CFO Talks

FEBRUARY 25, 2025

IFRS provides a universal financial language, ensuring that businesses across the world speak the same accounting dialect. Being IFRS-compliant means that a company follows a set of internationally recognised accounting rules when preparing its financial statements. But what does it really mean to be IFRS-compliant? Heres why: 1.

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PYMNTS

JUNE 10, 2020

The Bank of Ghana continues to consider the creation of a digital currency, GhanaWeb reported. In other news, authorities have purportedly frozen approximately 4,000 bank accounts in China belonging to digital currency traders, Cointelegraph reported.

Currencies 53

Currencies Accounting Banking Retail 53

PYMNTS

SEPTEMBER 21, 2020

As China prepares to debut digital currency, JD.com Inc., CoinTelegraph.com reported the retailer has entered into a partnership with the Digital Currency Research Institute of the People’s Bank of China (PBoC). The idea is for the corporation and the central bank to craft wallets that support China’s digital currency.

Currencies 56

Currencies Banking eCommerce Technology 56

PYMNTS

MAY 27, 2020

The movement toward digital currencies may be a bit of an arms race of sorts, for now. As noted in this space last week, about 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) are working on central bank digital currencies (CBDC).

Currencies 57

Currencies Banking Retail Accounting 57

PYMNTS

AUGUST 5, 2020

To that end, as Coinstar CEO Jim Gaherity told PYMNTS, the stage is becoming increasingly set for currency — the literal cold, hard stuff of bills and coins — to be rendered in bits and bytes. If consumers have accounts with a particular bank, they can pour coins into the kiosk and conduct a direct-to-account bank deposit.

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Currencies Advertising Numbers Retail 135

Future CFO

APRIL 10, 2022

Digital money will be the future, said PwC recently when releasing its 2022 PwC Central Bank Digital Currency (CBDC) Global Index. It’s estimated that more than 80% of central banks are considering launching a central bank digital currency,” the company noted in a statement.

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Foreign Exchange Currencies Retail Banking 98

CFO News Room

FEBRUARY 5, 2022

Finance minister Nirmala Sitharaman said in the Budget speech that the introduction of a central bank digital currency (CBDC) will give a big boost to the digital economy. Digital currency will also lead to a more efficient and cheaper currency management system.

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Budgeting Currencies Finance Banking 130

PYMNTS

MAY 11, 2020

Office of the Comptroller of the Currency (OCC) Chief Operating Officer Brian Brooks said he thinks digital currency firms could go under a federal licensing program in the event they offer what could be called payment services, CoinDesk reported. Meanwhile, MiL.k,

Currencies 67

Currencies Retail Banking Accounting 67

PYMNTS

MARCH 10, 2020

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Cincinnati-based Fifth Third Bancorp alleging that employees opened accounts for customers without their consent in an effort to reach sales targets, according to reports on Tuesday (March 10). The CFPB filed a complaint with the U.S.

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Accounting Banking Sales Currencies 67

PYMNTS

JANUARY 6, 2021

If the high-level concept is that merchants will accept and banks will issue, in terms of mechanics, the CoDi platform lets users with savings accounts at participating financial institutions to make wire transfers through their phones by scanning merchants’ QR codes or wielding devices at on-site NFC terminals.

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Banking Planning Accounting Currencies 145

PYMNTS

AUGUST 3, 2020

Innovation has been a welcome development for retailers in the pandemic. The store marks a new chapter in retail technology, social retail and social currency all at the same time. The Burberry-Tencent venture could be the most high-profile use of social currency in retail. eMarketer estimates that 11.6

Currencies 50

Currencies Retail eCommerce Accounting 50

PYMNTS

AUGUST 30, 2020

Users could search “digital currency” and find the app — and furthermore, they could activate it by entering the mobile phone number associated with their CCB account. But the brief trial run, however accidental, showed proof that the CCB has been working toward the much-publicized digital currency at the state level.

Banking 95

Banking Construction Currencies Retail 95

PYMNTS

MARCH 26, 2020

Cross-currency money transfer firm Western Union has announced the launch of Digital Location, a new tool that enables people to send money from home. A card is used for payouts into any bank account, digital wallet or agent locations supported by Western Union.

Foreign Exchange 114

Foreign Exchange Currencies Risk Management Technology 114

PYMNTS

AUGUST 5, 2020

This is not a shift because this digital growth isn’t coming at the expense of our retail business so much as it is about getting new customers to the category and other customers from other parts of the remittance market, like banks and other digital financial services providers.”. Earnings likewise fell sharply to $161.9 million ($1.43

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CFO Currencies Education Retail 134

PYMNTS

OCTOBER 9, 2020

In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 Fed, Central Banks Frame Criteria For Digital Currency. Report: How Furniture Retailers Use Automation To Take Fraud Off The Table. million boost.

Currencies 56

Currencies Banking Retail Sales 56

PYMNTS

DECEMBER 17, 2020

The digital currency is up more than 200 percent year to date, and while speculation runs rampant about how high the price can go, as MarketWatch reports , some observers of Wall Street see bitcoin trading as high as $250,000 or more. He said that “back then, the price was driven by mainly retail investors.”.

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Currencies Investments Banking Accounting 117

PYMNTS

MARCH 10, 2020

To allow users to borrow against their holdings, digital currency wallet and exchange company Blockchain.com unveiled a “Borrow” Service. Smith continued, “Now, with our suite of trading products and Borrow, retail users can trade like the big guys without selling the crypto they’ve stockpiled or leaving their Wallet.”.

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Currencies Retail Finance Accounting 86

PYMNTS

NOVEMBER 30, 2020

When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency.

Currencies 117

Currencies Treasury Banking Securities 117

PYMNTS

MAY 11, 2020

Speaking at a virtual conference about the future of money, European Central Bank (ECB) executive board member Yves Mersch said a retail central bank digital currency (CBDC) is a game-changer. “A However, a retail CBDC, accessible to all, would be a game-changer, so a retail CBDC is now our main focus.”.

Retail 52

Retail Currencies Banking Financial Systems 52

Global Finance

OCTOBER 16, 2024

Asia is the engine room of world economic momentum: it will account for 60% of global growth in 2024, according to the IMF, and has 60% of the world’s population. A modern financial institution (FI) faces a challenging environment but a beguiling opportunity in Asia. But it is also challenging to navigate.

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Currencies Economics Leadership Banking 105

PYMNTS

DECEMBER 21, 2020

While it initially focused on currency in online checkouts, the company has branched out to work on checkout and fraud detection, integrating with companies like Shopify , Magento , BigCommerce , WooCommerce and Salesforce Commerce Cloud , according to the the report. Data from the IBM U.S. billion, the report says.

eCommerce 98

eCommerce Valuation Currencies Accounting 98

PYMNTS

NOVEMBER 29, 2019

In a season where tradition is key, retailers are setting new ones with the help of emerging products and services on this Black Friday. You may have missed our coverage of a few of the retail innovators that are summed up below, arranged in no particular order, or perhaps you’ll want to revisit them anew. Shoes As A Currency.

Retail 60

Retail eCommerce Currencies Accounting 60

PYMNTS

AUGUST 5, 2019

And that, it seems, is the approach that Walmart is taking to cryptocurrency — as last week the world’s largest retailer by sales quietly filed an application with the U.S. Patent and Trademark Office for a blockchain-backed digital currency all its own. fingerprint or eye pattern) credit.

Currencies 85

Currencies Pharmaceutical Banking Retail 85

PYMNTS

JANUARY 26, 2021

At present, he said, a number of factors have inhibited the adoption of bitcoin as a transactional currency, including the fact that it’s expensive and can be very slow. The company also offers an FDIC-insured checking account to help spur crypto-friendly banking, Johnson noted. Looking Ahead.

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Currencies Healthcare Numbers Retail 102

Global Finance

MARCH 5, 2025

Scotiabank has officially exited retail banking in Panama, Costa Rica, and Colombia, marking the latest move by a major international lender to scale back in the region. It continued its push into the region in 2016, purchasing Citibanks retail operations in Costa Rica and Panama for $360 million. In 2022, tourism provided 1.8

Banking 52

Banking Compliance Treasury Finance 52

PYMNTS

DECEMBER 23, 2020

As reported by CNBC , the suit hinges on the contention that the crypto — the third largest as measured in terms of market value before a double-digit percentage slide in its value to 34 cents — is a security, not a currency, and thus is regulated by the SEC. “We XRP is a currency, as the DOJ and FinCEN determined in 2015.

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Currencies Securities Investments Sales 93

PYMNTS

AUGUST 2, 2019

The digital currency may be pegged to the U.S. dollar and available for use only at selected retailers or partners. In other embodiments, the digital currency is available for use anywhere.”. Facebook, which proposed the digital currency Libra , would create the Libra Association and have it produce its own block.

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Currencies Retail Accounting Banking 66

PYMNTS

MARCH 7, 2019

The new law will take effect in July and would require most retail outlets to accept physical currency. The move could affect innovation for companies like Amazon and its cashless “Go” stores, which link to an Amazon account through a mobile device and automatically charges for purchases.

Currencies 85

Currencies Retail Accounting Banking 85

PYMNTS

NOVEMBER 22, 2016

Bitcoin wallet iPayYou continues to work toward a future with bitcoin as the default currency. Customers can use the Amazon Direct tab to the iPayYou platform to determine an amount of bitcoin to transfer and the destination account. Now iPayYou users can transfer any amount of bitcoin from their bitcoin wallet to Amazon.

Currencies 98

Currencies Retail Accounting 98

Global Finance

OCTOBER 11, 2024

trillion in extended credit and new capital for its consumer and institutional clients while moving $10 trillion in over 120 currencies daily. Its Consumer & Community Banking business added a substantial amount of retail branches and advisers and leads the First Republic integration. Throughout 2023, JPMorgan Chase raised $2.3

Banking 111

Banking Foreign Exchange Profit and Loss Finance 111

PYMNTS

FEBRUARY 26, 2020

A former Microsoft engineer was found guilty of 18 federal felonies after he stole $10 million worth of digital currency from his ex-employer and used the money to finance a $1.6 He took advantage of that access to steal currency stored value (CSV) such as digital gift cards that he then resold on the internet. . million in bitcoin.

Currencies 82

Currencies Accounting Finance Sales 82

PYMNTS

DECEMBER 6, 2018

Wells Fargo has revealed that it is firing around three dozen district managers due to the retail banking scandal that happened more than two years ago. million fake accounts, which were often created without the consent or knowledge of customers. million fake accounts. An investigation discovered another 1.4

Retail 49

Retail Banking Currencies Sales 49

Barry Ritholtz

NOVEMBER 26, 2024

And find the entire musical playlist of At the Money on Spotify Responsible Crypto Investing Matt Hougan How should retail investors responsibly think about crypto? I’m Barry Ritholtz, and on today’s edition of At the Money , we’re going to discuss how retail investors can responsibly invest in crypto. With crypto.

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Investments Currencies Financial Systems Marketing 59

PYMNTS

JANUARY 19, 2021

Retail giant Walmart is partnering with global money movement leader Western Union to offer in-store payments and transfers. As the world’s largest retailer, Walmart offers customers transparent financial services using their preferred providers. Walmart is much more than a place where customers shop. and abroad.

Healthcare 87

Healthcare Currencies Retail eCommerce 87

PYMNTS

DECEMBER 24, 2020

If one measures success for digital currencies in buzz — and in price appreciation for many of the marquee names — then 2020 stands out as a banner year. Building The (Retail) Use Cases. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Over the summer, the U.S.

Currencies 103

Currencies Banking Education Technology 103

PYMNTS

JANUARY 17, 2019

is to pay federal and state regulators penalties of $11 million for allegedly opening fake store card accounts. The news comes as it was reported last month that Wells Fargo revealed it is firing around three dozen district managers due to the retail banking scandal that occurred over two years prior. million fake accounts.

Accounting 46

Accounting Currencies Sales Retail 46

PYMNTS

MAY 3, 2018

billion, up 31 percent year on year and 27 percent in constant currency terms, was better than the $3.3 Of particular note was cross-border volume, which gained 21 percent as measured in local currency, and driven by Europe. borders, the environment is sanguine, with some retail spending growth in the U.K. billion consensus.

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Currencies Numbers CFO Retail 48