Sat.May 04, 2019 - Fri.May 10, 2019

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Amazon Hit With Cyberattack; Money Stolen From Sellers

PYMNTS

Amazon was the target of an “extensive” cyberattack in which hackers stole money from merchant accounts and funneled them into their own, according to a report by Bloomberg. The attacks occurred between May and October of 2018. Amazon said the hackers compromised about 100 seller accounts, taking cash from either loans or sales and putting it into their own accounts.

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State & Local Tax Update: Indiana Increases Business Personal Property Tax Exemption

Katz,Sapper&Miller

As is the case after every legislative session, taxpayers will see gains and losses. When it comes to business personal property tax in Indiana, taxpayers will certainly gain.

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Will Marketplaces Take Over eCommerce Completely?

PYMNTS

The world is becoming one big marketplace — even if the marketplace doesn’t always look like one. That’s not some ancient riddle updated for these roaring days of digital commerce and payments, but informed knowledge passed along by Adrien Nussenbaum, CEO and co-founder of Mirakl , during the latest edition of the PYMNTS Matchmakers interview series.

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Will The Stars Align For Facebook’s Project Libra?

PYMNTS

The news last Friday that Facebook has plans to launch its own global crypto-based payments rails is déjà vu all over again. Déjà vu because it was 10 years ago, in May of 2009, that Facebook launched the alpha version of Facebook Credits. Credits was a virtual currency and payments platform used to power in-app purchases on Facebook. It shut down in 2012, 15 months after its official launch.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Is Real-Time Payments A Threat To Credit Cards?

PYMNTS

Faster, faster, faster — that’s the motto driving so much of payments innovation today. Real-time payments offers promise for both small and medium-sized businesses (SMBs) and consumers. That holds especially true for the Asia-Pacific region, as InstaReM CEO and Co-Founder Prajit Nanu discussed with Karen Webster in a new PYMNTS podcast interview.

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FinTech Firms Tackle PCI Burdens With Hosted Checkout

PYMNTS

PCI compliance is top of mind for many organizations, with a burden and commitment from the chief financial officer (CFO) suite that is not nominal — and quite capital intensive. FinTech firms, however, are looking to lessen that work through their offerings: Modo , in one case, has a Modal component to its /Checkout product. “We allow a merchant to come in and offload their PCI requirements” by hosting the capture of sensitive data, Modo Chief Product Officer Ryan Lee told PYMNTS in an intervie

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More Trending

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How 45 Pct Of Old-School SMBs Plan To Innovate

PYMNTS

In today’s digital economy, with shopping as easy as the tap of a finger on a smartphone screen, brick-and-mortar retail businesses have no choice but to innovate to keep and grow their clientele. A large percentage of all retail businesses recognize this reality, but, in some quarters of the economy, the implementation of innovative technologies has been slow-going.

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WhatsApp Pay India Debut Targets Paytm Users

PYMNTS

With the digital payments market heating up in India as major players enter it, Facebook-owned WhatsApp Pay is expected to be a game-changer. According to a report in the Economic Times of India , since Facebook Chief Executive Mark Zuckerberg revealed in April that WhatsApp Pay is coming to India, the marketplace has been bracing for the latest entrance.

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Google To Launch Electronic IDs For Android Devices

PYMNTS

Google has announced that it is working on bringing electronic IDs to Android devices, according to reports. The company released the news on Thursday (May 9) on the last day of its developers’ conference. The digital ID card would replace an actual ID card but would work the same way, as Google wants it to be used in all “physical world transactions.

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Alipay, Adyen And Klarna Team Up For ‘Pay Later’ Option On AliExpress

PYMNTS

Three popular payment companies, Alipay, Adyen and Klarna, have teamed up to allow AliExpress shoppers to use Klarna’s “Pay Later” option for online shopping, according to a release. . The pay later option is enabled through Adyen, the payments provider behind AliExpress. With the new option, shoppers in the Netherlands, Austria, Finland and Germany can choose when and how they wish to pay.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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How APIs Safeguard Bank-FinTech Collaboration

PYMNTS

Open banking regulations like PSD2 are forcing many FIs to open up their data to third-party providers (TPPs), causing a wave of changes as its September launch date approaches. Changes are coming from elsewhere, too, with Australia mandating open banking by July and Israel working on an open banking API standard of its own. Nations where FIs are not required to provide data access to TPPs, however, may be wise to jump on the bandwagon.

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Walmart Pivots On Brazil eCommerce Strategy, Focuses On Physical Stores

PYMNTS

Walmart Brasil has announced it will shutter its eCommerce division in Brazil and focus on physical stores, according to a report by Reuters. The company said it plans to turn underperforming hypermarkets into brick-and-mortar wholesale stores. Wholesale has become more and more popular in Brazil as the country pulls out of a difficult recession. “The company is working in a new omnichannel strategy which will be later announced,” Walmart Brasil said in a statement on Friday (May 10).

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New NACHA Rule Could Catch Payment Processors, Merchants, FIs Off-Guard

PYMNTS

Among the highest ideals for digital payments – driving innovation in transactions and customer experience – is, of course, the concept of seamlessness. That implies an ease of use while giving up nothing when it comes to security. Getting there is a long road with many twists and turns, with guidance provided not only by back-end technology but also by updated rules from organizations with a governing role across the payments industry.

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Why Accounts Payable Is The ‘Lost Child’ Of Finance

PYMNTS

All too often, firms eye their top lines and growth to the exclusion of most everything else — a mono-mindedness that can have negative repercussions. Operational pain points are often not addressed until they have to be addressed, then, because of that neglect, they suddenly require all sorts of investments in terms of time and money. So it is with accounts payable (AP), as Chen Amit, CEO of Tipalti , told PYMNTS in a recent interview.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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UK Gov’t Now Accepts Apple Pay For Some Services

PYMNTS

The U.K. government has now started accepting Apple Pay for certain online payment services. 9to5Mac reported that the government’s website is now accepting Apple Pay for four of its online services, including the Global Entry Services, the disclosure and barring service checks, the Registered Traveler Service, and the Electronic Visa Waiver Service.

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Hong Kong Issues More Online Banking Licenses

PYMNTS

The banking regulator in Hong Kong has issued an additional four online-only banking licenses to Ping An, Alibaba, mobile phone maker Xiaomi and a joint venture (JV) consisting of Tencent, ICBC and Hillhouse Capital. Reuters is reporting that this totals eight total licenses handed out by the government. The Hong Kong Monetary Authority, which handed out the licenses, expects the banks to launch in about six to nine months.

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Why Citi Is Using Biometrics To Build Its ‘Security Perimeter’

PYMNTS

From company board rooms to airport boarding gates, the need for seamless authentication is putting biometrics front and center in varying use cases. With that shift, older authentication tools, such as physical tokens, are seeing a decline in use. The new Digital Identity Tracker highlights how biometrics is being embraced across a wide range of markets, including travel, financial services and enterprises.

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Iris-Reading USB Device Marketed As Unhackable Is Hacked

PYMNTS

The eyeDisk, a USB flash drive that claims to be unhackable, has been hacked by a U.K.-based cybersecurity firm called Pen Test Partners, according to a report by TechCrunch. The device raised upwards of $21,000 in a Kickstarter campaign, and the company behind it began sending out the devices in March. “With eyeDisk you never need to worry about losing your USB or the vulnerability of your data stored in it. eyeDisk features AES 256-bit encryption for your iris pattern,” the Kickstarter page

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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Bump On The Road To National FinTech Charters?

PYMNTS

The suit can proceed. The news came Thursday (May 2) that, per a ruling in federal court in New York, the State Department of Financial Services can move forward with a suit that looks to derail national bank charters for FinTech companies. Judge Victor Marrero, presiding over the U.S. District Court for the Southern District of New York, said the case can proceed, a ruling that denied a dismissal of the suit requested by the Office of the Comptroller of the Currency ( OCC ).

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Making The Case For Cash In Unattended Retail

PYMNTS

Vending machine operators have become increasingly attentive to the demand for swift digital payment options, and have benefitted from significant sales growth after enabling cashless payments. However, for the 8.4 million unbanked U.S. households, retailers that enable digital payments while dropping cash are less than convenient. Unattended retail operators are taking a fresh look at keeping cash acceptance on the menu to appease lawmakers who recently issued legislation intended to ensure the

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What Happens to Tipping When Cash Disappears?

PYMNTS

A trip to a restroom, even in a restaurant in which customers tend to wear slacks instead of shorts, is a relatively simple and even boring affair (stick with us here; we have a point). With the spread of digital payments, one of the luxuries of those restroom visits is in danger of disappearing – another mark of how the ongoing decline of cash is changing a host of once common activities.

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Uber’s Bust(ed IPO) Of A First Day

PYMNTS

Call it a less than auspicious beginning. When the rubber met the road, when the trading actually became reality, Uber sputtered. To say the least. The fact is, a busted IPO is a busted IPO, and while one day of trading does not a trend make, it cannot be argued that Uber’s initial public offering was a triumph. The stock closed down 7.6 percent on the day — and curiously, the general markets, at least as measured by the Standard and Poor’s 500 Stock Index, were up (by roughly 35 basis poi

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Harness the Potential of Your Enterprise Knowledge

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

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Wells Ups Estimates Of Legal Losses To $3.1B

PYMNTS

Wells Fargo , the embattled national bank, is reportedly upping the money it may lose from legal actions, reported The Wall Street Journal. The report, citing the bank’s quarterly securities filing, said the bank expects the potential losses from legal actions stemming in part from its fake account scandal to be $3.1 billion as of the end of March. That is up from $2.7 billion through the end of 2018 and $2.2 billion through the end of September.

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As Uber IPO Approaches, Challenges And Anxieties Abound

PYMNTS

Here it comes, the big initial public offering (IPO) from Uber , a highly anticipated event set for Thursday (May 9). But there’s a lot to get through before it happens, including a possible strike, along with a reasonable level of concern about how investors will react, given the recent IPO history and experience with Uber’s smaller rival, Lyft. As PYMNTS readers know, the journey to the Uber IPO – set to be the biggest in payments history – also represents a significant, even historic, journey

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How Unattended Retail Is Shaping Retail’s Future

PYMNTS

The world of unattended retail has come a very long way in a very short time. Less than a decade ago, the unattended retail space was more or less defined by vending machines. It was the source of last-resort sustenance – participating in unattended retail usually meant picking up a Coke or a bag of Cheetos on the run. And the reason for that, WorldNet Payments Co-Founder and Chief Innovation Officer John Clarke told Karen Webster in a recent PYMNTS interview, is pretty straightforward.

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EU Antitrust Regulators Fine Banks For Manipulating FX Market

PYMNTS

European Union antitrust regulators are going to fine seven banks for manipulating the foreign exchange market, according to reports. The banks involved are Barclays, Citigroup, HSBC, JPMorgan, Royal Bank of Scotland, UBS and a smaller Japanese bank. However, the EU has said the fines will be cut by 10 percent if the banks admit to wrongdoing. The antitrust enforcer has been working on the case for the last six years, and it could potentially hand out fines of up to 10 percent of an institution&

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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Uber’s IPO: Pricey And Dicey Or Poised For Liftoff?

PYMNTS

High end? Low end? Smack in the middle? As it turns out, after much anticipation, it’s the low end. Uber ’s pricing came on Thursday (May 9) night and comes before the open, which may say a lot about not only Uber’s uber initial public offering ( IPO ), but how investors may be viewing tech in general. Friday (May 10) is the debut, of course, with Thursday’s New York Stock Exchange offering bringing a bit of anticipation into the day.

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FTC Calls For Tighter Small Biz Lending Scrutiny

PYMNTS

The U.S. Federal Trade Commission (FTC) is eyeing tighter scrutiny of small business lending practices as Commissioner Rohit Chopra calls on the regulator to combat predatory SMB loan contracts, reports in Bloomberg said on Wednesday (May 8). Chopra spoke at an agency forum in Washington, D.C., calling out the small business lending industry’s issue of abusive loan terms that “have led to a flood of questionable legal actions” against borrowers. “We are accountable for cl

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Real-Time Payments, Mastercard And Visa Deals Dominate This Week’s News

PYMNTS

At the end of another busy week, it can pay to look back at some of the biggest recent news in payments and commerce. And this week was a meaty one for news: Mastercard and Visa made acquisitions, the Facebook payment proposition was dissected, new findings about payments and retail innovation emerged, and the pet retail segment gained a major new source of fuel.

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People And Bank Automation — An ‘And’ Not An ‘Or’

PYMNTS

It is hard to argue, after five decades in existence, that the ATM hasn’t been an overwhelming success as financial products go — in fact, it has changed the face of how consumers interact with banks. What can be harder to see, as Michael Engel, managing director and VP of software sales banking at Diebold Nixdorf , told PYMNTS in a recent conversation, is how ATMs are continuing to act as an agent of change in the financial marketplace.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.