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Hundreds of thousands of new small businesses (SMBs) open their doors every year in the U.S., be them physical or digital. The latest estimates from the Small Business Administration (SBA) peg the number of new SMBs at 414,000 each year, spurring job creation and economic growth for the country, with millennial entrepreneurs at the helm. The high failure rate of a new small business has entrepreneurs focused on simply surviving their first few years in operation.
Have I Outgrown My SaaS Accounting Software? It’s one of the most common questions that I receive from SaaS finance professionals and founders. They ask, “We’ve outgrown our current accounting software. What SaaS accounting software do you recommend?” There are so many choices in the marketplace, but I feel that few software vendors focus on […].
With the use of contactless payments heating up around the world, small and mid-sized businesses (SMBs) and their solution providers have to prepare for their acceptance. Mobile point-of-sale (mPOS) terminals that are enabled for contactless have to meet certain specifications to gain EMVCo 3.0 certification: They must, for instance, resolve issues when a payment reader’s too-powerful field strength results in damaged smartphones and cards.
Security researchers at Kaspersky Lab revealed at the Kaspersky Security Analyst Summit in Singapore that a dark net marketplace in which hackers are selling digital fingerprints has emerged. According to a report in ZDNet , Kaspersky Lab said at the summit criminals are selling the digital fingerprints of more than 60,000 individuals. Dubbed Genesis, the marketplace emerged in the fall of last year when the creators started advertising it on forums where hackers sell payment card details they’v
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
It may seem that cross-border payments were in the … well … crosshairs this past week, with a number of country-by-country and company-by-company initiatives using blockchain and other methods to speed payments and lower fees. In Myanmar, Shwe Rural & Urban Development Bank has partnered with Krung Thai Bank, which is state-owned, to debut a cross-border transfer money offering that is in turn tied to the Ethereum blockchain.
Visa introduced a platform on Monday morning (April 22), complete with beta application programming interfaces (APIs), that will allow issuers and issuer processors to build and test new products. The company said the platform is available for the company’s clients and partners through Visa Next, a website billed as a “new destination” for glimpsing and using new solutions in the payment giant’s ongoing pipeline.
Visa introduced a platform on Monday morning (April 22), complete with beta application programming interfaces (APIs), that will allow issuers and issuer processors to build and test new products. The company said the platform is available for the company’s clients and partners through Visa Next, a website billed as a “new destination” for glimpsing and using new solutions in the payment giant’s ongoing pipeline.
The idea started in the B2C world, but it wasn’t long before online sellers were asking about its use for B2B — at least, according to Chris Tsai, co-founder and CEO of Resolve , in a new PYMNTS interview. Resolve, a B2B payment services firm that spun off from Affirm , provides point-of-sale (POS) financing to consumers via retailers, including Walmart.
“When do you want to get paid?” It’s a basic question that — when posed to anyone, particularly, a small business (SMB) — most always has the same answer, no matter who one asks or within what industry: now. Until recently, “now” was almost never an option, since it was always based on when the funds had cleared, regardless of how that payment was made.
Back in the golden olden days of print newspapers, bad guys would regularly read the obituaries, then craft a plan to break into houses and steal valuable items during the wake or funeral. But like most analog businesses, this criminal model has gone digital. Today, the internet makes discovering and then executing creative ideas not much more than a mouse click away — which makes exploiting death for the purposes of identity fraud easy, too.
While most CEO stories are about having founded a firm to solve a problem, Upstart CEO Dave Girouard and his team of former Google staffers actually started with a solution. A solution, he told PYMNTS four years ago , that had nothing to do with financial services or lending at all — they were actually studying hiring and figuring out ways to track employability over time with data.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Petroleum exploration company PTT Exploration and Production (PTTEP), Thailand’s largest corporation, is collaborating with blockchain firm Ripple to integrate its technology for cross-border transactions. Reports in Ripple Coin News on Tuesday (April 23) said PTTEP and Siam Commercial Bank (SCB) are joining Ripple to accelerate cross-border transactions for PTTEP.
Bitcoin, through the lightning network, will soon be available as an option to pay on Amazon and other eCommerce sites, according to reports. Cryptocurrency payment processing company Moon said any e-wallet that is lightning-enabled can also be used through the company’s browser extension. Moon previously allowed about 250 beta users to use crypto on eCommerce sites by connecting them through exchange accounts like Coinbase. “(The extension) will pop up a QR code and it will have the light
Coinbase , the cryptocurrency exchange operator, announced Wednesday (April 10) the launch of the Coinbase Card in the U.K., which is a Visa debit card that lets customers in the U.K. spend crypto as easily as they spend money sitting in a bank account. In a blog post , Zeeshan Feroz, chief executive of Coinbase U.K., said the Coinbase Card is funded by customers’ Coinbase account crypto balances, giving them the ability to pay in-store and online with bitcoin , ethereum, litecoin and other digi
One decade draws to a close, the next one looms. Only a few months into 2019, the year is already shaping up to offer a bit of a watershed in how we pay and how we get paid. The headlines may trumpet the size of multi-billion dollar deals, as Fiserv links with First Data , and FIS gathers Worldpay into its fold. As the 2010s roll off into the 2020s, the fact remains that technology is blurring the lines that used to exist before the (continuing) digitization of commerce.
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.
When it comes to online shopping, one of the greatest frustrations for consumers — and friction points for merchants — is having to manually enter credit or debit card information for each purchase. It’s no wonder that 78.9 percent of consumers today have account information stored online with at least one or more companies or service providers. In the latest Mobile Card Services Playbook , a collaboration with Ondot , PYMNTS surveyed more than 9,500 U.S. consumers to get a better understanding
Cross-border FinTech efforts have seen increasing participation from central banks and monetary authorities. Among the most recent headlines, in Asia this past week, the Monetary Authority of Singapore (MAS) and the National Bank of Cambodia have signed a memorandum of understanding (MOU), that Business Times said will boost partnerships on FinTech and financial services innovation.
FinTech firms are tackling everyday challenges across Africa by digitizing payments and providing increased transparency. Cellulant ’s Agrikore and Tingg Marketplace offerings, for instance, seek to take on the continent’s food struggles. Cellulant Group Co-CEO Bolaji Akinboro told PYMNTS in an interview, “We believe that this solution can help solve food crises and hunger in Africa which has the landmass and climate to grow as much quantity of food that can feed the world.
It was a good day for Jumia Technologies on Friday (April 12) — and that’s a good signal about the future prospects of eCommerce in Africa, home to some 1.3 billion people, of whom at least 725 million have mobile devices. On its first day of trading, shares for the company often called the Amazon of Africa jumped some 54 percent, trading at about $22.
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
Wells Fargo announced Tuesday (April 2) the launch of contactless consumer credit and debit cards. In a press release , Wells Fargo said the new cards will enable customers to complete transactions quickly and with a single tap at millions of merchants and transit systems that accept contactless payments. The bank said it will enable customers to tap to initiate an ATM transaction at more than 13,000 ATMs around the country later this year.
A new type of phishing scam targets the HR departments of companies and asks for reroutes on direct deposit accounts, CNBC reported. Once the changes are made, a paycheck will go directly into a criminal’s account. KVC Health Systems, a child welfare nonprofit based out of Kansas City, has been hit with the scam. The emails look legitimate, and purportedly come from the company’s CEO, CFO or payroll director.
Afghanistan is looking to boost its ailing economy with bitcoin. At the annual Spring Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund in Washington, Khalil Sediq, governor at the Central Bank of Afghanistan, told The Asia Times that Afghanistan might issue a sovereign crypto bond that uses blockchain technology.
The Intelligence of Things (IoT) has become a fixture of everyday life, with more than 14 billion connected devices expected to be in use by the end of 2019. However, as IoT continues to proliferate in more industries and use cases, concerns about data privacy have quickly followed, with consumers and lawmakers ra ising concerns about attacks from bad actors.
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.
With U.S. gig workers accounting for more than $1.4 trillion in income by the end of 2018, it’s safe to say the gig economy is becoming a mainstream part of the global economy. From ridesharing drivers to freelance designers and consultants, an increasing share of gig workers are pursuing specialized jobs, often juggling multiple at once. In fact, the share of those in the gig economy with highly specialized skills rose to 32.3 percent in Q4 2018 — a 12.2 percent increase over the previous quart
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In technology, especially when it comes to consumer-focused technology, Apple is viewed as a disruptive force. Tick down the list of offerings spanning decades (the Mac, the iPhone, the iPod, iTunes, the iOS operating system/ecosystem), and one can find that the ways we communicate, listen, stream and, indeed, interact with technology have all shifted.
The race to 5G retail is on. The new, faster mobile network technology is a big part of the plans for many commerce and payments operators, even though specific use cases have been only slowly emerging as the technology and the devices to support it are deployed. Recent news out of Asia serves as solid foreshadowing of how 5G could enhance retail in the coming few years.
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?
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