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Uphold isn’t a bank, and it’s aiming to disrupt the traditional financial services industry. But traditional FIs are an essential partner for the firm. Last week, Uphold announced a partnership with India’s IDFC Bank, a move that allows Uphold’s business and consumer customers to conduct cross-border transactions to and from the home of the world’s fastest-growing economy.
Merchants have a lot going on these days. The EMV liability shift just hit the six-month mark , the force of mobile continues to strengthen, and industry players are shape-shifting their business models all while authenticating consumers just keeps getting more complex – and that’s the tip of the iceberg. As Merchant Link CIO Scott Carcillo pointed out during a recent sit down with MPD CEO Karen Webster to discuss what’s happening in the world of merchants and how they’re overcoming the challeng
Perhaps put in a litigious mood by the lawsuit recently filed against her and her sisters, Kourtney and Khloé, by Hillair Capital Management for the trio’s alleged failure to promote the “Kardashian Beauty” makeup line — and/or worried that she’ll need to bring in some extra money to pay for the $180 million in damages being sought therein — Kim Kardashian West has gone on the legal offensive in a completely unrelated manner.
Bank of America just took a major step toward extending its mobile banking services to a growing base of millennials that are steering away from traditional banking. The bank announced its collaboration with Facebook in which it is developing new capabilities that would allow its customers to stay connected with the bank on Messenger. The announcement comes on the heels of Facebook’s F8 conference, where the tech giant revealed details on its plan to commerce-enable its Messenger app via
It deserves to be said — before jumping into the speculation well about Apple’s future with Tesla — that there is perhaps something a bit silly about jumping to endgame planning on the basis of a single quarterly earnings result. Apple may have posted its first negative sales result in 13 years, but it does at least bear mentioning that it was a pretty impressive streak that probably was, logically speaking, going to have to end one day.
“Open Sesame” was the magical phrase that a poor mythical woodcutter named Ali Baba uttered to open the door of a secret cave in which 40 thieves had hidden bags of gold. The power of his voice, and using the right words, gave him access to that fortune, and changed his life forever. Here at PYMNTS, we think that it’s quite possible that the future of payments and commerce lies in the power of the spoken word, too.
“Open Sesame” was the magical phrase that a poor mythical woodcutter named Ali Baba uttered to open the door of a secret cave in which 40 thieves had hidden bags of gold. The power of his voice, and using the right words, gave him access to that fortune, and changed his life forever. Here at PYMNTS, we think that it’s quite possible that the future of payments and commerce lies in the power of the spoken word, too.
Refund.me aids consumers in recovering money from a refund and champions consumer rights, but the refund.me Group is now entering into the space of protecting corporates and their business travelers. The company announced on Friday (April 8) that it is introducing Business Solutions, a unit of the firm that acts as a B2B online platform to help business travelers recover funds by automating the refund claims process.
Too bad for Andrew Jackson that the musical about his life wasn’t nearly as popular as the one about Alexander Hamilton. CNNMoney reports that a groundswell of support to keep Alexander Hamilton on the $10 bill — much of it bolstered by the phenomenal success of the hip-hop Broadway musical “Hamilton” that opened last summer — has compelled Treasury Secretary Jack Lew and the U.S.
There is an ancient piece of wisdom that dictates one should either go big or go home, and according to recent reports, Stuart Sopp has no intention of going home. Instead, he is looking for the firm he founded — Current — to become the first digitally native global bank. Big dreams, especially for a firm that is currently acting as a money transfer service for Slack , a workplace (and increasingly small group) messaging service.
In January of this year, I wrote a piece in which I said there were six things that would shape the direction of payments and commerce in 2016. Third on that list was “contextual commerce.”. I argued that making buying seamless inside of environments that consumers used regularly for other reasons would drive innovation for those environments —and for the third parties that enabled those new commerce experiences.
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.
The EMV numbers tell a compelling story. In the six-plus months since the EMV liability shift deadline hit the U.S. payments market, the continued momentum of EMV adoption has surprised just about everyone. As part of its six-month EMV checkup , MasterCard said that more than two-thirds (67 percent) of its branded consumer credit cards in the U.S. have chips in them and that roughly 1.2 million U.S. merchant locations now accept chip cards.
Until about a couple of weeks ago, bots were mostly thought of as the last four letters of a word that began with “ro” and a concept that even Alphabet decided might not be ready for prime time. Well, that is unless you’re in Japan where robots – dinosaur robots to be precise — are now acceptable substitutes for hotel reception staff. Who knew — the next big thing in hospitality, checking in via raptor.
Ford is soon launching its new FordPass platform that, according to the company’s website, comes with a pretty big ambition: to “empower” consumers to “rethink the way [they] move.”. And not through fancy new cars with 435 horses under the hood, but instead “through a collection of personal, digital and physical solutions.”. FordPass is an app-based platform intended to assist users with mobility, through a series of solutions for everything from parking to unlocking a user’s car and diagn
It’s official. Since the cutover to EMV in October, fraudsters have moved their business online. And we can tell you just how much. The Global Fraud Index, a PYMNTS and Forter collaboration , shows that online fraud attacks have jumped by 11 percent since the shift. Digital goods retailers have suffered the worst of all as those merchants (think games, songs, movies) have seen a more than 300 percent increase in fraud attacks since the liability shift.
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.
The biggest firms in the nation are gearing up for same day ACH payments – an eventuality that could hit in September of this year. As reported by NACHA, the electronic payments association, the readiness was disclosed in a survey that had been conducted by the association, with the two strongest use cases identified across same day ACH. Firms are looking to use ACH across payroll and B2B functions.
Meeting the consumer where they are. That’s the mantra of innovators everywhere. It’s what’s turned the retail word upside down as consumers with their mobile devices have decided they’d rather buy from their couch with their mobile phone than schlep to the mall. It could also be what could transform what used to be called the “unattended” or “vending” industry.
Crowdfunding may be a stylish way for a business to get off the ground, but the crowdfunding model can play into small business finance in other ways. Kickfurther is one company that takes the model of a marketplace lending platform, allowing investors to finance a company against outstanding invoices and inventory. Now, one leading venture capitalist is supporting Kickfurther’s business model.
When it comes to fighting fraud in payments , one thing is very evident: It can’t be done alone. That’s why there’s more and more partnerships forming everyday across the ecosystem. And why more and more companies are rushing to implement solutions to fight fraud. In fact, as cited by TYSY in a recent report about managing fraud and how to prepare for the 2016 alerts requirements, there’s been a 40-percent decrease in incidents of fraud when cardholders monitor transactio
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.
Can the data trapped in “Digital Exhaust” – like online and social media data – be used to validate identity and predict fraud? Socure sure thinks so. And it has the data model to prove it. Suppose you could build a model that would help financial institutions of any kind fill in those gaps with online and social data that could make thin files thick without increasing their risk?
Payment’s Next Big Thing: The “Uber Of Nothing” ”I’m about to sneeze. May I have a Kleenex , please?”. “I have a headache. Do you have an Aspirin ?”. “Quick! I cut myself and need a Band-Aid.” Kleenex. Aspirin. Band-Aid. It’s not as if a person making the request for a tissue, pain reliever or bandage was specifically asking for a Kleenex, Bayer Aspirin or Band-Aid brand item.
A joint venture from VirtusaPolaris and IT consulting firm WorkFusion is looking to give the banking and financial services sector a boost through robotics and automation. The collaboration , revealed Tuesday (April 26), is reportedly targeting FIs’ outdated tools and systems to jumpstart the sector’s ability to operate in the modern market. “Most financial services organizations continue to struggle with inefficient legacy systems that have not kept pace with the change in business and regulati
Though it was their grandparents that gave rise to modern American consumer culture, millennials often get dinged for being too obsessed with having the latest and greatest gadgets. While it’s true that Apple and other smartphone makers have developed nearly irresistible cults of personality around their brands, there’s evidence that millennials are just as quick to drop the essential items of generations gone by if it suits their needs.
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
For a while, body weight was the best factor for determining physical health. Somewhere along the way, body mass index took over the preferred spot. But now that BMI has been discredited, too, perhaps a more holistic way of looking at oneself might work? That’s the mission behind Naked Labs, which announced on Thursday (April 14) that it’s releasing what it calls “the world’s first 3D fitness tracker for consumers.” Essentially a full-length mirror and rotating pla
Craigslist is a remarkable living time capsule of the Internet Age — not only because it looks like it still runs off a Geocities template but because its business model hasn’t changed to any great degree since it started. What goes up must come down, though, and Close5’s 7 million app downloads may give Craigslist something to worry about.
The jobs picture in the U.S. is less than inspiring, according to new figures released by Challenger, Gray & Christmas yesterday (March 31). According to the report, the good news is that layoffs were down nearly 22 percent from February. The March total of 48,207 layoffs is the lowest since December 2015. The bad news is that the totals were up 32 percent from the same time in 2015, making last month the fourth in a row in which the year-over-year total has increased.
Visa has set an Oct. 14 date for having all issuers provide consumers with Purchase Alerts on all on and offline Visa transactions processed through VisaNet (GPR and commercial cards are excepted). PYMNTS asked Mark Nelsen, SVP of Risk Products and Business Intelligence at Visa, to give us a little insight and a few answers to the questions that we’ve been getting about this service.
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.
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