PYMNTS

DECEMBER 29, 2020

In an interview with PYMNTS, Lilia Metodieva, managing director at Monneo , said virtual international bank account numbers (IBANs) can help firms gain scale internationally, and customize payments to serve the needs of their end customers. Platforms and single access points help bridge the gap between traditional banks and eCommerce.

Numbers 115

Numbers Accounting Banking Currencies 115

PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. The Federal Reserve Bank has been exploring a digital currency.

Currencies 70

Currencies Banking Retail Securities 70

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 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

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

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.

Currencies 105

Currencies Economics Leadership Compliance 105

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.

Accounting 67

Accounting Banking Sales Currencies 67

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

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.

Foreign Exchange 98

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.

Budgeting 130

Budgeting Currencies Finance Banking 130

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 107

Banking Foreign Exchange Profit and Loss Finance 107

PYMNTS

MAY 4, 2017

On Tuesday, Dubai FinTech company OneGram announced it would offer a gold-backed digital currency called OneGramCoin with the hopes of raising over $500 million in capital. We’re creating a merchant service program, and we will offer these tokens to retailers for free,” Mohammed was quoted as saying. “If trillion.

Currencies 41

Currencies Retail Finance Sales 41

CFO Talks

JULY 4, 2024

Here are the most valuable and practical insights from their discussion: Embrace Diverse Backgrounds for CFO Roles Traditionally, CFOs have come from strong accounting backgrounds. Key Takeaway: CFOs should develop strategic plans for the integration of digital currencies into their financial systems.

CFO 52

CFO Strategic Planning Currencies Prioritization 52

PYMNTS

JANUARY 20, 2020

Add Australia to the list of countries with central banks looking to bring fiat currencies into the digital realm — with some conditions attached. A CBDC would be denominated in the sovereign currency, and convertible at par with other forms of money.”. The language is interesting — and noteworthy. What It Won’t Do. The Rewards.

Retail 40

Retail Currencies Banking Financial Systems 40

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 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

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

JULY 25, 2018

The company announced Tuesday (July 24) that its Oracle Banking Virtual Account Management solution is now available to corporate banks. The solution aims to simplify banking for businesses with multiple bank accounts in multiple currencies.

Accounting 40

Accounting Banking Cash Management Currencies 40

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

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.

Currencies 48

Currencies Numbers CFO Retail 48

PYMNTS

NOVEMBER 4, 2019

According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017. The rise of mobile commerce and selling of digital goods has added to retailers’ fraud problems. In fact, North America’s top 1000 online retailers have sold $143 billion worth of goods to customers outside the U.S.,

Retail 49

Retail eCommerce B2B Currencies 49

Global Finance

JULY 26, 2024

A fragmented regulatory environment, uneven access to financial services, a shallow pool of readily available funds, and currency controls and limitations in some African markets can lead to trapped cash. This includes incoming payments, cash deposits, and cleared checks against their accounts. billion Egyptian pounds (about $618.7

Cash Management 52

Cash Management Treasury Reconciliations Currencies 52

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.

Currencies 66

Currencies Retail Accounting Banking 66

PYMNTS

JANUARY 26, 2018

Weird” is a currency in this world. Then there was the epic Wendy’s Twitter account and Denny’s Tumblr, which capitalized on meme culture and internet sass. The attention economy is a tough game to win (much tougher, we’ll wager, than any of the games in the Gamers box). Who else is getting weird-rich in the attention economy?

Currencies 40

Currencies Education Manufacturing Communication 40

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.”.

Currencies 86

Currencies Retail Finance Accounting 86

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.

Currencies 135

Currencies Advertising Numbers Accounting 135

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

CFO Talks

JULY 4, 2024

The CFO Club started about two years ago when my organization, the Chartered Institute of Business Accountants, recognized a need to cater to all types of CFOs. We found that CFOs often have diverse backgrounds—not just accounting. True to what you said, today’s CFO is not just a traditional chartered accountant.

Leadership 52

Leadership CFO Benchmarking Prioritization 52

Global Finance

JULY 26, 2024

To this end, UniCredit expanded its UC PayFX solution in 2023 to corporate and microbusiness retail clients in Romania—the country’s first fully automated, end-to-end international payments service, offering instant conversion for multiple currencies.

Cash Management 52

Cash Management Treasury Currencies Banking 52

PYMNTS

APRIL 17, 2020

Smooth accounts payable (AP) processes are critical in the spice business, in which purveyors must send funds securely to vast numbers of distributors and growers worldwide. … We don’t write it down even, [but] it’s all in our accounts payable [system],”. That’s why we have all the accountabilities we have.”.

Accounts Payable 60

Accounts Payable Securities Accounting Invoicing 60

PYMNTS

MAY 22, 2017

A new study has found that retail global expansion has lost some steam, and while the United States remains the most active, Europe is now the preferred spot for expanding retailers, according to Chain Store Age. The results found that retailers’ expansion into new markets increased by 2 percent in 2016, down from 3.1

Retail 43

Retail Currencies eCommerce Marketing 43

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.

Currencies 93

Currencies Securities Investments Sales 93

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

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.

Banking 145

Banking Planning Accounting Currencies 145

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