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PayPal announced on Monday (June 3) the launch of the PayPal Commerce Platform, which is designed to meet the needs of marketplaces, eCommerce solution providers and crowdfunding platforms. In a blog post , Bill Ready, PayPal’s chief operating officer, said the new digital platform will provide what the company is calling the most comprehensive set of technology, tools, services and financing for businesses of all sizes around the world.
Orthopedic executives, like so many others in healthcare, are trying to navigate the transition to value-based care while running a practice that operates smoothly and is financially successful. But navigating new reporting requirements, medical and technological advances, and new care delivery models doesn’t leave much time for combing through benchmarking data to find actionable insights that can help improve a practice’s operations and finances.
It’s not just technology that moves the world. Culture plays a huge role — as well as the sparks that often come from the tension when cultures clash. That promises to be the case going forward with Open Banking, as financial institutions (FIs) pick partners and proof of concepts. Open Banking is a global effort that resets the relationships FIs have with FinTech firms, payment providers and financial service providers.
Lead, follow or get out of the way — that seems to apply to the rise of Open Banking, which promises more financial services innovation, along with greater financial transparency and flexibility. While nothing is inevitable, and even the best plans are always in danger of stalling out or being derailed, the energy behind Open Banking is gaining steam.
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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.
MoneyGram and Canada Post have teamed up for a digital money transfer service that allows users to complete transactions at select Canada Post locations all over the country, according to a release. “To initiate a transaction, consumers simply visit moneygram.ca, create a profile, start a transaction and choose the ‘Cash at a Location’ option,” the release said.
The two most powerful forces shaping the future of retail payments have nothing to do with payments at all. At least at first glance. Ironically, they are also the two things that shaped the modern payments landscape as we know it today, as it grew up and got wired over the last 60 years – and why that playbook is being disrupted by players decades their junior with market caps that rival or even dwarf their own.
In the old days, forged checks were the biggest problems that bank fraud departments had to manage. Today, financial institutions (FIs) face a barrage of cyberattacks from hackers operating around the world, continuously shifting their tactics. It is no wonder that fraud prevention is one of the problem areas that FIs hope artificial intelligence (AI) can help resolve.
In the old days, forged checks were the biggest problems that bank fraud departments had to manage. Today, financial institutions (FIs) face a barrage of cyberattacks from hackers operating around the world, continuously shifting their tactics. It is no wonder that fraud prevention is one of the problem areas that FIs hope artificial intelligence (AI) can help resolve.
Intro: Consumers undeniably want all of their transactions faster – and there is a penalty to be paid for making them wai t. But fast is no substitute for safe, which means the future of speed is really all about authentication on the quick. Artificial intelligence and machine learning can do a lot of that heavy lifting, if operators are using the real deal and not something merely AI-ish.
Despite the dreams and expectations among all kinds of people during the rise of eCommerce and digital payments, cash isn’t really going away. Sure, one may find numerous instances and specific markets in which cash use has given way to payment cards or mobile wallets, but, for various reasons, physical coins and bills endure, and will likely do so for quite some time.
Alipay has tripled its number of merchants in Europe to “tens of thousands” in the past year. “We’re talking about tens of thousands of merchants who are really excited about the opportunity that Alipay provides them to tap into those wealthy and middle-class consumers, who are traveling to see the world and want to buy great brands from Europe,” said Roland Palmer, head of Europe for Alipay, according to CNBC.
Cars and quick-service restaurants (QSRs) have been interconnected since drive-ins were the latest innovation. QSRs thrive on speed and convenience, and that once meant catering to customers in cars via drive-thru windows. Now cars have transformed from vehicle to ordering platform, and QSRs have been on the forefront of this transformation. Consumers increasingly rely on mobile for ordering food, and in-car connected services are making this behavior even easier.
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
HSBC has reportedly expanded its PayMe digital wallet to startups and small businesses, marking its first foray into the business payments marketplace. According to a report in the Financial Times , the U.K. bank quietly rolled out the digital wallet in Hong Kong as a response to competition from the likes of Tencent and Alibaba. In February, reports had surfaced that HSBC was testing the wallet with business customers.
Call it the chain of doubt. When new regulations take effect, especially sweeping ones that impact eCommerce, at least some firms take a “wait-and-see” approach. But as PSD2 looms, with new requirements for customer authentication, “wait and see” may hit merchants and other European firms right in the bottom line. As Spencer McLain, vice president, EMEA at Whitepages Pro , told PYMNTS, data privacy regulations like GDPR and compliance mandates like strong customer authentication (SCA), which is
Square, the digital payments company that handles millions of transactions for consumers, sometimes sends the receipts to the wrong people, a situation chronicled in a new Wall Street Journal report. According to the report, citing emails seen by the paper, Square has erroneously sent receipts documenting transactions ranging from a simple cup of coffee to more significant purchases.
Technology and automation have made inroads into several areas of everyday life — witness the rise of digital assistants and autonomous vehicles. However, in the business realm, some everyday functions remain untouched by tech that can save money and, especially, time. Many accounts payable ( AP ) departments are still burdened with manual, paper-based payment processes, or have implemented payment automation solutions only to find that the benefits weren’t as significant as they’d hoped.
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.
As consumers grow accustomed to digital shopping and mobile ordering, slow transactions can make or break the customer experience. That’s why real-time payments and fund disbursements have become so important across industries. The global value of real-time compensation is projected to reach $34.3 billion over the next five years, according to the latest Disbursements Tracker.
In an academic study , researchers at Cambridge University and Linkoping University in Sweden were able to learn people’s passwords by getting a phone microphone to listen to the sound waves when they typed, according to a report by The Washington Post. “We showed that the attack can successfully recover PIN codes, individual letters and whole words,” the researchers wrote.
Facebook is set to announce its cryptocurrency later this month, and will reportedly even allow the project’s employees to get paid in the new currency. The social media giant has been working on the project — code-named Project Libra — for more than a year, centered around the company’s own digital coin that users can send to each other, as well as use to make online purchases.
Yes, the weekend has arrived! We don’t know about you, but it was a busy week for PYMNTS, given all the news coming from the worlds of payments and commerce. Review our coverage, including stories about Stripe’s chargeback protection plan, the latest on open banking progress, a big investigation into crypto and the latest on the emerging ecosystem of predictive retail.
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?
Uber is expanding its transportation services, launching helicopter rides in New York City starting in July. Customers will be able to book on-demand rides in a helicopter from JFK Airport to Lower Manhattan, The New York Times reported, and the eight-minute trip will cost $200 to $225. The ridesharing firm thinks that with Uber Copter it can cut down the time it takes to get from JFK to NYC to as little as 30 minutes.
Stripe , the payments company, announced Monday (June 2) the launch of Chargeback Protection, a new service that provides customers with machine learning-based fraud protection. In a press release, Stripe said the new tool is based on Radar , its tool that prevents fraud and protects against future chargebacks. With Chargeback Protection, businesses on Stripe are automatically reimbursed for the cost of a disputed charge and any associated fees.
The corporate restructuring of struggling retailer Sears continues, with hedge fund owner Edward Lampert reaching a deal this week to combine Sears Hometown with Sears and Kmart. But the fallout for B2B vendors of Sears resulting from the company’s financial struggles continues under the radar. Reports in the New York Post on Sunday (June 2) said thousands of vendors across the globe are struggling to continue doing business with Sears, with small and independent businesses and entrepreneu
Santander, a Spanish bank, and eBay have teamed up to offer lending services to small businesses, in an attempt to stave off competition from not only larger companies but smaller ones as well, according to a report by the Financial Times. A FinTech app owned by Santander called Asto will begin to offer loans to about 200,000 small and medium-sized businesses (SMBs) through eBay in the U.K. by the end of the year.
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!
It’s not enough to just be a retailer these days, it seems. Digital ads are also part of the process — at least that’s the story coming from recent developments involving major merchants. Take Target as one example. The retail chain reportedly has been in discussions with Triad Retail Media , the retail advertiser owned by WPP PLC, to acquire it.
Mobile food ordering has quickly gone from niche activity to mainstream. Between 2016 and 2018, the volume of orders placed through mobile apps grew by 130 percent, according to PYMNTS’ Mobile Order-Ahead Tracker. Mobile represents roughly 60 percent of all digital restaurant orders today. This rapid growth is expected to boost the market’s value to $38 billion by 2020.
Around the world, banks and FinTech firms are addressing challenges associated with enabling fund disbursements in real time — and some markets are developing real-time networks faster than others. In the latest Disbursements Tracker , PYMNTS explores how banks and card providers are approaching payment innovations to keep pace with consumer demand, and to better protect against fraudsters.
Sell on a marketplace or sell in one’s own digital shop? It is a discussion — and, more recently, a robust debate — with those on each side, convinced that their models are the right ones for a digital world. In one corner are advocates of buying a domain name and setting up a solo shop on the world wide web as the best strategy for building an individual brand name, and keeping control of the customer and the customer experience.
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.
China UnionPay , the credit card issuer, is expanding in Europe, rolling out debit and credit cards. The Financial Times , citing China UnionPay, the world’s largest card issuer, reported it inked a partnership with Tribe Payments , a U.K. tech startup, to enable banks and FinTechs to offer individuals and companies branded cards. The program kicks off in June.
Cards (as in prepaid, stored-value cards that consumers can use for gambling, payroll and a variety of other uses, many of them novel) are only half the battle. The real trick is to tie engaging consumer experiences to those cards, which is critical, as prepaid and reloadable cards continue to evolve — moving from plastic cards to mobile accounts that can adapt to an expanding portfolio of use cases, including payroll, online gambling or even consumer and business lending.
Square is releasing new order management integrations for Square for Restaurants, which will allow orders from DoorDash, Postmates and management platform Chowly to flow directly into a restaurant’s point of sale (POS), according to a release by the company. “ Square for Restaurants now streamlines the entire process of accepting off-premises orders, like delivery or takeout requests, and enables restaurants to be even more efficient and productive,” the release said.
There are plenty of signs that Apple is gearing up to say goodbye to iTunes. MacRumors reported that Apple has taken down all of the social media content from its iTunes page on Facebook, including posts, photos, and videos. In addition, it has removed all photos and videos from its iTunes profile on Instagram, while its Twitter account still has content for the time being.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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