Dial-Up Dinosaur’ IBM For Patent Infringement

PYMNTS

Groupon is taking IBM to court , alleging that the firm infringed upon a Groupon patent relating to tech that makes it easy for businesses to solicit customers by using their location as a starting point. That filing on Monday (May 9) follows — by two months — a suit filed by IBM that also alleges patent infringement. “IBM is trying to shed its status as a dial-up-era dinosaur” by stepping on the rights of “current” tech companies, such as Groupon, noted Groupon spokesman

article thumbnail

Amazon Is Driving The Final Nail Into B&M Home Improvement’s Coffin

PYMNTS

It was one thing when Amazon was selling physical things, but the game changed the moment it started offering services, too. Ripples were promptly sent flying into all corners of the retail universe with the launch of Amazon Home Services in March 2015, and now that both mom-and-pop hardware shops, as well as national brick-and-mortar chains have had more than a calendar year to react to the changes, a definite trend has emerged.

Retail 42
article thumbnail

The Instability Of In-Store Associates Takes Its Toll

PYMNTS

Despite its normal connotations, “disruption” has become a sought-after state in the retail world. Any tech innovation that upsets the status quo isn’t destabilizing to what came before but rather a welcome addition to merchants’ new bag of sales tricks. However, when it comes to in-store automation, many of the country’s largest retailers are struggling to find any clarity in the rush toward retail’s brick-and-mortar future.

Retail 42
article thumbnail

PYMNTS Daily Data Dive: Cyberhack Edition

PYMNTS

It wouldn’t be a Monday in payments if there wasn’t plenty of news to report on about breaches and cyber attacks, right? Well, that’s the case today (May 9) as our news cycle is full of exactly that kind of news. This includes updates about the Philippine bank heist, cyberattack rates in the U.K. and another central bank cyberattack believed to be linked to a threat from the group Anonymous.

Banking 42
article thumbnail

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.

article thumbnail

How Apple Can Reverse Their Revenue Curse

PYMNTS

Not many companies can lay claim to losing as much value in 12 months as the entire market cap of the world’s largest retailer and still remain standing. But that’s exactly what’s happened to Apple over the last 12 months. Apple has subtracted $234 billion from its market cap – about $20 billion more than Walmart is worth. . With a market cap today of $502 billion, Apple’s clearly no slouch either.

Sales 42
article thumbnail

London’s Dirty Little (Money Laundering) Secret

PYMNTS

Insider warnings have led to speculation that London may be transforming into a global hub for illicit finance. At least that’s what a recent investigation by The Financial Times is looking to uncover after an insider at a Swiss bank reportedly disclosed to financial watchdogs in Britain that bankers in a U.K. office were facilitating tax evasion and money laundering.

Banking 41
article thumbnail

Cash And Cards Still (Mostly) Rule Retail Payments

PYMNTS

As far as the popularity rankings of payment methods go in the U.S., there’s movement in each direction by the top two categories — but not by much. It’s the third most popular option — as well as one way down near the bottom of the rankings — that are showing the most potential energy, by comparison. Chain Store Age shares that, according to a new study from Blackhawk Network (called “How America Pays”), cash remains the most popular payment method among U.S. consumers f

Retail 41
article thumbnail

Hackers Target Capitol Hill Data

PYMNTS

It looks as though even the House of Representatives isn’t safe from the threat of ransomware attacks. Hackers recently attempted to access congressional computer systems, encrypt the data and hold it for ransom, various media outlets reported on Tuesday (May 10). “In the past 48 hours, the House Information Security Office has seen an increase of attacks on the House Network using third-party, Web-based mail applications, such as YahooMail, Gmail,” an email from the House’s Technology Service D

article thumbnail

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.

article thumbnail

Startup Secures $12.9M To Weed Out Corporate Hackers

PYMNTS

Investors have signaled some new support for enterprise security. U.S.-based Pwnie Express announced a $12.9 million funding round, reports said on Wednesday (May 11). The Series B funding was led by Ascent Venture Partners, along with existing backers MassMutual Ventures,406 Ventures, Fairhaven Capital and the Vermont Center for Emerging Technologies.

article thumbnail

Swiss Town Says ‘Yes’ To Bitcoin

PYMNTS

While plenty of government officials aren’t ready to jump to support bitcoin as a legitimate payment option, there is one small town in Switzerland that has caught the bitcoin bug. Zug, a northern Switzerland town, has announced it is accepting bitcoin payments for specific services as it tests the digital currency on a trial run to determine if its residents care to pay that way.

article thumbnail

Lending Club’s Bombshell And Alt-Lending Aftershocks

PYMNTS

“What is even more exciting is the potential of where we are headed. I feel that our competitive advantage compared to traditional banks is really long lasting because, again, it is grounded in technology and cost, not something they can react to. “. · Renaud Laplanche , Former CEO of Lending Club, in a 2013 interview. Those were the good old days of Lending Club, a Silicon Valley darling that was the next big thing in lending.

article thumbnail

Philippine Bank President Quits Amid Heist Scandal

PYMNTS

The cyberheist scandal that hit a large Philippine bank, in connection with a $81 million theft, claimed a victim last week. The president of Rizal Commercial Banking Corp. (RCBC), Lorenzo Tan, said he would resign even as he was absolved of any wrongdoing in connection with the case, Reuters reported on Friday (May 6). The official submitted his resignation the week prior, and it became official on Friday, the newswire reported.

Banking 41
article thumbnail

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.

article thumbnail

The Greatest Mobile Opportunity Might Be Email

PYMNTS

The buyer journey is one of the most important things a business can understand, yet still too many do not. Case in point: While most marketers recognize that mobile devices are one of the most powerful channels for engaging with consumers on their path-to-purchase, many are still not getting the most out of the channel. In a rush to embrace the latest technologies or dive headfirst into the latest social platform, more tried-and-true marketing tools available on mobile devices are being swept u

article thumbnail

Google Puts The Kibosh On Payday Loan Ads

PYMNTS

Payday loans and the advertising of some lending products just got a lot less Google-friendly. Google announced that it has updated its AdWords policy to effectively ban advertisers from marketing a number of lending products starting July 13. This decision stems from the number of controversies surrounding pitches by financial loan services, particularly payday loan companies, that have been viewed as deceptive.

article thumbnail

IKEA Pilots QR Code-Based Mobile Checkout

PYMNTS

Mobile payments, particularly in physical locations, have a tendency to fall into the category of solutions in search of a problem to solve. It might be fun to wave a phone at a POS (at least the first few times), but it’s not really all that much better or even really qualitatively different than swiping a card. But that of course assumes that one is purchasing something smaller than a breadbox, which luckily most consumers are during the vast majority of purchases.

article thumbnail

Target Won’t Back Down On Bathroom Policy

PYMNTS

Taking a page from the old Tom Petty Handbook, Target CEO Brian Cornell has officially determined that the retailer will not back down on its inclusive bathroom policy. The tempest in the Target tea kettle blew up in the wake of Target’s announcement that customers shopping in their store would be free to use the bathroom that corresponded to their gender identity (as opposed to the gender listed on their birth certificate, which is a contentious standard that several states are now fighti

article thumbnail

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.

article thumbnail

Facebook Goes Open Source On Cybersecurity Competition

PYMNTS

Facebook’s Capture the Flag (CTF) platform is now going open source in a move to help encourage both students and developers to increase their knowledge about cybersecurity. The competition is designed to have participants create hacks, as well as protect against them happening in the real world, but having access to Facebook’s own CTF platform will allow anyone to host a similar cybersecurity challenge or build upon what the social network has already learned, Engadget reported on Wednesday (Ma

article thumbnail

Tap-And-Pay On The Rise In Europe, According To Visa

PYMNTS

According to the latest data from Visa Europe, one in five in-person card transactions are now being made with a contactless card. That translates to roughly 3 billion tap-and-pay transactions in Europe over the course of the last 12 months, tripling levels from a year ago. The value of those swipes-turned-taps has also been on the rise of late; the 360 million or so uses of contactless cards in April showed a 12 percent uptick in value.

Retail 41
article thumbnail

Online Retail Can’t Rely On Low, Low Prices Anymore

PYMNTS

Common sense isn’t so common when retail is still experiencing its fair share of upheavals from each new disruptor to make it to market, but the decade-plus of online and in-store retail operating side by side has established a few new ground rules that almost everyone can agree on. Brick-and-mortar joints usually have the upper hand on customer service, while online merchants outperform in selection and personalization.

Retail 41