PYMNTS
JULY 10, 2018
Entrepreneurs are, as a rule, pretty excited about their ideas. They almost have to be, since the journey from idea to instantiation is arduous under the best circumstances. Only a true believer is likely to ever make it across the finish line, as the less convicted and committed are more than likely going to be worn down and out by the process itself.
PYMNTS
JULY 9, 2018
After Macy’s cyber tools detected suspicious logins on June 11, the retailer is warning customers about a data breach. The retailer said that a threat targeted the profiles of customers for nearly two months, Detroit Free Press reported. In a letter to its eCommerce customers, Macy’s said that a third party was behind the suspicious activity, and that party had received information from a non-Macy’s source.
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PYMNTS
JULY 9, 2018
Retailers face a challenge when it comes to offering warranties for their customers: A warranty program can take months to set up and launch. But offerings such as Mulberry Platform seek to dramatically speed up that timeline to under a day. “We want the retailers to be able to a launch a best-in-class warranty option in less than an hour,” Mulberry Platform Co-founder Chinedu Eleanya said in an interview with PYMNTS.com.
PYMNTS
JULY 13, 2018
As Facebook continues its forays into commerce, the company has filed a patent for a messaging bot that enables users to pay for items. The patent , which is called “Processing Payment Transactions Using Artificial Intelligence Messaging Services,” details a bot that can understand and reply to the requests of users, CB Insights reported. An illustration for the patent details a chat between a consumer and a coffee shop bot.
Speaker: Danny Gassaway and Wayne Richards
Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.
PYMNTS
JULY 10, 2018
With consumers demanding more choices, experts say that the unbundling of media – such as music, newspapers and television programming – is the future. At the same time, services like Zelle use a consumer’s mobile phone number to route funds , and platforms like Ingo Money allow companies to send funds to consumer accounts in real time. And, in retail, J.Crew ‘s smaller sister brand, Madewell , is growing because of its ability to think small to generate very large effects.
PYMNTS
JULY 10, 2018
Mastercard and EU FinTech Strands are collaborating on a cash management and corporate payments platform for banks, designed to address small business (SMB) needs. A press release on Monday (July 9) said the companies are deploying artificial intelligence (AI) technology, Strands Business Financial Management ( BFM ), to develop the solution, enabling small businesses to forecast cash flow, analyze finances and gain personalized recommendations on services from their banks.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 10, 2018
Car dealers and auto groups want to put their vehicles on the information superhighway – and for good reason: According to a report from Bain & Company , nearly half of car buyers begin their process online. And consumers may prefer car dealerships that offer eCommerce options: Seven out of 10 consumers are more likely to choose a dealership that offers online car buying, according to car buying platform Roadster.
PYMNTS
JULY 9, 2018
In the land of startups, and valuations of startups, it’s all about the Benjamins. And the bots. And the Benjamins that can be made from bots…. The much-storied tales about tech unicorns, those young firms that have logged valuations of at least $1 billion, got a new chapter on Monday, after California firm Automation Anywhere stated that it had raised $250 million in a fundraising round from the likes of Goldman Sachs and others.
PYMNTS
JULY 11, 2018
The Internet of Things (IoT) cybersecurity solutions market is poised to hit $6 billion globally by 2023, according to a new study from Juniper Research. In a press release highlighting the new research, Juniper Research said that spending by product and service providers and end customers will rise close to 300 percent from now until 2023. “The interconnected nature of the IoT means that even innocuous devices like the connected fridge can become a threat.
PYMNTS
JULY 10, 2018
Following a positive reception from customers , Nordstrom Local announced two more Los Angeles locations for its hyperlocal retail concept. One store will be 1,200 square feet and located in Brentwood, while another will be a 2,200-square-foot store in the city’s downtown area. The concept may also expand to New York City, Fast Company reported. “We’ve got a young customer base that’s very engaged with our brand,” Ken Worzel, Nordstrom’s chief digital officer and Nordstrom.com president, told F
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
PYMNTS
JULY 9, 2018
Verifone , the payments company, announced on Monday (July 9) that its Chief Executive Officer Paul Galant has decided to relinquish his role effective as of the close of the previously announced deal with Francisco Partners. In a press release , Verifone said the transaction is expected to close during the third quarter. At that point, Michael Pulli, formerly CEO of Pace Plc until its acquisition by ARRIS Group, will become CEO.
PYMNTS
JULY 9, 2018
Google Pay is getting an overhaul with a new user design being launched on Monday (July 9), reported BGR. According to BGR, Google Pay is the new name for Android Pay, Google’s digital payment service. With the new interface, users of Google will be able to check out a Hub page to see the latest announcements and trending games on its Play Games app.
PYMNTS
JULY 10, 2018
Google Pay is rolling out new features that, among other things, let users send and request money, through the merging of the Google Pay and Google Pay Send apps. In a blog post on Tuesday (July 10), Product Management Director Gerardo Capiel said that a slew of updates, which have just started rolling out, allow users in the United States to send and request money using the Google Pay app, a feature that will soon debut in the United Kingdom.
PYMNTS
JULY 13, 2018
Women’s relationship with money in the United States has been something of an evolving area in the 242 years since Thomas Jefferson declared America’s independence with the phrase “all men are created equal.”. In those days, women could not control bank accounts, own land, write wills or checks, or inherit property of their own except by special dispensation from a magistrate.
Speaker: Jennifer Hill
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
PYMNTS
JULY 11, 2018
Oprah Winfrey is becoming a restaurateur. As of today, the international media titan has announced an investment in True Food Kitchen , a healthy eating startup based out of Houston. True Food Kitchen’s bread and butter, so to speak, is sustainable, local and organic dining. It was named the 2018 emerging restaurant by data firm Fishbowl. The size of Oprah’s equity investment is unknown, but apart from money, she is offering her literal presence – she will be joining the brand’
PYMNTS
JULY 10, 2018
Order has returned to the universe, balance has returned to the force and the world makes sense again. The International House of Pancakes is back, as the experiment of International House of Burgers has come to an end. The restaurant, famous for its breakfasts, flirted with becoming IHOB as an attempt to promote its burger offerings. But thankfully for eaters of the most important meal of the day, the experiment/publicity stunt has drawn to a close.
PYMNTS
JULY 7, 2018
PYMNTS may not have the greatest sports experts in the world, but even we understood the big deal concerning the addition of Lebron James to the L.A. Lakers lineup, and the context of NBA basketball for next season. But why let one big add overshadow the many significant pickups in our favorite sport — as well as payments and commerce? Last week almost dazzled with big adds.
PYMNTS
JULY 13, 2018
Exploding interest in smart cars and autonomous vehicles isn’t just changing the way the average consumer drives. The fleet management market is slated to see a $28.66 billion market valuation by 2022, driven by the need for greater efficiency, and connected vehicles have become a gateway to sophisticated management and analysis of fleet operations for managers seeking greater control and reduced costs.
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
PYMNTS
JULY 9, 2018
The problem with fighting fraud — according to GIACT EVP of Product David Barnhardt in this week’s edition of the PYMNTS Topic TBD — is how much information fraudsters have at their fingertips about regular consumers. Between the Equifax hack last year, the Exactis hack last month and the thousands of other data breaches, big and small, that happened between them (not to mention before them), the average American consumer can rest assured that some or all of their personal data is floating aro
PYMNTS
JULY 9, 2018
Consumers can be an impatient bunch, and that becomes pretty clear when the conversation turns to insurance checks and other corporate disbursements. But what would happen if faster disbursements were combined with a (peer-to-peer) P2P service that is striving for more bank partners and customers? That was the subject of a recent PYMNTS interview with Drew Edwards, CEO of instant money network Ingo Money , and Lou Anne Alexander, group payments president of the bank-owned Early Warning , which
PYMNTS
JULY 13, 2018
The pace of payments is getting faster — because the demand and expectations are on the rise. Gig workers and those living paycheck to paycheck need access to their funds, SMBs can’t grow without them and, all around the world, governments are hearing the call and pushing to ramp up the pace. With billions of connected devices flooding the market, the pace of change is only getting faster.
PYMNTS
JULY 10, 2018
On Tuesday (July 10), L Catterton Asia, the Asian unit of consumer-focused private equity firm L Catterton , and Chinese retailer JD.com announced a strategic partnership with Secoo Holding Limited, one of Asia’s online integrated upscale products and services platforms. Through the partnership, L Catterton Asia and JD will invest $175 million in Secoo, the companies said in a press release.
Speaker: Debra L. Robinson
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
PYMNTS
JULY 10, 2018
Now that Whole Foods is part of the Amazon family , it probably comes as no surprise that it is joining the Prime Day party. In addition to the tiers of savings Whole Foods has been rolling out to Prime members over the last several months, a new addition is coming to the Prime goodie bag. This year, in celebration of the shopping holiday that Amazon invented, Prime members will get a $10 Amazon gift card for shopping at Whole Foods during the 36-hour shopping extravaganza.
PYMNTS
JULY 10, 2018
The U.S. Securities and Exchange Commission (SEC) announced on Tuesday (July 10) that it has charged the former chief executive of Heartland Payment Systems with insider trading. According to the SEC , Robert O. Carr, the former CEO of the payment processing company, and his longtime girlfriend, Katherine M. Hanratty, engaged in insider trading. Specifically, Carr provided Hanratty with confidential information about a potential acquisition of Heartland Payment Systems by another payment process
PYMNTS
JULY 9, 2018
Think of it, perhaps, as the race to become the best backseat driver. As car manufacturers, software providers, payments and commerce players and others build the connected vehicle ecosystem, there is increasing experimentation and competition in regards to the best operating systems to install. Recent evidence of that came from Volvo when it announced that it would embed Google Assistant, Google Play Store, Google Maps and other Google services into its next-generation Sensus infotainment syste
PYMNTS
JULY 10, 2018
To drive investment in R&D, recruiting and expansion, Toast announced on Tuesday (July 10) that it has raised $115 million in Series D funding. The funding round, which was led by funds and accounts advised by T. Rowe Price Associates, Inc., values the restaurant management platform company at $1.4 billion, the company said in an announcement. “The way restaurants serve their customers is going through a fundamental change, and the technology that enables restaurant operations must respond t
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
PYMNTS
JULY 9, 2018
Everyone remembers the adage: The more things change, the more they remain the same. Though much has changed in the digital age, much does remain the same. We still watch TV , albeit different from the way we once did. We want good customer service, though — worldwide — we don’t necessarily need it from a person. Buying toys, particularly around the holiday season, continues to be the plan for 2018 , despite the end of Toys R Us.
PYMNTS
JULY 13, 2018
The popularity of mobile commerce in Africa is a well-known — and ongoing — story. Now, global health experts are paying more attention to the prospect of using mobile payments , perhaps bundled with insurance services, to make it easier for people to get well. Africa has relatively low rates of health insurance , and the amount spent on healthcare in the continent is also low.
PYMNTS
JULY 13, 2018
Call center service providers are increasingly automating their processes to speed up their payments acceptance, while reducing associated costs. Debt collection agencies, for one, increased their use of interactive voice response (IVR) by 8 percent over the last year. However, as call centers are upping their use of automation technology, fraudsters are finding new ways to penetrate it.
PYMNTS
JULY 12, 2018
Trades between bitcoin and China’s renminbi (RMB) were once very popular, but that’s reportedly no longer the case. News came this week that the volume of currency trades between the RMB and bitcoin have plummeted in recent months. While that pairing comprised more than 90 percent of global bitcoin trades in December, trades involving the Chinese currency now only make up a mere 1 percent of all bitcoin trades.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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