PYMNTS

DECEMBER 12, 2018

In a renewed show of support for blockchain technology , American Express General Manager of Corporate Payments Carlos Carriedo has suggested that its pilot tests with partner Ripple to enable real-time cross-border corporate payments have been a success. Reports in Invest In Blockchain on Tuesday (Dec. 11) said Carriedo spoke at the Wings of Change Europe conference and emphasized American Express’ interest in blockchain technology. “Blockchain is absolutely an option we’re

B2B 97

B2B Technology 97

Katz,Sapper&Miller

DECEMBER 12, 2018

Dec. 15, 2018 is right around the corner, and any System and Organization Controls 2 (SOC 2) reports covering periods ending after that date are required by the American Institute of CPAs (AICPA) to incorporate a new SOC 2 framework. So, how will this impact the SOC 2 reports that service providers will deliver moving forward?

cpas 40

cpas 40

PYMNTS

DECEMBER 12, 2018

Financial institutions are in the midst of becoming more mobile, with many of those legacy operations opting to — or at least considering — working more closely with FinTech providers to upgrade services, retain customers and acquire new ones. The debut of 5G promises to add another tool that can aid such efforts. As that mobile technology get closer to mainstream introduction, the potential 5G ecosystem for FinTech and mobile banking is gaining clarity.

Technology 84

Technology Maine 84

PYMNTS

DECEMBER 14, 2018

Instacart will have to conquer the grocery-delivery business without the help of Amazon. That’s one take on the news Thursday (Dec. 13) that Instacart has begun the process of winding down deliveries to customers of Amazon-owned Whole Foods. That wasn’t perhaps the most surprising news, given how Amazon keeps taking control of more logistical and delivery operations — an effort that many observers expect will eventually include the eCommerce operator competing head-to-head with UPS and FedEx.

Gaming 78

Gaming Sales Retail Technology 78

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.

Finance

PYMNTS

DECEMBER 12, 2018

SWIFT announced Wednesday (Dec. 12) that the company’s Chief Executive Officer Gottfried Leibbrandt has informed the board that he plans to leave the company at the end of June. In a press release, SWIFT noted that Leibbrandt has been in his job for seven years and played an important role in ensuring SWIFT remained on sound financial footing, improved upon SWIFT’s risk and security functions and oversaw the overhaul of technology at the company.

Start-ups 77

Start-ups Technology 77

PYMNTS

DECEMBER 9, 2018

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance. That’s according to TokenEx , which recently hosted a webinar to help retailers better understand tokenization. In a press release, TokenEx pointed to a new analysis by SecurityScorecard that shows the alarming rate at which retailers aren’t prepared.

Retail 77

Retail 77

PYMNTS

DECEMBER 10, 2018

State Farm announced that it is testing out blockchain technology to streamline the subrogation process for auto claims. Subrogation is the last part of the claims process, where an insurance company recovers costs it paid to its customer for damages from the at-fault party. State Farm explained it is working with a partner in the insurance industry to test the blockchain solution against existing processes.

Technology 77

Technology 77

PYMNTS

DECEMBER 14, 2018

To help low-income consumers get back on their feet, New York-based Propel has notched $12.8 million in Series A funding. Nyca Partners led the round, along with the participation of Kleiner Perkins, Andreessen Horowitz and Omidyar Network, as well as support from Thirty Five Ventures and Alexa von Tobel, the company said in an announcement. “Our investors are world-class experts in their respective fields,” Propel CEO Jimmy Chen said in the announcement. “They share an understanding

Virginia 76

Virginia New York Government Finance 76

PYMNTS

DECEMBER 11, 2018

Coinone, a South Korean-based platform for cryptocurrency exchange, has released a blockchain-powered remittance app called Cross, according to a report. Cross uses Ripple ’s blockchain network, RippleNet, and doesn’t rely on traditional banking mechanisms. It offers payment services for people who want to send money to Thailand and the Philippines.

Technology 76

Technology Start-ups Government accountant 76

PYMNTS

DECEMBER 13, 2018

UAE Exchange, the United Arab Emirates-based company, and Ripple, the blockchain technology company based in the U.S., are gearing up to launch cross-border remittances to Asia using blockchain technology. According to a report in Reuters , citing UAE Exchange’s group CEO Promoth Manghat, who is also executive director and chief executive at Finablr, with Asia among the biggest recipients of remittances sent around the world in 2017 and with a lot of it coming from workers in the Middle Ea

Start-ups 75

Start-ups Finance Technology 75

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Technology

PYMNTS

DECEMBER 11, 2018

Walmart and Rakuten announced Tuesday (December 11) the opening of the first Walmart eCommerce store in Japan, dubbed Walmart Rakuten Ichiba Store. According to a press release , the store resides on the Rakuten Ichiba internet shopping mall, offering Japanese consumers access to a wide variety of U.S. products such as apparel, toys, and outdoor items.

Retail 74

Retail 74

PYMNTS

DECEMBER 10, 2018

The year is 2007. Headlines are filled with news of a “revolutionary” product that will change the fortunes of merchants and unlock countless benefits for consumers when using it. Analysts at the time called this product “an historic opportunity” to bolster the merchant’s “corroding bottom lines,” and innovators rushed to build new applications to help them seize it.

Sales 73

Sales New Jersey Retail accounted 73

PYMNTS

DECEMBER 10, 2018

Chinese bike-sharing company Mobike is being investigated by German regulators for potentially being in breach of the EU’s General Data Protection Regulation (GDPR). In a statement to the Financial Times , a spokesman said, “The Berlin commissioner for data protection and freedom of information had already planned to launch an investigation into car- and bike-sharing companies?

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73

PYMNTS

DECEMBER 12, 2018

While progress is always ongoing in payments and commerce, its path isn’t always straightforward or even. In China, mobile payments adoption has been racing forward, and stateside its progress is notably slower. Brexit negotiations go forward, backward and sideways, such that the eventual endpoint remains hard to forecast. And yet, as technology improves and data is more easily collected and interpreted , progress marches on in payments and commerce as new channels for funds to flow worldwide k

Technology 73

Technology Retail 73

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.

payroll

PYMNTS

DECEMBER 14, 2018

Bitcoin fell to its lowest price in 15 months on Friday (Dec. 14), and analysts are predicting that further declines could be in store for the popular cryptocurrency. The price of bitcoin broke below the $3,200 mark to reach roughly $3,160 in the afternoon, MarketWatch reported. Daily FX Analyst Nick Cawley wrote in a note, which was reported prior to the latest drop, that the cryptocurrency could reach even lower lows heading into the future.

Retail 72

Retail 72

PYMNTS

DECEMBER 9, 2018

ATM machine companies in India are warning that they will have to shutter as many as half of India’s cash machines because of new regulations, reported the Financial Times. According to a report in the Financial Times, citing the Confederation of ATM Industry (CATMi), the group said it will have to close down less profitable cash machines, many of which are located in remote rural areas and small towns.

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72

PYMNTS

DECEMBER 14, 2018

Banks and businesses handling personal information face a delicate balancing act as global systems embrace smarter payments. They must deliver services that customers and clients demand while securing their personal data. Data is crucial and — fortunately, for banks and businesses in the smarter payments space — plentiful. By some accounts , more than 90 percent of existing data was created after 2014.

accounting and finance 72

accounting and finance Technology Finance Retail 72

PYMNTS

DECEMBER 10, 2018

2108 has been the year of many things in payments and commerce. For Visa Global Head of Payments Products and Platforms TS Anil, it’s been a year in which many big steps have been taken on the journey toward giving merchants something that has made checking out in the store a safe, standard and interoperable checkout experience. A single digital terminal that can be used to create a secure, interoperable experience when consumers check out online — that experience comes by way of Secure Remote C

Start-ups 72

Start-ups Technology 72

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.

Finance

PYMNTS

DECEMBER 13, 2018

Bank technology firm Temenos has struck a deal to acquire banking services and on-boarding firm Avoka in one of the largest exits for an Australian FinTech, reports in the Australian Financial Review said Wednesday (Dec. 12). Switzerland-based Temenos will acquire Australia-based Avoka for $245 million, reports said, following Temenos’ acquisition for Australia’s Rubik Financial last year.

Technology 72

Technology B2B 72

PYMNTS

DECEMBER 11, 2018

The freelance and gig work economy continues to grow, creating wide-open opportunities for FinTechs and service providers addressing a range of new pain points for both the talent and the employer. Today, nearly half of gig workers surveyed for the most recent PYMNTS.com Gig Economy Index say they use a digital marketplace to find work, handle payments and manage other key components of freelancing, like taxes.

payroll 71

payroll Technology B2B Maine 71

PYMNTS

DECEMBER 12, 2018

The number of merchants accepting card payments around the world grew by 13 percent in 2017, to 69.2 million, according to a report. RBR, a research and consulting firm for banking and retail, released a forecast of payment card data through 2023, and found that card payment acceptance is growing at a fast rate. The two regions with the most growth were also the two least developed: Asia-Pacific and Central and Eastern Europe.

Government 71

Government Sales Retail 71

PYMNTS

DECEMBER 10, 2018

Social media giant Facebook is looking to grow its blockchain team, according to a report. The company posted on its careers page that it’s looking for data engineers and scientists, software engineers and a product marketing lead for its blockchain team. The company said its ultimate goal is to “help billions of people with access to things they don’t have now – that could be things like equitable financial services, it could be new ways to save, it could be new ways to share information.

Technology 70

Technology 70

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.

CPA

PYMNTS

DECEMBER 11, 2018

As a growing group of consumers around the globe adopt digital payment platforms and tools, some well-known players, including Google and Amazon, are now working to improve and expand access to the solutions that will make those transactions as frictionless as possible. In the latest Payments Powering Platforms Tracker , PYMNTS examines how digital payment platforms are being used to transform brick-and-mortar and remote transactions alike.

Retail 70

Retail E-commerce Maine 70

PYMNTS

DECEMBER 14, 2018

TransferGo , an up-and-coming international money transfer company, has raised more than $17.6 million in a Series B funding round, according to a report. The London-based company, which was founded in 2012, is available in 47 countries and has offices in Warsaw, London, Berlin, Istanbul and Vilnius. With a customer base of upwards of 800,000 people – and almost 1,00 new ones per day – it’s one of the fastest money transfer services available.

Start-ups 70

Start-ups Finance Technology 70

PYMNTS

DECEMBER 12, 2018

An analysis of bitcoin addresses shows that the majority of bitcoin (BTC) owners own only one-tenth of the digital currency, according to a report. Digital asset research company Delphi ran the numbers and found out that 22.9 million bitcoin addresses have at least some amount of bitcoin. However, of those, almost half have 0.001 BTC ($3.40) and about 90 percent have less than one-tenth of BTC ($340).

Retail 70

Retail Account accounted accountant 70

PYMNTS

DECEMBER 11, 2018

BitPay has announced that OneGold, a marketplace that combines the benefits of gold and silver with blockchain-based digital assets, is now accepting bitcoin and bitcoin cash. Founded by APMEX and Sprott, OneGold allows investors to buy, sell and redeem digital gold and other precious metals. “Cryptocurrency is an ideal payment method for ecommerce and precious metals where the risk of chargebacks, fraud and identity theft with traditional credit cards is high,” Sonny Singh, chief commercial off

Agriculture 69

Agriculture Technology 69

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

Spend Management

PYMNTS

DECEMBER 10, 2018

Much regulatory focus this past week came with headlines on anti-money-laundering efforts, aided by tech. As reported , a number of regulatory agencies — among them the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network, the National Credit Union Administration and the Office of the Comptroller of the Currency (OCC), in tandem with the Financial Crimes Enforcement Network — issued a joint statement.

Real Estate 69

Real Estate Finance Government 69

PYMNTS

DECEMBER 10, 2018

Instacart shoppers are unhappy with the company’s new payment structure, which has resulted in a decrease in wages. As a result, the workers are boycotting lower-paying orders, as well as trying to organize the company’s network of independent contractors. “We’re being mistreated,” Alid Alvarado, a single mom who lives in south suburban Oak Lawn, told the Chicago Tribune.

accountant 69

accountant accounted Account 69

PYMNTS

DECEMBER 10, 2018

The procure-to-pay process can be like a game of dominoes stacked up and ready to fall into place. The first domino in the set is the purchase order, and unless that PO is correct, everything else, including invoice and payment, can quickly fall into disarray. Often, this issue is no more than a nuisance: if an organization procures a dozen desk chairs for the office, for example, an incorrect PO may lead to too few chairs being delivered, or payment being delayed, but the company can continue r

Manufacturing 69

Manufacturing Accounts Payable Automation accounts payable B2B 69

PYMNTS

DECEMBER 10, 2018

How does one build a brand that isn’t really a brand? It is a question that a new startup called Italic is tackling, as it looks to build a new type of marketplace where consumers can buy luxury-level goods at a fraction of the price they might pay for the luxury label sewn inside. The trick – and Italic’s secret sauce – is enabling the handful of specialized manufacturers sprinkled throughout Asia and Europe that produce luxury accessories, eyewear and handbags to sell directly to the consumers

Manufacturing 68

Manufacturing Construction Legal Sales 68

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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.