PYMNTS

JULY 5, 2020

The nation’s marijuana regulator has told financial institutions to treat the $500 million hemp businesses the same way they would any other businesses. In updated rules from the Financial Crimes Enforcement Network ( FinCEN ), the U.S. Treasury Department’s financial crime division, the agency said the new guidance is in response to questions related to Bank Secrecy Act/Anti-Money Laundering regulatory requirements for hemp-related business customers.

Treasury 140

Treasury Banking Concentration Manufacturing 140

Jedox Finance

JULY 1, 2020

The sophisticated technology behind modern EPM solutions is still a mystery to many. In this blog post, we’ll look at the definition of OLAP as well as an overview of the technology. We explain what lies behind OLAP, what cubes have to do with it and what makes the technology so powerful for modern planning, budgeting, and forecasting. Background and Overview.

Technology 92

Technology Sales Budgeting Forecasting 92

PYMNTS

JULY 3, 2020

The global pandemic has left no industry unscathed, but the travel business has the unfortunate distinction of being the sector that was slammed first and hardest, Colin Smyth , head of travel at payments platform Flywire , told Karen Webster in a recent conversation. “They took [that] punch in the stomach first, and they’ve had to rebuild, thinking about the ways they can survive until the industry opens back up again,” Smyth said.

Economics 140

Economics Budgeting Manufacturing CFO 140

PYMNTS

JULY 14, 2020

The acceleration of [digital sales] growth can be explained almost entirely by an influx of first-time buyers.”. When consumers fled to online shopping options in Q2, many businesses weren’t set up for digital-first commerce, but quickly figured it out. There’s a cautious optimism now as SMBs, in particular, discover that going digital itself has gotten easier.

eCommerce 135

eCommerce Sales Investments Leverage 135

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

CFO

PYMNTS

JULY 1, 2020

A group of big European banks is planning to challenge Visa ’s and Mastercard ’s positions as the world’s two largest payment processing networks, Electronic Payments International reported. . Dubbed the Pan European Payment System Initiative, or PEPSI, the group has the support of 20 French and German banks, and would handle all forms of cashless transactions. .

Banking 130

Banking Planning Technology Marketing 130

PYMNTS

JULY 14, 2020

“Organizations may have had to engage in relaxation strategies, which could inversely impact their fraud appetite, as they had to let more transactions through without reviewing them. The risk is real.”. Spikes in cybercrime are making headlines daily, and people are getting burned. Preparedness often decides the outcome. “In our experience, clients running machine learning models haven’t had to change thresholds,” said Nuno Sebastião , co-founder and CEO at Feedzai.

Communication 124

Communication Banking Planning 124

PYMNTS

JULY 26, 2020

India has embraced its model for digital payments so much that it intends to take it global. Since its debut four years ago, India’s Unified Payments Interface (UPI), the instant payment system developed by the National Payments Corp. of India (NPCI) that facilitates inter-bank transactions, has propelled the growth of online payments, the Financial Times (FT) reported.

Startups 123

Startups Banking eCommerce Accounting 123

PYMNTS

JULY 30, 2020

The ATM isn’t living up to its full potential, a fact that’s really starting to come into focus for financial institutions (FIs) under COVID-19. The days of the ATM serving as just a quick cash dispensary are numbered, Sonia Sedler , Diebold Nixdorf ’s global head of managed services and banking strategy, told PYMNTS in a recent discussion. Consumers who are rapidly moving to digital commerce in the pandemic’s wake are looking for very different things when it comes to transacting with financial

Banking 118

Banking Leverage Numbers Retail 118

PYMNTS

JULY 31, 2020

Tests of truly autonomous self-driving vehicles have been uneven at best, but with each scraped test hubcap, the concept draws closer to reality. Major automakers are in, with Toyota backing autonomous driving startup Pony.ai and Fiat Chrysler striking a deal with AutoX , the Hong Kong-based firm that has developed an artificial intelligence (AI) platform for driverless vehicles.

Education 118

Education B2B Startups eCommerce 118

Advertiser: Paycor

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

PYMNTS

JULY 3, 2020

Robert Morris , founder and CEO of agricultural-imaging company TerrAvion Inc. , is bringing modern technology to what’s perhaps the world’s oldest business — farming. All with the simple goal of helping farmers more precisely grow the food that consumers want to eat — and grocery stores want to buy. “ Agriculture is the original high-tech industry,” Morris told PYMNTS.

Technology 117

Technology Planning Marketing 117

PYMNTS

JULY 8, 2020

QR codes have been around for years, although they often seemed like a marginal tech solution in search of a problem. But as is the case with so many things in our brave new world, COVID-19 is giving new purpose to the much-maligned QR code as an elegant enabler of touchless commerce. We mostly have China to thank for figuring it out – specifically, Alipay and rival Tencent.

Transportation 117

Transportation Economics Sales Securities 117

PYMNTS

JULY 29, 2020

With the economic and political battles between the U.S. and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions. The bank’s messaging applies to Hong Kong and Macau as well. With U.S. sanctions against China looming, state lenders there have reportedly been developing contingency plans.

Banking 116

Banking Currencies Economics Planning 116

PYMNTS

JULY 14, 2020

As the United States experiences a coin shortage due to the pandemic, some brick-and-mortar retailers are forcing consumers to tell cashiers to “keep the change.”. Kroger is the largest chain so far to do so, temporarily refusing to give coins out as change. Customers can either round up their bills to the nearest dollar and give the excess to charity or get their change stored on loyalty cards. “The Federal Reserve is experiencing a significant coin shortage that is impacting our store op

Retail 116

Retail Accounting 116

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

Investments

PYMNTS

JULY 1, 2020

Stay-at-home mandates have consumers spending more on subscriptions, ranging from streaming services to buying retail products for day-to-day use. It is perhaps not surprising that merchants that are offering subscription services are flourishing. Yet, these services are still not immune to experiencing churn. Both consumers and businesses are tightening their belts in the face of the economic downturn caused by the pandemic, and many are actively considering plans to cancel their subscriptions.

Economics 115

Economics Planning Retail 115

PYMNTS

JULY 1, 2020

B2B payments account for $25 trillion in the United States each year, but these transactions are often fraught with frustrations and challenges. Studies have found that B2B invoices take an average of 37.4 days to settle , a pace that is largely due to the business world’s lingering reliance on analog payment methods like paper checks. Digitizing these payments has been a top priority for banks, payments processors and businesses for several years, but this digitization has its own fair share of

Banking 114

Banking B2B Invoicing Budgeting 114

PYMNTS

JULY 7, 2020

Merchants’ needs have changed dramatically due to the pandemic. Digitizing operations tops the list of merchant imperatives, but getting there can be a struggle — especially when it comes to digitizing the checkout experience for a post-pandemic age. To that end, as Visa Acquiring Partner Relationships Vice President Josh Park told PYMNTS, finding the right tech providers and partnerships can be critical.

Invoicing 113

Invoicing Education eCommerce Accounting 113

PYMNTS

JULY 17, 2020

Transit system operators were already thinking about making at least a partial switch to contactless payments long before a global pandemic disrupted any and every element of how people moved between Point A and Point B. Mary Kay Bowman , Visa ’s head of seller solutions, told Karen Webster in a recent conversation that some operators had contactless payments already partially available in segments of the public transportation system, while others had it earmarked for a project several years in

Transportation 112

Transportation Planning 112

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

Accounting

PYMNTS

JULY 28, 2020

The bank-FinTech collaboration model is often about wielding digital-native FinTech solutions to fit within bank offerings. Yet this week’s look at the latest tie-ups reveals new models of collaboration, including FinTechs expanding their footprint within banking, and wielding banks to fit within their own tech solutions. Kabbage Steps Into Banking.

Banking 111

Banking Finance Compliance Investments 111

PYMNTS

JULY 2, 2020

Consumers’ commerce patterns have been very much upended in the past few months and shifted heavily to digital. On the upside, this digital gold rush has created an opportunity for merchants to push about a decade’s worth of digital innovations out the door in weeks. But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation.

eCommerce 112

eCommerce Accounting Numbers Technology 112

PYMNTS

JULY 13, 2020

A $20 billion federal initiative to provide emergency funding to small businesses is out of cash. The U.S. Small Business Administration (SBA) announced in a press release the end of the Economic Injury Disaster Loan (EIDL) Advance program. The EIDL was crafted to provide economic relief from $1,000 to $10,000 to businesses and nonprofits that experienced a temporary loss of revenue during the pandemic.

Nonprofit 111

Nonprofit Profit and Loss Healthcare Economics 111

PYMNTS

JULY 3, 2020

Open banking is shaking up the financial industry and is poised to revolutionize the way banks share data with each other as well as with third-party app developers, FinTechs and payment providers. Open banking — a system in which banks allow third parties to freely access their data to develop new apps and services and provide bank customers with greater transparency — is accomplished with APIs that allow third parties to interface with bank systems and access data with minimal friction.

B2B 111

B2B Banking Invoicing Reconciliations 111

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Accounting

PYMNTS

JULY 2, 2020

Deutsche Bank, the Frankfurt-based multinational financial services company, is in talks with regulators to rescue Wirecard Bank, the deposit-taking division of the German payment company that is facing one of the country’s biggest accounting frauds, the Financial Times reported. Wirecard Bank is separate from Wirecard AG, its parent company that filed for insolvency protection last week.

Banking 111

Banking Auditing Accounting Technology 111

PYMNTS

JULY 30, 2020

Large pharmacy chains selling mixed merchandise are a mainstay of life throughout the developed world. Familiar planograms with the pharmacy in back, pulling shoppers through rows of candy and cosmetics to get their medicine is an everyday routine. Or it was. Big Pharmacy’s reliance on the sale of non-pharmacy products — a strategy that’s worked for years — may now be an Achilles’ heel in a post-pandemic battle for prescription drug market share, where waiting on pharmacy lines with sick people

Mergers and Acquisitions (M&A) 110

Mergers and Acquisitions (M&A) Healthcare Profit and Loss Retail 110

PYMNTS

JULY 7, 2020

“The digital economy is here, and those payment providers that are global, digital and fully resilient will lead the reemergence.” . “Robust operational resilience is now a non-negotiable component of any business engagement,” according to Manish Kohli , global head of payments and receivables, Citi Treasury and Trade Solutions. “By the very nature of our industry and regulatory requirements, banks have made resilience a core competency.

Treasury 110

Treasury Leverage Banking Marketing 110

PYMNTS

JULY 8, 2020

Mastercard is harnessing artificial intelligence (AI) in a bid to hit fraudsters hard by searching for emerging patterns of criminal activity before they become major problems, two top executives told Karen Webster during Mastercard’s Virtual Cyber & Risk Summit. “In many cases, AI is fundamental to scaling and keeping up with the pace of the network transactions that are happening,” said Sudhir Jha , a Mastercard senior vice president and head of Brighterion , an AI company that Masterca

Credit Risk 109

Credit Risk Risk Management Securities Economics 109

Advertisement

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

Reconciliations