PYMNTS
OCTOBER 6, 2017
The Electronic Payments Association and the Payments Innovation Alliance announced Wednesday (Oct. 5) that it released a Meeting Summary Report and Overview Document from the latest meeting of the API Standardization Industry Group. In a press release , the groups said the API Standardization Industry Group, which was formed in spring of 2017, is aiming to standardize the use of APIs in the U.S. financial services industry.
PYMNTS
OCTOBER 3, 2017
Cryptocurrencies may have naysayers on Wall Street, but Goldman Sachs isn’t one of them, according to news from The Wall Street Journal. Citing people familiar with the matter, the Wall Street Journal reported that Goldman Sachs is mulling whether to launch a new trading business that is focused on bitcoin and other cryptocurrencies. If the firm moves ahead with these plans, it will be the first high-profile Wall Street company to deal directly in the bitcoin trading market.
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PYMNTS
OCTOBER 2, 2017
“Retail isn’t dead; it needs a revival.”. With a list of bankruptcies growing ever longer, suburbs hosting the carcasses of scores of dead and dying shopping malls and foot traffic on an ever-falling curve, it’s not hard to draw the conclusion that retail — or, at least, the brick-and-mortar version of it — is dead. But b8ta doesn’t buy it, hence the motto quoted above.
PYMNTS
OCTOBER 6, 2017
On Thursday (Oct. 5), Alenka Grealish, senior analyst at Celent, penned an article for American Banker with a prediction: The small business (SMB) credit space is headed for a “shake-up.” The small business loan market is oversaturated, she argued, creating a “FinTech credit bubble” that first showed signs of deflating as investors pulled out of some players like CAN Capital and LendingClub in 2016.
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PYMNTS
OCTOBER 4, 2017
Rumors are swirling that Apple is currently testing Apple Pay Cash internally using iOS 11.1 and an accompanying device certificate. According to news from 9to5Mac , 11.1 was released in beta to developers last week, but not everyone received Apple Pay Cash. The new service was announced at Apple’s Worldwide Developers Conference over the summer, but the feature wasn’t included when iOS 11 launched to the public last month.
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PYMNTS
OCTOBER 6, 2017
Two Indian alternative lenders are partnering up to target the nation’s small- and medium-sized businesses (SMBs). Reports in The Economic Times on Thursday (Oct. 5) said Tata Capital and Capital Float are teaming up, a deal in which Tata Capital will provide working capital loans to SMBs borrowing through Capital Float’s platform. The companies have also developed a new solution, the “Pay Later” offering, that enables companies to borrow, based on a credit limit, for up to a year.
PYMNTS
OCTOBER 6, 2017
Looks like Jessica Alba’s co-founded Honest Company might be in a bit of honest trouble. According to emerging news reports, the five-year-old home and body care product company is looking to raise $75 million in new Series D venture capital funding at $19.60 per share, according to a Delaware filing first spied by CB Insights and reported by Axios.
PYMNTS
OCTOBER 4, 2017
Sleep tech startup Eight has launched a new Alexa skill that allows users to interact with their mattress, both to control it (by adjusting the temperature, for example) and to access their sleep data using the Echo and other Amazon devices. “You don’t even need to touch your phone – you can just ask Alexa how you slept,” CEO Matteo Franceschetti told TechCrunch.
PYMNTS
OCTOBER 2, 2017
Bank customers and regulators would likely agree: There’s no excuse for a financial institution to accept lackluster cybersecurity measures. But according to a new report from BitSight, that’s exactly what’s happening as FIs work with partners and other third-party service providers. Last week, the company published its latest report, “ The Buck Stops Where?
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PYMNTS
OCTOBER 6, 2017
United Parcel Service and FedEx stocks were under pressure Thursday (Oct. 5) after reports surfaced that Amazon is testing its own delivery service to reduce congestion in its warehouses and offer more products for free two-day shopping. First reported by Bloomberg , citing people familiar with the plan, the service is being called Seller Flex internally, which was initially launched by Amazon in 2015 in India.
PYMNTS
OCTOBER 5, 2017
Seattle-based Amazon’s long-rumored delivery service — and feared disruptor of FedEx Corp. and the United Parcel Service (UPS) — may actually be coming soon, according to Bloomberg. Reports emerged this week that Amazon is testing the service as part of its push to expand free two-day delivery offerings and solve its warehouse overcrowding problem.
PYMNTS
OCTOBER 3, 2017
In payments, there are revolutions marked by sweeping changes in very short periods of time — online shopping, anyone? For payment platforms, the conduits that keep commerce’s wheels greased are similarly transformed by change, and with constant evolution in the cards. In a recent interview with PYMNTS, Tammi Shapiro, vice president of product strategy and management at financial services provider Fiserv , laid out some of the ways in which businesses — especially the most traditional, in the la
PYMNTS
OCTOBER 6, 2017
Digital payments and cryptocurrencies like bitcoin may be getting all the attention, but that doesn’t mean cash doesn’t still reign supreme. At least, that’s the case in England anyway, with Bank of England ’s (BOE) Chief Cashier Victoria Cleland adamantly stating that “cash is not in decline.”. Cleland made the remarks at the Future of Cash Conference in Vienna, Austria, on Oct. 5, continuing the argument that, despite the fact that non-cash purchases and transactions are on the rise in the U.
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
OCTOBER 5, 2017
Paying with your smartphone is OK, but having the option to pay with any device you want — phone, smartwatch, fitness tracker, key fob — all while enjoying the confidence that the transaction is equally secure no matter which method you choose — now that’s the consumer way. Options and convenience are two tried and true methods for winning users in the technology world, and those are exactly what FitPay and NXT-ID aim to offer.
PYMNTS
OCTOBER 2, 2017
A recent “Lost in Transaction” Paysafe study polled 3,000 consumers in the U.S., the U.K. and Canada regarding their attitudes about the use of cash. According to its findings, the mobile wallet movement may be gathering momentum. More than half of consumers appear to be expecting to adopt digital payment methods in the next few years. The Paysafe study focused on one main question: What is the tipping point that has been moving people from cash payments to alternative cash formats, thus setting
PYMNTS
OCTOBER 6, 2017
Cash is thriving, despite the emergence of bits and bytes. That statement may come as a surprise against a backdrop where digital wallets and eCommerce have grabbed their share of headlines and acclaim in the payments world. But as readers in this space know, the move to cashless is not a done deal, nor is it written in the cards (no pun intended). A recent whitepaper by Cardtronics , in partnership with Edelman Intelligence for its 2017 Health of Cash study , has been titled “ In a Digital Worl
PYMNTS
OCTOBER 6, 2017
“Smart House” used to be just a Disney Channel Original Movie; perhaps you watched it back in good old 1999, or remember having kids who watched it. After losing his mother to an ice skating accident, the 13-year-old hero wins his family a house that is fully automated by an artificial intelligence (AI) named Pat. Thanks to some reprogramming efforts by the protagonist, Pat soon becomes too intelligent and morphs into an overbearing mother figure who eventually traps the family inside, deeming t
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PYMNTS
OCTOBER 2, 2017
Coinbase, the popular cryptocurrency exchange, is facing an inquiry by regulators in the U.S. over a flash crash back in June that erased nearly all the value of the Ethereum (Ether) currency, the second most popular cryptocurrency. According to a report in Bloomberg , the Commodity Futures Trading Commission (CFTC) wants information from Coinbase about its GDAX platform and the June 21 crash.
PYMNTS
OCTOBER 2, 2017
Aiming to protect users from hackers and political operatives, Google is gearing up to enhance its online security tools. Citing two people familiar with the company’s plan, news from Bloomberg reported that starting in October, it will roll out its Advanced Protection Program, which will provide increased security tools for online accounts, such as email or other services.
PYMNTS
OCTOBER 5, 2017
Commerzbank is the latest financial institution to join the blockchain-fueled trade financial initiative launched by UBS and IBM, according to Reuters news reports on Wednesday (Oct. 4). Bank of Montreal, Erste Group Bank and CaixaBank have also jointed the effort, which has culminated in the launch of the Batavia platform to help banks and their corporate clients streamline trade finance processes.
PYMNTS
OCTOBER 4, 2017
Trulioo , the global identification company, announced news on Wednesday (Oct. 4) that it launched its Global Business Verification solution aimed at providing a low-cost way to conduct due diligence on businesses around the world. In a press release, Trulioo said the tool can help verify if a business is real in order to enable companies to detect cybercrime, fraud and other criminal activity, like tax evasion or money laundering.
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PYMNTS
OCTOBER 3, 2017
Though paper checks are clunky, unpopular and outdated, they still dominate the American economy in terms of payment methods, with more than $22 trillion in checks written each year. That’s bad news for consumers, though, who have made it clear they feel it’s time to #KilltheCheck. They rated checks as the worst disbursement method, giving it a score of 4.4 out of 100 in the inaugural PYMNTS Disbursement Satisfaction Index™, in collaboration with Ingo Money.
PYMNTS
OCTOBER 3, 2017
One week after reporting a $3.1 billion financing infusion from a group of lenders led by JPMorgan Chase, toy and game retailer Toys R Us is announcing new steps in its post-bankruptcy restructuring. In recent retail news, Chain Store Age reported Monday (Oct. 2) that Toys R Us has partnered with global marketplace solutions provider Mirakl to create a new online marketplace.
PYMNTS
OCTOBER 3, 2017
Challenger banks. The image is one of “put up yer dukes” in Europe’s financial world, specifically in the U.K. Scrappy upstarts versus older and slower, but experienced, champions. Megabytes of data vs. marbled halls. And against all of this, PSD2 , of course, looms large. The directive is meant to foster innovation in the banking sector. Beginning early next year, banks are required to have APIs in place that would allow consumers to opt into third-party services.
PYMNTS
OCTOBER 6, 2017
When it comes to advancements in robotics and artificial intelligence (AI), new research finds that Americans are more worried than excited about what this new technology means for them. A Pew Research Center survey of 4,135 U.S. adults presented respondents with four different scenarios relating to automation technologies, including the development of autonomous vehicles that can operate without the aid of a human driver and a future in which robots and computers can perform many of the jobs cu
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