PYMNTS
AUGUST 16, 2018
All you need is a hot idea and some funding. All you have to do is listen to what consumers say they want. The big players have an inherent advantage. Meetings suck the creativity out of any worthwhile project. Those are some of the common myths of innovation , and they apply to the payments world. At best, they are superficially true, ne’er-do-well siblings of cliché.
Katz,Sapper&Miller
AUGUST 17, 2018
The Financial Accounting Standards Board (FASB) has implemented one of the most extensive changes to revenue recognition standards in its history with the issuance of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. As entities address and apply the standard’s provisions, one key element they must determine is how to report their revenues.
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PYMNTS
AUGUST 15, 2018
The founder of crypto startup Savedroid , which just raised $50 million in an initial coin offering (ICO), posted two photos on his Twitter account a few months ago — one of him at an airport and another one of him at the beach. The caption? “Thanks guys! Over and out.” While it seems that Savedroid Founder Yassin Hankir pulled off a fake “exit scam,” the real ones are becoming a problem.
PYMNTS
AUGUST 14, 2018
In technology, innovation, of course, is as critical as oxygen, fueling the “next big thing” and boosting top and bottom lines. And shoring up that “next big thing” comes with patent filings, part of the arsenal of protecting intellectual property, shepherding concept to reality. And, according to Cipher , a data insights firm based in the United Kingdom, in FinTech, the patent race is one that is seeing some clear winners, among them large tech firms, with traditional banks trailing.
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.
PYMNTS
AUGUST 16, 2018
Zoho , the maker of an operating system for businesses, announced on Thursday (Aug. 16) that it will automatically import Uber for Business trip receipts into Zoho Expense, its expense reporting and tracking software. In a press release , Zoho said that with direct integration between the Uber and Zoho apps, business travelers don’t have to manually forward Uber receipts to Zoho Expense.
PYMNTS
AUGUST 16, 2018
Welcome to The Axis, your late look at payments news from around the world. Coverage includes Fortumo ’s rollout of direct carrier billing in Sweden. In addition, Australia Post is deploying a multilane payment solution from Verifone , and MySQUAR has rolled out a soft-launch of a remittance service. Estonia -based tech firm Fortumo unveiled direct carrier billing and SMS messaging in Sweden, the company said in an announcement.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 16, 2018
The shift to digital and mobile forms of payments and commerce is undeniable across various areas such as retailing, banking and B2B payments. But that does not mean a proactive mindset reigns when it comes to mobile security and innovation. Reactive ways of doing things can degrade the user experience — and that can drive away consumers. That was among the main themes of a recent PYMNTS discussion between Karen Webster and Schalk Nolte, CEO of Entersekt , a South Africa-based FinTech firm that
PYMNTS
AUGUST 16, 2018
Zelle , the digital payment app that enables consumers to send money to friends and family, is gearing up to expand its offering to enable customers to pay small businesses. Bloomberg, citing people familiar with the situation, reported Zelle is in the process of enhancing its risk assessment tools as part of the effort to make it safe for people to pay small businesses.
PYMNTS
AUGUST 17, 2018
Food delivery is a $13 billion business in the U.S., one seeing growing interest from various players, ranging from delivery service companies like Deliveroo to ride-hailing giants like Uber. But while innovation is largely focused on making ordering and paying seamless, delivery times remain high, leaving customers frustrated and resulting in restaurants missing out on opportunities to fill more orders.
PYMNTS
AUGUST 15, 2018
Behavioral biometric technology is having a moment in the spotlight, thanks to new European banking rules, the rise of machine learning and artificial intelligence, and the never-ending drive to replace passwords. Recent investment and at least one major acquisition signal even brighter times ahead for the authentication method, but there is still a long way to go.
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.
PYMNTS
AUGUST 14, 2018
FinTechs are going after another financial market void, this time providing loans to customers with low credit scores. According to a report in the Wall Street Journal , citing the market research firm Competiscan, LendUp Global and Fair Square Financial are among the FinTech startups that are going after borrowers who have less than stellar credit, sending out about 35 million credit card offers in the mail in the first six months of 2018.
PYMNTS
AUGUST 16, 2018
First, there was automation, then robotics process automation (RPA). As the enterprise makes its way through the Industry 4.0 age of automation and data sharing, analysts say there is yet another wave ahead, combining smart technologies to make businesses more efficient. Industry 4.0 is the term given for the current trend of automation within the enterprise.
PYMNTS
AUGUST 17, 2018
Bots are marching steadily into the corporate accounting department as professionals feel more comfortable handing tasks to a machine. Since automation technologies have taken some of the burden of monotonous activities away from accountants, the profession has exchanged some of its anxiety about robots replacing their jobs with support for enhanced functionality and efficiency — though, not entirely.
PYMNTS
AUGUST 17, 2018
Not every consumer wants to add yet another app to their mobile phone. In fact, smartphone users aged 35 to 54 delete their existing apps more frequently than they download new ones, according to a recent report. That’s a problem for fast-casual and quick-service restaurants (QSRs), which are betting on apps to boost mobile ordering. In the August Mobile Order-Ahead Tracker , PYMNTS explores how restaurants and service providers alike are working to find new ways to reach app-weary customers, in
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Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.
PYMNTS
AUGUST 16, 2018
Approved, the online mortgage platform company, announced Thursday (Aug. 16) in a blog post that it has been acquired Credit Karma. In a blog post , Approved Chief Executive and Founder Andy Taylor said that with the acquisition, Credit Karma is gearing up to build a consumer-facing digital mortgage platform for its 80 million members. “We started Approved with a vision that borrowers could visit an open house not having even talked with a lender, find the home of their dreams and get full
PYMNTS
AUGUST 17, 2018
After what feels like years writing about the ongoing retail apocalypse, it is just a touch surprising to see retail do so well this week — especially physical retail. But, much like the the dog days of summer, physical retail has been undeniably on fire as earnings results have started to roll in. The people, it seems, are a spendin’ — and they are even going to the stores to do it.
PYMNTS
AUGUST 13, 2018
Defcon , the annual hackers conference, has turned up a new security concern in smart speakers like the Amazon Echo. Two presenters at the conference, Tencent’s Wu HuiYu and Qian Wenxiang, offered a presentation called Breaking Smart Speakers: We Are Listening to You , which detailed how they had both hacked into an Echo and turned it into a bugging device that could be used to spy on its users.
PYMNTS
AUGUST 13, 2018
Citigroup announced Monday (Aug. 13) that Jud Linville, CEO of global cards and consumer services, will leave the bank as part of executive reshuffling. According to a report in CNBC , Citigroup is overhauling the executives in its global consumer banking businesses and, as a result, Linville will leave. David Chubak, head of global retail banking and mortgage, will be in charge of the global-branded cards and the consumer lending business, reported CNBC.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
PYMNTS
AUGUST 13, 2018
Core inflation spiked 2.9 percent over the last 12 months, essentially flattening wage gains that had edged into the last several months’ economic reports. The July jump is the biggest pick-up the index has seen in a decade, and is considered another piece of evidence that the Federal Reserve should proceed carefully with an interest rate increase.
PYMNTS
AUGUST 15, 2018
To bring a beer tour and tasting experience to its customers, Guinness has opened a $90 million brewery in Maryland. The location is the company’s first new brewery in 60 years, CNBC reported. The brewery, which is located just outside of Baltimore, may bring in 300,000 visitors a year to its facilities, which are said to include a brew house, restaurant, tap room and gift shop.
PYMNTS
AUGUST 15, 2018
43 percent : That is the amount of high-income millennials who said they would be more likely to visit a gas station if its app offered them convenience, loyalty and savings. Fueling up vehicles and mobile apps seems, on the surface, like a natural, obvious pairing. After all, drivers are often in a hurry, and topping off the gas tank is one of those chores that no one really likes to do.
PYMNTS
AUGUST 13, 2018
Loyalty rewards for shoppers are not new to the Gap , or its associated brands, Banana Republic, Athleta and Old Navy. For those who carry either the branded Gap card, or the Gap Mastercard (or anyone who has ever been part of a retail rewards program), the offerings are fairly familiar. Shoppers who use their Gap card get a discount (10 percent off in-store and online), accrue points and enjoy perks like free shipping, exclusive offers and events.
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.
PYMNTS
AUGUST 16, 2018
Traditional brick-and-mortar retailers are rolling out omnichannel options. To that end, Home Depot has been installing lockers in many of its locations to allow customers who place online orders to easily pick up their merchandise at the store. The move enables the retailer to get items to online customers right away, instead of having them wait for their purchases to be delivered to their home and comes as “[customers] want as many options as you can possibly give them,” a Home Depot spokes
PYMNTS
AUGUST 11, 2018
Americans do a lot of driving. According to the latest edition of the American Driving Survey , each Americans spends about 290 hours a year behind the wheel, driving about 10,000 miles. As a nation, Americans drive some 2.5 trillion miles per year. To put those figures in some perspective, the amount of time the average American spends on the road is equivalent to seven 40-hour weeks at the office.
PYMNTS
AUGUST 17, 2018
What’s old is new again, kind of — or how about secondhand goods and first-rate funding? Funding of $500 million is affirmation, it seems, of a marketplace that underpins the buying and selling of used goods. Online firm letgo , which brings sellers who want to unload secondhand items to interested buyers, said this month that it closed a $500 million funding round from Naspers , a South Africa-based internet and media firm.
PYMNTS
AUGUST 16, 2018
More than 50 percent : That’s the amount of U.S. bills paid online. As eCommerce continues to rake in revenue — global sales volume topped $2.3 trillion in 2017, and that could nearly double by 2021 — online billing platforms are rushing to incorporate payment processing capabilities into their offerings. That’s according to the new “ Payments Powering Platforms Tracker ” from PYMNTS.
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?
PYMNTS
AUGUST 13, 2018
Digital data is one thing, and mobile apps do pretty well in appealing to high-value customers, but integration is the real trick. The ability to tie it all together into one friction-free experience can save time and boost revenue. That’s the thinking behind the newest U.S. patent awarded to CARDFREE , a mobile wallet provider, which recently made news when it struck a deal with Dunkin’ Donuts that gives the chain a “perpetual license to the software used to build and operate the (Dunkin’) mob
PYMNTS
AUGUST 17, 2018
To help Mall of America merchants engage with Chinese consumers, CITCON has teamed up with the shopping complex to offer stores a cross-border mobile payments system. The feature will be offered in merchandise shops, Nickelodeon Universe and guest services, CITCON said in an announcement. “Chinese consumers have become accustomed to the idea of doing everything on mobile,” CITCON Founder and CEO Chuck Huang said in the announcement. “Accepting the familiar and preferred mobile payme
PYMNTS
AUGUST 17, 2018
To look into blockchain payment applications, Bank of China (BOC) is teaming up with China UnionPay. The tie-up was fueled by regulatory requirements as well as market demand, and provides opportunities for cross-border payments, Cointelegraph reported. The two companies are seeking to look into distributed ledger and big data technology to update products for mobile banking.
PYMNTS
AUGUST 13, 2018
83.2 Percent. That’s the percentage of commuters who would engage in commerce if that function was integrated into their cars and trucks. That compares with 51.2 percent of drivers who use a connected device to order and pay for things as they as go about commuting to and from work. Source: Digital Drive Report, a PYMNTS.com/Visa collaboration. Technically, connected vehicles are already here.
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.
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