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There is no shortage of headlines about the partial government shutdown that is now on its 27th day, and no shortage of articles speculating how long it will go on, what will be affected and (most often) what it will take to finally bring it to an end. There is, yet, one simple takeaway from all of them: So far, there is no end in sight. While that can — and hopefully will — change any day now, the reality is that the longer the government remains partially closed for business, the longer 800,00
Robert J. Shiller has shown remarkable prescience over the years. And with talk of inverted yield curves, overvalued stock markets, and imminent recession, the present struck us as an opportune time to see what was on his mind.
If January 1 is a good time for reflections and resolutions, late January—right now is even better. Think about it: it’s the first moment of breath after the inevitable burst of post-New Year’s activity.
When talking about advances in home automation and artificial intelligence (AI)-guided systems for consumers, the conversation has a natural tendency to drift toward younger consumers, particularly millennials. That focus isn’t unwarranted, as there are 75 million millennials, and the older half of that generation (the group PYMNTS has termed Bridge Millennials ) is much more likely than the average consumer to own a smart device, and more likely to use it to make a purchase.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
Tech companies are taking more time to reach their initial public offerings, with the median gap between their early financing and their IPOs hitting 10.1 years in 2017, up from 6.9 years in 2013, according to a recent estimate. A robust supply of private capital reportedly is one of the main reasons for that, along with corporate cultures that are averse to public markets.
With the global mobile point of sale (mPOS) market projected to experience a compound annual growth rate (CAGR) of 18.8 percent from 2017 to 2026, many solution providers are looking to use partnerships as a boost to snag a bigger share of the growing market. Around the mPOS space, providers are teaming up, merging or making acquisitions. In the January mPOS Tracker , PYMNTS charts the latest developments.
With the global mobile point of sale (mPOS) market projected to experience a compound annual growth rate (CAGR) of 18.8 percent from 2017 to 2026, many solution providers are looking to use partnerships as a boost to snag a bigger share of the growing market. Around the mPOS space, providers are teaming up, merging or making acquisitions. In the January mPOS Tracker , PYMNTS charts the latest developments.
Amazon has its eyes on expansion for its Whole Foods brand in closed Sears and Kmart stores, according to a report by Yahoo! Finance. The recent woes of Sears and other struggling retailers are seen as an opportunity for the online retail giant. Sources told Yahoo! that the company is visiting sites of now defunct retail spaces. For example, Whole Foods managers went to a site in Utah that used to be a Kmart.
Africa as next great eCommerce frontier? The ingredients for a revolution in payments across the region, fueled by demographics and technology, seem to be there. In an interview with PYMNTs’ Karen Webster, Saqib Nazir, managing director of Africa at Emergent Technology delved into the ways the payments landscape across Africa is ripe for digital and mobile conduits, and a “cash light” mentality that focuses on the needs and desires of a burgeoning and youthful population.
While commercial card innovation certainly accelerated in 2018, progress can always continue. One area of development that J.P. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. It’s not altogether an unfamiliar concept, of course. Much attention has been paid to mobile business payments in the fleet sector in particular, with Comdata launching its mobile app, Comdata OnRoad, that links
A new report has revealed that Fortnite’s in-game currency is being used to launder money from stolen credit cards. According to a report by The Independent and cybersecurity firm Sixgill , a hacker will access someone else’s credit card information, and then use it to create a Fortnite account and buy V-bucks, which is the game’s currency. Once the account fills up with V-bucks, it is then sold through a legitimate vendor like eBay, or on the dark web, for lower rates that the $10 for 1,000 gam
In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.
In Asia, blockchain continues to get a boost from government and regulatory efforts, especially in the realm of trade finance done across borders. In one example from the past several days, the China Banking Association (CBA) — the regulatory agency tied to the sector — has launched a new blockchain-underpinned initiative focused on trade finance.
Stripe, the San Francisco digital payments startup, has landed a $100 million investment from Tiger Global Management, boosting its valuation above $20 billion. According to a report in CNBC , citing The Information, with the $100 million investment by Tiger Global Management , Stripe now has a valuation of $22.5 billion. It comes on the heels of Stripe raising $245 million in a Series E round of fundraising last fall.
Mastercard was slapped with a $648.3 million fine by the European Union, which alleged that the payments company raised the costs of card payments artificially. According to a report in Reuters , citing the European Commission, the bloc’s antitrust regulator, the move is part of an effort on the part of European regulators to stamp out fees that U.S. credit card companies charge.
Before consumers started to trade brick-and-mortar shopping experiences for eCommerce websites, retailers could bring customers through their doors with window displays. Now, with this shift, retailers are creating engaging experiences that digitally-connected consumers can tap into online with the help of virtual reality (VR) and augmented reality (AR) technologies.
Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.
In a recent report published by Protiviti and North Carolina State University, analysts found just how important technology and innovation are becoming for corporate executives. Their December 2018 survey found “digital readiness” to be the c-suite’s top priority for 2019, with executives also reflecting their concern that the biggest risks their companies face are intensifying.
New York has banned the ban. In the wake of court filings this week that effectively ended a challenge to surcharges on credit card transactions in New York, merchants in the Empire State can indeed embrace those fees, contingent upon stating those costs to consumers up front. The merchant plaintiffs and the state of New York filed motions on Jan. 8 to dismiss a challenge to such charges, seemingly capping a battle stretching back years.
China’s startup market had a good year in 2018, with close to 100 technology companies garnering a valuation of more than $1 billion. Known as unicorns, the companies were led by eCommerce and video streaming services, the Financial Times reported, citing data from Hurun’s ranking of China’s top tech companies. According to the report, Hurun, which also produces the annual rich list for China, found there are 186 Chinese tech startups that have valuations of more than $1 billio
It looks like we can finally have a serious conversation about the impending collapse of physical retail in the U.S. All it took was a 160-year old retailer and a $34 billion kick in the stomach to the retail sector to get everyone’s attention. News last week that Macy’s profits would take an unexpected Q4 nosedive set off a retail stock market shock wave that wiped $34 billion in value from the sector.
Finance teams are balancing more than ever, but manual processes shouldn’t slow you down. In this ebook from BILL, discover how AI is transforming finance—automating AP, expense tracking, and document management to reduce errors, increase efficiency, and improve financial control. Learn how real companies are using AI-powered automation to streamline workflows, detect anomalies, and gain deeper insights.
Here’s a 2019 prediction that we guarantee will come true: There will be no human being or business adamantly hoping to be paid slower in 2019 than they were in 2018. We also guarantee that this prediction will hold, regardless of who one is talking about or the use case to which it pertains. That could be the small merchant wanting access to their daily sales on the same day instead of seven days later, the dad who just sent $100 to his college-age kid to buy food for the weekend, an Uber drive
The rapid rise of smart cities promises to connect citizens with a wide range of municipal services. By some accounts , approximately 70 percent of the world’s population will reside in smart cities by 2050. Citizens in this type of environment will find a host of connected devices designed to enhance their daily routines, such as smart parking meters that help drivers find and pay for parking.
As fraudsters become more brazen in their efforts, banks are realizing they need to do more than simply respond to suspicious activities as they find them. Instead, a deeper understanding of fraud — down to its genetic outline — is needed to be truly effective in fighting it. The new Digital Banking Tracker highlights how banks are adopting new approaches to protect their customers and clients from nefarious actors.
New technologies face numerous tests that go beyond whether they work. Will consumers use them for daily or near-daily tasks? Are there pragmatic business models associated with them? How will they scale? And how will regulators and lawmakers respond? Artificial intelligence — arguably one of the most important digital technologies going into 2019 — could soon face export regulations set by the U.S.
Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Robots have taken their place inside eCommerce and other commerce-related warehouses, and will in the coming years take even larger roles in fulfillment, according to estimates. Hot on their trail are machine learning and artificial intelligence (AI) technology — the software and algorithms promising to reduce the risks of overstocking and understocking, and providing other benefits that can boost retailers’ revenue.
On the face of it, the lure of real-time payments might seem like an inevitability. The concept is gaining traction and deployment across any number of avenues and several countries. In a recent example, in the U.S., a number of leading tech companies have become vocal in their support of a real-time payments (RTP) network, to be created under the leadership of the Federal Reserve and different from what has been previously proposed by the big banks.
Online retail and mobile commerce had their shining moments over the 2018 holiday shopping season — the latest evidence of that comes from Adobe Analytics , which said that U.S. consumers spent a record $126 billion online during that period, above the company’s earlier projection. The new figure comes amid fresh questions coming out of that holiday season about the viability of brick-and-mortar retail sales.
Mastercard , the payments company, said late last week that it is still committed to operating in China. In a press release , Mastercard said that it is making every effort to secure the license to access the domestic Chinese market and confirmed it is in active talks with different solutions. Mastercard said it plans to present another application for a bank card clearing license shortly.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
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