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Just in time for the summer travel season, Mastercard has announced a series of partnerships in over 80 cities worldwide, which will enable card carriers to tap to pay for public transit. “With a Mastercard in their wallet, more and more people have a go-to transit pass for the city they’re in,” said Ian Slater, senior vice president, enterprise partnerships at Mastercard.
Want to know what your peers are reading on treasury and risk management ? We thought we would share with you our most popular content from Q1. Top pieces from last quarter included case studies and fact sheets. Discover the content your fellow treasury professionals felt were most helpful, and brush up on your skills for the quarter ahead. Case Study: How Jaguar Land Rover Improved FX Risk Management.
Visa announced Tuesday (May 30) that it is rolling out enhancements to its Verified by Visa service, a global solution designed to make online purchases more secure by helping ensure payments are made by the rightful owner of the Visa account. In a press release, the credit card company said that with the upgrade, financial institutions and merchants would be better able to authenticate consumers and reduce fraud on transactions made via a mobile or desktop browser, app or connected devices.
Cash is dead? Keep a lid on the casket talk. In the latest webinar series, PYMNTS’ Karen Webster jumped into the findings of the Global Cash Index, gaining a sense of the story behind the numbers in the United States and the Americas in general. In conversation with Cardtronics’ Brian Bailey, managing director for Global Financial Institutions, and Tom Pierce, chief marketing officer of the firm, Webster noted that even with the rallying cry of a war on cash in the digital economies — and in eme
Innovation is happening at the speed of payments — which, as it turns out, can be pretty fast these days. In this edition of the PYMNTS’ Commander in Chief Series , Western Union President Odilon Almeida shares a day in the life as leader of one of the largest global person-to-person money transfer networks, what smartphones have done for the payments space and why security and compliance are always key in a game where the rules are changing every day.
The commerce life of a consumer is becoming more digital by the day, given the proliferation of mobile wallets, eCommerce destinations and the emerging plethora of IoT-ready devices now capable of enabling commerce for them. And while these ever-connected consumers also create many new opportunities for issuers and merchants to do business, there is a downside: the more places to engage in commerce, the more consumers start to feel they’ve lost control of where their account information is being
The commerce life of a consumer is becoming more digital by the day, given the proliferation of mobile wallets, eCommerce destinations and the emerging plethora of IoT-ready devices now capable of enabling commerce for them. And while these ever-connected consumers also create many new opportunities for issuers and merchants to do business, there is a downside: the more places to engage in commerce, the more consumers start to feel they’ve lost control of where their account information is being
When it comes to finding the latest, greatest API solution does it help to invite outsiders into the sandbox? As more companies seek to engage in international trade, API-based solutions are being seen as a way to address some of the frictions that arise with cross-border transactions. The May B2B API Tracker™, a collaboration with FI.SPAN, looks at the challenges companies must address when delving into overseas business and how API-based solutions are helping address these issues.
Over the past decade, we’ve seen mobile apps rise to be the go-to item businesses add to their competitive repertoire. With Apple’s App Store and Android’s Play Store becoming major players with developers and businesses looking to expand offerings and make a few extra dollars, mobile apps have appeared to become unstoppable forces.
With so many consortia and internal development teams in play, it’s difficult to assess global banks’ progress on blockchain. But analysts assure progress is being made. Last year, IBM released surveys of 400 financial institutions across the globe to examine exactly how they’re positioned in their journey to develop and release real-world, working blockchain tools.
Xero , the online accounting software company, announced Wednesday (May 10) a partnership with Capital One Financial Corporation to simplify direct bank feeds, credit card data and the bank reconciliation process. In a press release , Xero said the partnership will empower millions of small businesses to make more informed financial decisions. With direct, secure integration through Capital One’s new application programming interface (API), small businesses will be able to connect their Capital
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.
Mswipe Technologies , India’s largest independent POS merchant acquirer and network provider, announced Tuesday (May 9) it has enabled Samsung Pay at all its terminals across the country. In a press release, Mswipe said the partnership with Samsung Electronics will enable contactless/tap-and-pay-on-the-go facility for Samsung Pay users across all two lac Mswipe terminals in the country.
Menlo Ventures , the Silicon Valley venture capital firm, closed a new $450 million venture capital fund aimed at investing in early stage companies focused in the consumer, enterprise and so-called frontier technologies markets. According to a report in TechCrunch , with the new fund, the VC has a total capital of greater than $5 billion under management.
Going forward, BoA has announced it will be working with financial data aggregators to give their customers a greater ability to connect their banking information with third-party financial management applications. According to spokesperson Michelle Moore, the move comes as part of the bank’s API strategy that will see banking data utilizing a unique token that takes things like usernames out of circulation.
The problem with EMV for most consumers and merchants comes down to speed, Visa and Index have learned. The change in hand motion didn’t really throw most customers off that much. Moving from a swipe to dip didn’t turn out to be so very fundamentally different from each other – and consumers learned to deal. Waiting, on the other hand – that quickly turned into a problem for both sides of the transaction.
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.
Though cannabis and its consumption can be a contentious topic, particularly between the U.S. Congress and the sitting attorney general, it is not terribly controversial to note that marijuana and its consumption has gotten much, much more mainstream. As of the most recent surveys, 60 percent of Americans support marijuana legalization. And that support’s breakdown by age cohort might surprise you some.
As of yesterday, First Data has officially agreed to acquire rival payment processor CardConnect for around $750 million. The deal will reportedly be covered mostly in cash — and will include the repayment of CardConnect’s debt. This buy represents First Data’s biggest acquisition since going public in 2015. First Data handles, on average, $2.2 trillion in monetary transactions each year — meaning calling CardConnect a competitor is likely putting too fine a point on it, since the firm processe
The massive wave of crypto-ransomware cyberattacks now reported to have hit more than 200,000 computers in 150 countries shouldn’t be just another “look at how smart and cunning and horrible those cybercriminals are” headline. It should be a call to action to the cybersecurity regulators that, when innovation — even intellectually and technologically sophisticated innovation — goes off the rails, it’s time to give a good hard look with an eye to reining it way, way in.
Refugees are among the most unique groups of people for whom to enable mobile payments and other financial services. Clearly an acute need is there, but modern banking is built upon knowing one’s customers; and when all refugees have are the clothes on their back, cash in their pocket and a mobile phone in their hand, knowing one’s customer becomes an extremely high bar to jump.
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.
Surprise, surprise: a cybersecurity startup saw the largest funding round of the week by far. WannaCry’s explosive impact on the industry has enterprise security on everyone’s mind, and this startup is now a unicorn because of that attention, closing $100 million in Series D financing. Find out which startup landed the cash, along with the other B2B startups that saw their share of investments this week, below.
Corporate payments firm WEX is teaming up with Crawler2api to facilitate transactions within Crawler2api’s real-time API services. Their collaboration , announced Tuesday (May 30), will see Crawler2api integrating WEX’s payment solutions; Crawler2api already facilitates transactions that work with the custom APIs it builds. Integrating with WEX means further automation of those transactions, the companies explained.
Until very recently, the tenor of the relationship between financial services startups and mainstream banking was contentious at best and adversarial at worst. The primary narrative about the future of financial services contributed to a majority of that — the banks were the old way of doing things and up-starts with streamlined business models were threatening to disrupt them right out of the water.
Credit card fraud is a fact that will likely continue to plague retailers for the foreseeable future. It’s on the rise in the eCommerce arena, according to data released from omnichannel commerce technology and operations company Radial’s eCommerce Fraud Technology Lab. In Q1 of this year, there was a 200 percent increase in credit card testing, up from 2016.
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 corporate payments — that is, money changing hands between firms — collecting on receivables can be a challenge. Perhaps a rule of thumb can be: the longer the supply chain, the longer the wait for payments. In an interview with PYMNTS’ Karen Webster, Jeff Althaus, executive vice president and general manager at Flywire stated that “if you look at the payables side of the equation, it is much, much easier to send money” than to collect it.
For financial institutions investing in application program interface (API) solutions to help customers gain access to new services, it pays to open up the sandbox to others. Several major banks, including Citi and Standard Chartered, recently launched their own APIs to help their various clients access each banks’ financial toolsets to address their individual needs.
On Monday, and for the first time ever, bitcoin was worth over $1,400. While the day’s high was $1,422.22 according to CoinDesk , trading at the time of writing was closer $1,413, up 4.88 percent for the day, up 42 percent from the start of 2017 and up a whopping 215 percent from this time last year. If there’s any probable cause for the rise, it’s likely that the SEC recently announced plans to review l ast month’s rejection of the proposed Winklevoss Bitcoin ETF.
It’s been more than a year since Bangladesh’s central bank was attacked by cybercriminals that took away $81 million by infiltrating the bank’s connection to the SWIFT network. Since then, there have been revelations about similar attacks at FIs across the globe, and the blame game began, with some fingers pointing to the bank’s own employees , North Korea and SWIFT itself.
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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