PYMNTS

DECEMBER 28, 2018

The Central Bank of the Russian Federation (CBR) announced that it has revoked the licenses of five Russian foreign exchange (FX) trading companies. According to a statement on the bank’s website, the decision was made due to “the repeated violations of the requirements of the Russian legislation on securities within one year.”. The five companies — Forex Club, Alpari Forex, Trust Forex, InstaForex and TeleTrade — will see their licenses expire on Jan. 27, and must stop all operat

Legal 87

Legal B2B 87

PYMNTS

DECEMBER 26, 2018

Uber, gearing up to launch an initial public offering (IPO) in the first quarter of 2019, is offering to settle with drivers who have been fighting the ride-hailing company via individual arbitration. According to a report in TechCrunch , citing law firm Lichten & Liss-Riordan, Uber has as part of the settlement tentatively offered to pay 11 cents for each mile Uber drivers drove.

Legal 83

Legal 83

PYMNTS

DECEMBER 24, 2018

The “Twelve Days of Christmas” is a holiday classic, though some of us at PYMNTS still don’t understand why anyone would want to take a partridge away from what seems like a pleasant existence in a pear tree. But in hopes of hopping on the holiday bandwagon — and providing data-backed insight in the hottest payment trends for 2019 — allow us to offer this list of a dozen ways that consumers (and some businesses) are paying now, methods that promise to play big roles in 2019.

Technology 83

Technology Start-ups Education Retail 83

PYMNTS

DECEMBER 26, 2018

Blockchain seemed to be stuck in pilot phase in 2017, but in 2018, the financial services industry finally saw a stronger flow of real-world, working blockchain applications — many of which targeted pain points in B2B payments, including the time and lack of transparency in cross-border transactions. Industry heavyweights like Mastercard and American Express have taken steps in recent months to explore the use of blockchain in commercial payments.

Technology 80

Technology B2B Approval Workflows audit 80

Speaker: Melissa Hurrington

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.

Finance

PYMNTS

DECEMBER 28, 2018

Shoppers had new opportunities to buy groceries without having to walk through the aisles of their local supermarkets or wait in line at checkout counters this year, as grocers rolled out digital innovations in shopping and payments. This year, retailers from Kroger to Whole Foods Market brought new offerings ranging from cashierless checkout to personal shopping services to their stores.

Kentucky 77

Kentucky Virginia Retail Maine 77

PYMNTS

DECEMBER 28, 2018

The online retail market hit $186.13 billion during the third quarter, with Alibaba in the dominant position. According to a report in The Drum, Alibaba’s Tmall controlled 59.5 percent of the market share in China during the third quarter. In second place was eCommerce rival JD.com, which The Drum reported ended the third quarter with an online market share of 25.8 percent.

Retail 77

Retail Sales 77

PYMNTS

DECEMBER 27, 2018

Open banking, bank APIs and data sharing flourished in 2018, with small business and corporate financial services squarely in the path of this financial services trend as banks and FinTechs consider new ways to enhance business payments, accounting, treasury and financial management. The strength of open banking is apparent in the fact that it has gained traction even in markets like the U.S., where regulatory requirements for FIs to open up data are non-existent.

cma 76

cma bookkeeping Retail Account 76

PYMNTS

DECEMBER 26, 2018

Dr. Akli Adjaoute, CEO of Brighterion , wrote this AI-focused piece as part of our 2018 year-end eBook. . On Dec. 3, 2018, the U.S. Treasury’s FinCEN and Federal Banking agencies issued a joint statement encouraging innovative industry approaches to combating money laundering, terrorist financing and other illicit financial threats. As a result, anti- money laundering (AML) has been occupying the headlines as of late.

accounting and finance 76

accounting and finance Finance Technology Account 76

PYMNTS

DECEMBER 27, 2018

The European Central Bank warned Thursday (Dec. 27) that the economy on a global basis is headed for a slowdown next year. Reuters, citing the European Central Bank’s regular economic bulletin, reported the European Central Bank said the global economy will stabilize after a slowdown in 2019. According to the report, investors have been expecting a slowdown in economic growth across the globe as the cost to borrow rises and the U.S. and China remain embroiled in a trade war.

Washington 76

Washington Government 76

PYMNTS

DECEMBER 28, 2018

Indian Prime Minister Narendra Modi is feeling pressure as many small retailers and traders — a key bloc for his reelection hopes — view his recent curbs on eCommerce as not doing enough for them, according to a report by Reuters. Under new rules imposed by the Indian government, eCommerce companies like Walmart-owned Flipkart Group and Amazon, will no longer be able to sell merchandise from companies in which they have an equity interest, or form exclusive agreements with sellers.

Retail 76

Retail Maine Government 76

Speaker: Yohan Lobo

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.

Account

PYMNTS

DECEMBER 28, 2018

Ajay Chopra, who founded Pinnacle Systems, a digital video hardware and software company for consumer and broadcast markets, wrote a column in TechCrunch about the viability of a private equity buyout for a startup. The option, the current venture capitalist said, is one worth seriously considering. “About 13 years ago I faced an excruciating decision: whether to sell my company, Pinnacle Systems, to a private equity firm or to another large public company.

Sales 76

Sales 76

PYMNTS

DECEMBER 28, 2018

The National Bank of Kuwait (NBK) has announced that it will incorporate RippleNet blockchain into its online banking platform, offering 24-hour wire transfers to Jordan, with more countries being added soon. NBK Direct Remit allows for instantaneous money transfers around the clock. It will cost customers KD 1 ($3.29 USD) per transaction when transferring to NBK Jordan, and KD 5 when transferring to other banks in the country.

Technology 74

Technology Start-ups Account accounted 74

PYMNTS

DECEMBER 28, 2018

It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech community. Researchers this year released new data on banks’ KYC adherence that highlights just how imperative it is that the financial services industry is able to more adequately address the ch

Technology 74

Technology accounting and finance Retail Finance 74

PYMNTS

DECEMBER 28, 2018

Though FinTech has, in many ways, heated up the competition with banks, traditional financial institutions (FIs) widely began to realize in 2018 that their best strategy to remain competitive in today’s financial services landscape is often to collaborate with (not against) those FinTech firms. In B2B payments and corporate finance, it wasn’t only bank-FinTech collaboration that made headlines in 2018.

B2B 73

B2B payroll Spend Management Platform accounting and finance 73

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accounting and finance

PYMNTS

DECEMBER 27, 2018

David Watson of Deutsche Bank contributed the following piece as part of PYMNTS’ Masterclass series , where participants in the world of payments and commerce can sharpen their competitive edge. It may be conventional wisdom to assume that banks and FinTech firms are on opposite ends of the financial services spectrum, where large, asset-rich, traditional financial institutions (FIs) stand in stark contrast to small, bootstrapped tech upstarts, competing for clients’ attention and spend.

Non-Profits 73

Non-Profits Technology Finance 73

PYMNTS

DECEMBER 26, 2018

Matchmaking businesses aren’t exactly a new idea — though the breathless enthusiasm of the tech press might lead one to mistakenly believe that the concept sprang into existence in 2009 with Uber. But in fact commerce intermediaries that bring groups of shareholders together to interact and transact are as old as commerce itself. As Karen Webster pointed out, the first commerce intermediary to operate at scale was Istanbul’s Grand Bazaar , which opened for business 558 years ago.

Technology 73

Technology Real Estate Start-ups Hospitality 73

PYMNTS

DECEMBER 26, 2018

The government of India is reportedly considering the legalization of digital currencies, with some restrictions, per CoinDesk. According to reports, an unnamed senior official, who was reportedly present for the meetings of an interdisciplinary committee, said, “There is a general consensus that cryptocurrency cannot be dismissed as completely illegal.

Legal 72

Legal Technology accounting and finance Transportation 72

PYMNTS

DECEMBER 26, 2018

To let shoppers discover and try out new products, payment companies are helping merchants launch augmented reality (AR) experiences within social media platforms. Pan-African payments firm Cellulant , for instance, created an AR experience in Facebook Messenger. The firm chose a Kenyan brand, Huddah Cosmetics , as the first social commerce merchant on its Mula service to roll out the platform.

Real Estate 72

Real Estate Technology Retail 72

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Technology

PYMNTS

DECEMBER 28, 2018

One of the biggest shifts in banking that FinTech newcomers ushered into the market is the demand among customers for advisory services. With FinTechs offering clients a range of easy-to-use, sophisticated products, banks in 2018 were pressured to react to small businesses’ demand for advisory services — not just data, and not just digital platforms.

Technology 70

Technology B2B 70

PYMNTS

DECEMBER 26, 2018

Artificial intelligence (AI) in the healthcare market is expected to grow to $36.1 billion by 2025. The “Artificial Intelligence in Healthcare Market by Offering, Technology, End-Use Application, End User And Geography — Global Forecast to 2025″ report revealed that AI utilized in healthcare will grow at a compound annual growth rate (CAGR) of 50.2 percent during the forecast period. “Machine learning’s [ML’s] ability to collect and handle Big Data — and increasing

Healthcare 70

Healthcare Pharmaceutical Hospitality Technology 70

PYMNTS

DECEMBER 27, 2018

In 1960, Yul Brynner, Steve McQueen and Charles Bronson introduced America to “The Magnificent Seven,” a John Sturges film in which seven men are hired to defend a small village in Mexico from bandits. What does this have to do with small business banking? Simon Lyons, chief commercial officer at The Slide App, says there is also a Magnificent Seven that banks should call upon in 2019 to protect their customer base.

quickbooks 70

quickbooks tax return Maine Tax 70

PYMNTS

DECEMBER 26, 2018

Open banking didn’t just kick off via PSD2 regulations across Europe and the U.K. Rather, banks around the globe began to understand the potential value in opening up customer data to third-party players, and with more bank APIs emerging in 2018, the year saw a surge in data sharing. It’s not a trend reserved for consumers, either. As PYMNTS looks back at the biggest stories of 2018, open banking and APIs became a central focus of the payments and financial services industry in areas

B2B 70

B2B Technology Finance 70

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

Account

PYMNTS

DECEMBER 26, 2018

The coming year will bring not only advances in the connected vehicle ecosystem — changes that will directly involve payments and commerce — but further developments in how consumers share and buy cars. And as that happens, the worlds of auto finance and insurance will likely undergo shifts as the rest of the industry changes. Payments in 2019 will drive much of the innovation the automotive world.

Transportation 69

Transportation Technology Finance Maine 69

PYMNTS

DECEMBER 27, 2018

Glenn Fodor, SVP and head of First Data Insights, contributed the following piece as part of PYMNTS’ 2018 year-end eBook. Following a year characterized by the disruption of the retail landscape, the growth of digital payments, and significant mergers and acquisitions, 2018 began with many observers expecting to see the downfall of brick-and-mortar in favor of eCommerce, further technological enhancements to digital payments and additional market consolidation.

Technology 69

Technology Retail Start-ups Sales 69

PYMNTS

DECEMBER 26, 2018

U.S. banks are keeping their distance from money transmitters sending cash to Mexico, as worries about money laundering and increased regulatory scrutiny ensue. According to a report in The New York Times , while Mexico is the largest destination for money transfers from the U.S., banks no longer view it as an opportunity. That’s even with The New York Times , citing the World Bank, reporting around $24.3 billion was sent from the U.S. in 2017, accounting for almost all the cross-border money t

New York 68

New York accounted Account accountant 68

PYMNTS

DECEMBER 26, 2018

Hi everyone! Astrologists say that people born on Mondays have the psychic ability to understand others — making them better able to see what’s next. Executive coaches say Monday is the most productive day of the week, since it represents a fresh start and an opportunity to set and achieve new goals. Scientists have offered seven reasons why the “Monday Blues” might be a real thing — using data to back up the belief held by many that Monday is the most dreaded day of the week.

Start-ups 67

Start-ups E-commerce Maine Retail 67

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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

AP Automation

PYMNTS

DECEMBER 24, 2018

Data is valuable. But only in context, because data can tell a story, or stories, worthy of examination. Several times throughout the year we offer Data Drivers, where our interviews with payments professionals help the numbers take shape, take on meaning, illustrate trends and even hint a bit at the future. And, as always, the end the year provides a chance to look back at some of the numbers that told stories.

B2B 65

B2B Technology accounts payable accounting software 65

PYMNTS

DECEMBER 23, 2018

Alan Konevsky is the new chief legal officer for tZERO. The former senior vice president at Mastercard will oversee tZERO’s legal, regulatory, public policy and compliance functions. In addition, he will work with investors, clients and regulators on the company’s Security Token Offering, advisory services business and its partnership with BOX Digital Markets to launch the first SEC-regulated exchange for trading security tokens.

Legal 65

Legal 65

PYMNTS

DECEMBER 26, 2018

The Federal Bureau of Investigation (FBI) is warning about a new form of fraud that targets companies, schools and nonprofits around the United States. According to the Associated Press , “money mules” are individuals who (often) unknowingly use their bank accounts to transfer funds for criminals. The FBI is especially concerned about the people who become involved in international money laundering schemes that result in large economic losses.

Texas 64

Texas Transportation Education Account 64

PYMNTS

DECEMBER 28, 2018

The new year will bring a new round of one of the hottest games in the payments-and-commerce world: What makes millennials tick? The goal? Sift through the ambivalent reports about that consumer segment — steadily advancing toward their peak earning — to figure out how to best sell to them, serve them up worthwhile transactional experiences and keep them coming back for more.

Retail 64

Retail Gaming Sports Government 64

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