PYMNTS
AUGUST 9, 2020
Google’s transition to SAP Ariba ‘s cloud-based services has a completion date set for Aug. 24 after multiple waves that began last October, according to a press release. The final wave concerns the Asia Pacific region. Last October, U.S. suppliers were switched over, and in May of this year, the rest of North America, Latin America, Europe, the Middle East, and Africa made the jump, the release says.
The SaaS CFO
AUGUST 3, 2020
The SaaS revenue cycle all starts with bookings. But what is a booking? And how does a booking differ from invoicing and revenue? SaaS is full of metrics, but in this case, we are mixing SaaS and accounting terminology to make things even more confusing. In this post, I will explain the differences among a […]. The post Bookings vs Invoicing vs Revenue | The SaaS Revenue Cycle Explained appeared first on The SaaS CFO.
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PYMNTS
AUGUST 3, 2020
Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta.
PYMNTS
AUGUST 7, 2020
Companies that have filed for Chapter 11 bankruptcy are using the court protection to end long-term lease agreements early and close thousands of stores, reported Bloomberg. The news site named Neiman Marcus Group Inc, Brooks Brothers Group Inc, J.C. Penney Co., J. Crew Group Inc. and the owner of Ann Taylor as companies looking to use this protection to avoid lease renegotiations and even back out of rent obligations altogether.
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PYMNTS
AUGUST 21, 2020
More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. While Chinese traders are limited to the purchase of up to $50,000 of foreign currency annually, the volume suggests stablecoins could be being used to circumvent the regulation, according to Chainalysis , the New York-based provider of regulatory compliance
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PYMNTS
AUGUST 13, 2020
Waze, the popular GPS navigation app owned by Google, has introduced contactless payments for ExxonMobil and Shell card holders in the U.S. When drivers pull into participating stations, they will see a notification on Waze prompting their Android or iOS device to securely pay through each company’s app. “Waze is committed to continuing to help businesses leverage innovative technology to adapt, evolve, and engage with customers,” said Andrew Kandel, Waze U.S. country manager, in a statement.
PYMNTS
AUGUST 10, 2020
Real time is getting ever closer to prime time. But it might not be the Federal Reserve ’s doing. You’d be forgiven for thinking that faster payments might be the purview of the U.S. Federal Reserve, where details (a roadmap, really) of FedNow , the proposed instant payment system, were released earlier this month. But with a 2023-24 timeframe to implementation, the Fed’s efforts will take a while to cross the Rubicon from concept to reality.
PYMNTS
AUGUST 4, 2020
The past several years have been good times for digital banking players popping up to challenge traditional brick-and-mortar financial institutions for market share, but recent months have accelerated that trend into overdrive. Consumers worldwide are realigning their entire lives around digital — and looking for financial services providers to meet their new, emerging lifestyles.
PYMNTS
AUGUST 5, 2020
The great digital shift, along with the pandemic, has brought all manner of activities into the virtual realm — most notably, of course, commerce itself. 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. The evolution — beyond sorting coins stored in proverbial piggy banks and coffee cans and toward bill pay and commerce, all in a self-service environment
Speaker: Claire Grosjean
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.
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PYMNTS
AUGUST 31, 2020
With estimates that over 500 billion real-time payments will be processed over the next five years, the race is on for upgrades and integrations that allow financial institutions (FIs) and their clients to participate in a real-time payments space that is expected to reach nearly 53 billion real-time payment transactions by 2024. The FI’s Guide to Modernizing Digital Payments , done in collaboration with Red Hat , details developments in real-time payments, providing insights and direction for F
PYMNTS
AUGUST 5, 2020
Western Union (WU) reported Tuesday (Aug. 4) that while second-quarter revenues fell for much of its business, WesternUnion.com’s average monthly active customers shot up 45 percent year over year. Chief Financial Officer Raj Agrawal told PYMNTS that Q2’s digital growth was “unbelievable.”. Agrawal said the company’s digital operations have grown not just in terms of dollar amounts, but also in terms of how many new customers the pandemic has brought in.
PYMNTS
AUGUST 5, 2020
In Greek mythology, Thrasos is the character that personifies boldness. Drop the ‘os’ and add an ‘io,’ and it’s a company that personifies the fast track to digital commerce success. Thrasio has taken its Amazon-centric business model to a high level at high-speed, snapping up some of the marketplace’s hottest sellers and creating a company that one of its investors says is “revolutionizing eCommerce.”.
PYMNTS
AUGUST 17, 2020
The Commerce Department released July’s retail sales last week, showing an increase in seasonally adjusted retail spending – up 1.2 percent overall last month, but down from the 8.4 percent growth in June. Analysts reported that physical retail sales, seasonally adjusted, were up 2.7 percent overall in a trailing 12-month period, and that businesses had mostly recovered all of the losses that had been incurred in the March-through-May lockdown.
Speaker: David Worrell, CFO, Author & Speaker
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.
PYMNTS
AUGUST 16, 2020
China’s Ministry of Commerce is moving forward with its plan for a digital currency, according to a report by The Wall Street Journal (WSJ). The plan will come with a large number of cities in which to test the currency, including Beijing and the provinces Tianjin and Hebei in the north, the Yangtze River Delta to the south, and the Guangdong province and the neighboring cities of Hong Kong and Macau along the country’s prosperous southern coast, WSJ reported.
PYMNTS
AUGUST 13, 2020
With back-end digitization no longer an option for the financial services sector, adoption of cloud infrastructure is a vital — yet often painful — process for financial institutions (FIs), FinTechs and other organizations. The biggest friction points are often traced back to the sheer size of the project. Migrating apps and data from on-premise systems into the cloud can seem an overwhelming task, and indeed, there are many pitfalls and mistakes organizations can make in the process.
PYMNTS
AUGUST 14, 2020
The relationship between traditional banks and the slate of FinTechs that have arisen over the past decade hasn’t always been one of enthusiastic cooperation. Big banks tended to view FinTechs and their offerings with suspicion — meaning that in the early days, startups often had to beg banks for access to the infrastructure to build it out better. Although it wasn’t easy for either side, the landscape has begun to change, Payoneer ’s General Manager Eyal Moldovan told PYMNTS in a recent convers
PYMNTS
AUGUST 3, 2020
When it comes to B2B payments fraud, it’s not a matter of if it happens, but when. Speaking with Karen Webster in a recent interview , OnPay Solutions President and CEO Neal Anderson explained that organizations have to prepare themselves to mitigate the fraud threat, even as employees work from home. “Everybody needs to be suspicious,” he said. “Everybody should worry that this activity is happening.
Speaker: Dave Sackett
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.
PYMNTS
AUGUST 16, 2020
Berkshire Hathaway ’s unloading of billions of dollars from bank stocks is exacerbating the hurt on the nation’s biggest financial institutions, Reuters reported. Warren Buffett, the company’s chairman and CEO, has sold shares of Wells Fargo and J.P. Morgan Chase and dropped an investment in Goldman Sachs. Based on its second quarter filing with the Securities and Exchange Commission, Reuters reported Berkshire reduced its Wells Fargo stake by 26 percent to 237.6 million shares, lowered its sta
PYMNTS
AUGUST 11, 2020
If you are interested in not just tracking your credit score, but finding ways to boost it, American Express may have the product for you. On Tuesday (Aug. 11), Amex launched Score Goals , an online platform that augments and expands the card company’s established credit score tool, MyCredit Guide. The new offering, which is available to consumers whether or not they are American Express cardholders, “includes a range of information and tools to help them understand their credit score better and
PYMNTS
AUGUST 19, 2020
With B2B payments being an increasingly attractive target for innovators, the landscape is growing crowded as more banks and FinTechs roll out their accounts payable (AP) automation solutions. The competition is undoubtedly heating up. According to Comdata ’s Senior Vice President of Product Tad Fordyce , there are several key areas where financial institutions (FIs) can focus to drive the most value for their corporate clients.
PYMNTS
AUGUST 21, 2020
Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts. “We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro , chief operating officer of boat rental and charter marketplace GetMyBoat , told PYMNTS.
Speaker: Erroll Amacker
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
PYMNTS
AUGUST 4, 2020
The global pandemic has changed commerce fundamentally — a fact confirmed in Visa ’s new Back to Business study. To say that consumers have shifted dramatically toward digital commerce — or that small- to medium-sized businesses ( SMBs ) all over the world have been rapidly pivoting to keep up with them — is almost an understatement. According to the eight-country study, 78 percent of consumers have changed how they pay for things so as to reduce contact in their commerce.
PYMNTS
AUGUST 14, 2020
China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid. Now, Guo Shuqing, chairman of the China Banking Regulatory Commission, the nation’s top banking regulator, said investors have been saddled with more than 800 billion yuan ($115 billion) in debt from the failed platforms, Bloomberg News reported.
PYMNTS
AUGUST 3, 2020
Mobile payments penetration has historically faced a gap in Southeast Asia , Joel Neoh , founder of leading regional online-to-offline company Fave , told Karen Webster. Consumers in locales like Singapore, Malaysia and the Philippines can store payments credentials on their phones and make online purchases with no problem, but it was a different story using them in physical locations.
PYMNTS
AUGUST 4, 2020
Although the 2008 financial crisis jolted the world economy, the financial conditions leading up to the disruption had been a long time coming. It’s perhaps the biggest economic difference between then and the current climate, in which a global pandemic thrust millions of workers in the U.S. into unemployment and fractured supply chains across the globe — all within a matter of days.
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