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Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015. Also, total counterfeit fraud dollars went down by 48 percent.
KSM is honored to be named among the Best Places to Work in Indiana for the 14th consecutive year. The distinction is awarded by the Indiana Chamber of Commerce based on employer reports and comprehensive employee surveys. In addition to being a repeat Hall of Fame recipient, KSM is one of only two companies in the state of Indiana to have been named a Best Place to Work every year since the program’s inception.
The costs of using some cards is going on the incline, as news is breaking that the nation’s two largest card networks, Visa and Mastercard, are preparing to up the fees charged to merchants to accept network-branded cards. The change will go into effect in early April, according to reports from The Wall Street Journal. According to a Visa spokeswoman, the new price changes impact fees that Visa hasn’t adjusted in at least three years.
Entrepreneurs sometimes see opportunity in places that are far from the hustle and bustle of city life: When spending time in San Francisco, Outdoorsy Co-founder and CEO Jeff Cavins spotted an unmet need for accommodations other than hotels or home shares in scenic destinations. And while he noticed that people loved camper vans and recreational vehicles (RV), there weren’t many places to rent them.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
In a settlement that has been given preliminary approval by a federal court in New York, Visa and Mastercard, along with bank defendants, have agreed to provide roughly $6.24 billion in settlement funds. The funds are subject to a deduction that is said not to exceed $700 million, according to a notice authorized by the U.S. District Court for the Eastern District of New York.
There are markets and there are $100 trillion markets. And might digital payments be in that $100 trillion classification? In an interview with CNBC, PayPal CEO Dan Schulman estimated the market will come into that size, noting, “That’s sort of the market — total adjustable market — we’re playing into.” He said that his firm may have as much as 1 percent to 2 percent of the market currently.
Among the main virtues of this golden era of eCommerce and digital payments is speed. Seemingly instant access to extremely specific product pages. Quick browsing. Fast checkout and transactions — the fewer buttons the better. Have-it-yesterday delivery. Sometimes, though, that ideal of speed can and even should take a back seat to content — the type of content designed to pull in sophisticated or specialized consumers, the type of content that can seem out of place during this time of reduced a
Among the main virtues of this golden era of eCommerce and digital payments is speed. Seemingly instant access to extremely specific product pages. Quick browsing. Fast checkout and transactions — the fewer buttons the better. Have-it-yesterday delivery. Sometimes, though, that ideal of speed can and even should take a back seat to content — the type of content designed to pull in sophisticated or specialized consumers, the type of content that can seem out of place during this time of reduced a
JPMorgan Chase is gearing up to take on the likes of Apple Pay, PayPal, and Stripe by boosting its market share in the global treasury services industry by a goal of 50 percent. The Financial Times , citing Takis Georgakopoulos, the head of JPMorgan’s new wholesale payments unit, reported the goal is to increase its market share during the next few years by increasing business with foreign multinationals as well as in the eCommerce market.
Heading toward potentially becoming a public company, Peloton Interactive Inc. is reportedly talking with banks about an initial public offering (IPO). The company is seeking a debut in the latter half of the year, The Wall Street Journal reported. According to unnamed sources cited by the outlet, the company is looking for a valuation over $4 billion.
Adyen, the payments platform, announced Wednesday (Feb. 20) it has launched a new payment service that is powered by open banking. In a press release, the company said it launched an alternative to card payments that takes advantage of the European Union’s Payment Service Directive (PSD2) requirement for banks to create APIs for third parties to initiate payments on behalf of consumers.
Brex has announced that it is partnering with Mastercard to issue the World Elite Mastercard for Business, offering an enhanced rewards structure and expanded suite of travel benefits. Started in 2017 by the founders of Brazilian payments processor Pagar.me , Brex’s investors include Y Combinator Continuity, Ribbit Capital, Greenoaks, DST Global, Peter Thiel and Max Levchin.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 billion payments. In a press release , NACHA said it is the fourth year in a row that the ACH Network added more than 1 billion new payments. “The results for 2018 make clear that the ACH Network is vibrant and continues to be a vital component of the nation’s economic engine,” NACHA Chief Operating Officer Jane Larimer said in th
The relationship between FinTechs and banks has been complicated, with relatively young upstarts competing with established financial institutions in a new and growing world of digital payments and commerce. But, in fact, banks and FinTechs may make for the perfect marriage, as each works to leverage their unique strengths and opportunities. FinTechs, especially younger firms, might have robust technology as well as strong solutions to problems.
Mercury FX , the international currency exchange provider, is reportedly relying on Ripple’s XRP xRapid to open up ten new payment corridors by the middle point of this year. According to a report in OracleTimes , Mercury FX chief executive Alastair Constance said during the Ripple Regionals 2019, a company event held in London, that it will use xRapid for payments from the U.K. to Canada and the Middle East.
Jack Dorsey, billionaire tech founder and current CEO of Twitter, said he only owns bitcoin and that he supports the Lightning Network , a bitcoin network update that could make bitcoin payments speedier and less expensive, according to reports. Dorsey tweeted on Tuesday (Feb. 5): “I only have bitcoin.” Dorsey also founded payment company Square , which allows users to buy and sell bitcoin through the Cash app.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Home improvement startup Houzz revealed that it suffered a data breach. The company said in a FAQ on its website that the breach was discovered in late December 2018, and that “a file containing some of our user data was obtained by an unauthorized third party.”. Once its security team became aware of the issue, it immediately launched an investigation with assistance from a leading forensics firm.
Enterprise blockchain platform XinFin is joining the R3 consortium, with the R3 Corda marketplace hosting several XinFin apps for business users, the companies said in a press release Friday (Feb. 8). The blockchain-powered XinFin applications include invoice financing, trade finance, real-time remittance, digital asset management and apps with other functionality.
The Internet of Things (IoT) is about much more than the actual things, of course. All those “smart” appliances, speakers, TVs, vehicles, thermostats and other devices connect to networks and infrastructure in certain ways, with that back-end work a relatively significant source of anxiety in the world of digital payments and commerce. New funding generally targeting those connections, networks and infrastructure — along with fresh PYMNTS research — provide further evidence of the ongoing growth
AlipayHK users will soon be able to use the service in parts of Japan and Southern China, the company said on Tuesday (Feb. 26). The service will be available next month in the Chinese cities of Shenzhen and Guangzhou, where AlipayHK customers can use their app in any places that accept Alipay, including theme parks, hotels and retail stores. In the Japanese city of Fukuoka, AlipayHK users can shop at the popular department-store chain Daimaru Tenjin.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
ACI Worldwide has announced a deal with The Western Union Company that will see ACI acquire Speedpay, Western Union’s United States bill pay business, for $750 million in an all-cash transaction. The combined ACI-Western Union business will service over 4,000 customers across the U.S. and have reach that expands into consumer finance, insurance, healthcare, higher education, utilities, government and mortgage.
The year is 2039. The youngest of the bridge millennials – those 30- to 40-year-olds who today represent the first generation of connected consumers with spending power – will be having their mid-life crises at the age of 50. And the 60-year-olds will be telling the world that 60 is the new 30. By then, it might be. The year that even a decade ago seemed a lifetime away is only 20 years from now – and will be here before we know it.
As the payments landscape evolves and becomes ever more digital in scope, and as FinTech firms make inroads into traditional financial services, regulators are looking at FinTech credit — and how it might be defined and shaped. There seem to be no easy answers on just how to regulate the space. The Financial Stability Board (FSB) has released a report, stating that “descriptions of FinTech credit business models vary significantly across jurisdictions.
Subscription commerce has come a long way since book-of-the-month clubs and those record and cassette retailers that tempted teenagers with seeming impossible introductory deals. Yet subscription eCommerce is still a youthful industry, one that, in the words of Emma Clark, chief of staff at Recurly , “is maturing,” with the lessons learned along the way set to influence the next generation of those increasingly popular retail offerings.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
This isn’t some cheap dose of “ Little House on the Prairie ” nostalgia, but rather a shot of truth: We are a long way from small-town doctors treating patients for decades and lifetimes — after treating their parents, and perhaps even grandparents as well. Not only that, but healthcare is infinitely more complicated than it was in the 19th-century Doc Baker days — thanks to scientific advances and the collection, analysis and use of sophisticated patient data.
One of the main differences between a successful criminal and a wanna-be is that the smart one knows how to hide (often in plain sight), and use methods that often seem more mundane than dramatic — despite what Hollywood has trained us to believe over the last century or so. A demonstration of that truth came around again recently with the observance of the Chinese New Year in early February.
Token.io , the Turkey-based open banking platform company, announced Wednesday (February 13) Mastercard has chosen it to provide the connectivity layer for the payment company’s open banking hub. In a press release, Token said the hub connects merchants and retailers to financial firms in Europe so that they can access data and conduct payment transactions.
Artificial intelligence has started — slowly — to make its presence felt in payments and commerce, including in fraud prevention, via early deployments of the technology and cutting-edge AI algorithms. And with those deployments comes increasing awareness of what AI can really do, how it can improve upon less sophisticated machine learning technology, and why it promises to play a vital role in the daily lives of consumers in the coming decades.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
A healthcare firm and a biometric company have teamed up to test iris-recognition software for applications involving patient identification in the healthcare field, according to a release. IrisGuard, an iris-recognition solutions company, and Patientory, a cybersecurity healthcare data solution firm, are collaborating to combine iris biometric technology with the healthcare focused PTOYNet blockchain network, to add another layer of security and authorization on the blockchain, and help with pa
With the potential for rapid growth and job creation, FinTech firms in Africa have caught the attention of global investors. According to the London Stock Exchange Group’s 2019 “Companies to Inspire Africa” report, which highlights these firms, the FinTech sector has the second highest growth rate representation of technology and telecoms as well as financial services.
To streamline FinTech, and to help consumers and businesses transact in the ways they desire, firms must move beyond the silo approach. FinTech still exists as a fragmented market, where businesses striving to offer payment services to end users pick and choose among providers, integrate with those providers, and must often navigate across complex technological and regulatory hurdles as they expand into new markets.
Small business (SMB) adoption of technology can be a process filled with growing pains and friction points, thanks to the cost and disruption associated with integrating a new technology. Those challenges have made SMBs notoriously technology-adverse, though it may be an unfair characterization, particularly considering the influx of small business FinTech innovation in recent years.
In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.
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