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“It’s better to be a dog in a peaceful time, than to be a human in a chaotic period,” is the literal translation of what has been proffered over the years as English translation of the Chinese saying “May you live in interesting times.”. That, of course depends on who you ask. I recently asked Paul Galant, CEO of Verifone. From his days as CEO of Enterprise Payments at Citi to now CEO of the world’s largest electronic POS technology provider, Galant has seen and lived thru a number of interestin
One year into the shift to chip-enabled cards — for the U.S., that is — Mastercard said on Monday (Sept. 12) that data shows a “ positive impact ” through the technology across stakeholders, including issuing banks, consumers and merchants. In reference to fraud — the very activity that the cards are designed to thwart — Mastercard stated that fraud data shows a 54 percent decrease in counterfeit fraud costs at retailers who have either completed or are close to completing EMV transitions, as me
If recent emerging reports are accurate, the team at Yahoo is about to bring new meaning to the phrase “having a tough morning.” Yahoo is apparently on the verge of reporting a massive data breach of its service — a giant hack that has exposed the data behind hundreds of millions of user accounts. At this point, that is about all that is known on the hack: Several sources close to the situation were not able to say much more about it other than commenting on its scale and the fact th
Apple is about to face opposition from a group of Seoul-based financial technology firms that are gearing up to file a complaint with the Korean Fair Trade Commission. According to a report , the financial technology firms are upset about Apple’s closed policy for the near-field communication functions of its iPhones. The financial technology firms in Korea , which include Hankook NFC, Kona I and Cashbee, and law firm Tech&Law reportedly held a meeting last week to hash out how to respond to
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.
Meet the newest factory worker: the fraudster. In the latest iteration of the Meet The Fraudster Podcast Series, Forter fraud analyst Gilit Saporta takes PYMNTS inside another class of cybercriminals, those known simply as the “factory fraudsters.”. The name conjures up, as Karen Webster noted, rows of workers populating a literal factory floor, with activity humming day in and day out — in this case, on the prowl to lure merchants into fraudulent transactions for goods to be sent, yet no legiti
The retail industry is facing a virtual change: virtual reality. InContext Solutions announced it’s collaborating with Intel to develop new virtual reality (VR) hardware and software for the retail industry. The goal, a combined release said, is to provide the “best-in-class VR solution” and meet the changing needs of the retail ecosystem. VR does seem to be the next, almost futuristic phase of how we view the world.
The retail industry is facing a virtual change: virtual reality. InContext Solutions announced it’s collaborating with Intel to develop new virtual reality (VR) hardware and software for the retail industry. The goal, a combined release said, is to provide the “best-in-class VR solution” and meet the changing needs of the retail ecosystem. VR does seem to be the next, almost futuristic phase of how we view the world.
The Internet of Things (IoT) has its sights set on changing the health care industry as we know it. Figures from PricewaterhouseCoopers estimate that the connected health care market could grow to $61 billion by 2020 — that’s a growth rate of 33 percent annually from current levels. The market for IoT health devices is also expected to see a surge to $14 billion by 2020.
Can the unbanked benefit from bitcoin, or are they merely the experimental subjects of bitcoin adherents, lobbyists and scientists? This week’s Bitcoin Tracker takes a look at the recent bitcoin projects that are in the news and that are targeting the unbanked. Bitso Eyes The Latin Market. The regulatory framework for bitcoin is a mess in Mexico, as it is in most countries, but Bitso, a bitcoin exchange startup, sees a future in Mexico and Latin America.
Nine years after the introduction of the iPhone to the market — and the subsequent great mobile leap forward — the verdict is pretty much in on mobile banking applications: Consumers like it, verging on loving it, and are eager for more of it. This is great news — if one happens to be in charge of digital banking for one of the 20 or so largest banks in the world with massive scale, a huge budget to develop internal technical capacity and the ability to leverage advantageous partnerships with cu
Another day and another security threat for consumers with cards to worry about. Today’s security special comes care of the Secret Service — which is warning banks and ATM firms about the dangers of “periscope” skimmers. The latest and greatest in card stealing tech, the little cybercrime enablers have been found implanted at ATMs in Pennsylvania and Connecticut.
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.
At this point, omnichannel isn’t anything new. Omnichannel is supporting payments across multiple channels, we got it. Though many merchants aren’t there yet (even though consumers are demanding they should be), the concept has become commonplace in today’s digital landscape. But ensuring that consumers are able to pay when they want, how they want and where they want requires more than making sure a transaction goes through.
Remember the days when innovation was developed in-house? With teams in a lab, at banks of computers or with focus groups? OK, that’s not ALL in the past, but these days, technology moves fast, and firms must move even faster to stay on the cusp of change and to keep consumers engaged. The rise of the developer portal has influenced and spurred input from independent software vendors (ISVs).
Checks are a dying payment method, according to the Federal Reserve, except when it comes to rent payments. That may be about to change, however, thanks to full-service payment solutions that can accept credit card, debit card and mobile wallet rent, while rewarding tenants for paying rent on time. According to research from the Fed , the number of paper checks being used dropped by more than 50 percent between 2000 and 2012, as the use of new payment methods, like cards and mobile wallets, more
Internet of Things technology has been credited with saving people time and money in recent years, but potentially helping parents save their baby’s life? Sudden infant death syndrome (SIDS) claimed the lives of about 1,500 babies in 2014, according to the CDC , and is among some of the most serious concerns first-time parents may have for their newborn.
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.
Facebook is trying hard to stamp its ground in the mobile space. In March 2015, Facebook Messenger began accepting payments. This marked the first P2P payments system within a communication platform. Facebook hired Paypal’s David Marcus to lead the charge, and Forbes predicted that Facebook’s revenues from payments would soar. In 2010, Facebook offered Facebook Credits, with which users could buy virtual goods in games, and created a subsidiary to manage the payments.
The payments industry is a fairly large pie, but the way things are currently set up is skewed to favor larger vendors and businesses — a $4 trillion industry in the U.S. alone. Of that $4 trillion pie, the U.S.’s 7.2 million small businesses make up about 26 percent of the overall payments industry but are responsible for 79 percent of its total fees.
Latin America is making big gains in the realm of payments, but Mexico may just be the region’s standout star. The country has gone through its fair share of hardships — drug wars, government corruption and unpunished crimes, to name a few — but the tech ecosystem is defying the odds. In this week’s edition of PYMNTS’ Weekly Tech Center Roundup , we take a trip south of the border to explore the development of Mexico’s tech landscape and how it may actually be producing the next Silicon Valley.
New research from Zscaler highlights an online scam to obtain credit card information from Magento’s eCommerce platform. Over the last three months, hackers have compromised over 400 retail sites that run Magento. The hackers injected malicious JavaScripts into the sites, and users are taken to a fake payment page where their information is stolen after it is entered.
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.
Cyberthieves are getting crafty, focusing on sensitive information by targeting medical devices. The number of instances is rapidly increasing. According to KPMG, over the past two years, 81 percent of health care organizations were the victims of cyberthreats or even had data compromised. The reason this is happening? More health care-related organizations are connecting to the internet for saving and sharing data but have poor cyberthreat monitoring, cybersecurity policies and data access cont
The media has declared chatbots the digital version of the little black dress: a technology staple that every brand must now have and every payment type must now commerce-enable. Technology enthusiasts draw pictures on whiteboards showing bots as the new king of the stack, out-stacking the last great stack — apps, which sit on top of the next-to-last great stack — mobile operating systems, which sit on top of the next-to-next-to-last great stack — the web.
From now until 2020, the global Internet of Things is expected to grow at a CAGR of 36 percent. That’s according to a new report out this week. . While some believe the IoT is still in its infancy, PYMNTS continues to monitor this network through the IoT Tracker , sponsored by Intel, f ocusing on technology integrated into everyday objects and life.
Big news on the cybersecurity front and great news for the cybersecurity industry. New York Governor Andrew Cuomo and the top bank regulator for the state proposed on Tuesday (Sept. 13) that the state be the first to require banks to establish cybersecurity programs. The regulations, if implemented, could cost banks and insurers millions, as banks would be forced to detect and deter incoming cyberattacks to protect consumer data by implementing systems under a chief information security officer.
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.
Startups specializing in blockchain may have their eye on disrupting the $15 billion music industry. According to Forbes , the music industry stands to benefit greatly from the use of blockchain technology. In many cases, musicians have to go through deals with several intermediaries, such as record labels, publishers and distributors, in order to make their music available to the masses.
Regardless of the event, anniversaries serve to remind us of what happened, how far we’ve come and what lies ahead. As the payments industry nears the one-year anniversary of the United States’ transition to EMV, of course, it’s an opportune time to take stock of progress and what remains to be done. High on that list, Jeremy Gumbley, CTO of Creditcall, says is removing the masking tape that now covers the card slots of many of the upgraded EMV terminals that now grace merchant countertops.
Gone are the days when bank robbers wore face masks and carried guns and dynamite to get into safes. Now, all they need is a comfortable chair and a PC. Earlier this year, cybercriminals stole $81 million from the Bangladeshi central bank, and they also stole the trust that the SWIFT global payments network had built with its 11,000 users. Payments networks must constantly find new ways to battle incoming digital threats.
Research and Markets announced on Thursday (Sept. 15) the release of the “ Global NFC Transaction Market 2016–2020 ” report, which found that the NFC transaction market is set to grow at a CAGR of 55.23 percent during the period of 2016 through 2020. Based on in-depth market analysis and inputs from industry experts, Research and Markets said in a press release that the report covers the market landscape and its growth prospects over the coming years.
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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