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Federal Bank in India has partnered with blockchain payments company Ripple to facilitate cross-border payments, according to reports. Federal Bank confirmed the collaboration in an announcement to the Bombay Stock Exchange on Thursday (March 28). “ This is to inform Federal Bank has entered into a partnership with Ripple Inc, a blockchain supported global remittance company, for cross border remittance through its network, ” the announcement said. “ Powered by blockchain-enabled solution, the R
True to his Dr. Doom moniker, Nouriel Roubini believes that vulnerabilities in the system are currently hidden and will emerge when the next economic downturn occurs.
Ditch the plastic? Maybe, but not yet — and maybe not for a while. The world knows by now that Apple has debuted its credit card — the Apple Card — in conjunction with Goldman Sachs and Mastercard. The card is available in both virtual and tangible, plastic forms. The broad outline is one where the digital version of the card can be used wherever Apple Pay is accepted.
Is there a right way and wrong way to innovate? For banks interested in transforming their brick-and-mortar branches, maybe, according to Diebold Nixdorf Senior Director of Advisory Services Chris Gill. Gill asserts that most financial institutions, left to their own devices, may end up following a less than optimal path to innovation, and not because they have selected the “wrong” technology solution, since in Gill’s experience, what’s “wrong” for one FI might be right for another.
Document-heavy workflows slow down productivity, bury institutional knowledge, and drain resources. But with the right AI implementation, these inefficiencies become opportunities for transformation. So how do you identify where to start and how to succeed? Learn how to develop a clear, practical roadmap for leveraging AI to streamline processes, automate knowledge work, and unlock real operational gains.
Fidelity Information Services ( FIS ), a global financial services technology company, announced Monday (March 18) it is merging with Worldpay , the global eCommerce and payments company, in a roughly $35 billion dollar deal. In a press release , FIS said the deal expands its capabilities by enhancing its acquiring and payment offerings. For Worldpay, it expands its distribution footprint and accelerates its entrance into new regions.
Pharmacies and the delivery of prescription medication are both undergoing significant change, and much of the credit for that can be directly or indirectly attributed to the rise of eCommerce and digital payments. The latest development? The deployment in South Africa of what some observers are calling ATMs for medicine. A recent report from the Financial Times offers one of the better descriptions of the project, meant to ease certain pressures on the South African healthcare system and provid
Pharmacies and the delivery of prescription medication are both undergoing significant change, and much of the credit for that can be directly or indirectly attributed to the rise of eCommerce and digital payments. The latest development? The deployment in South Africa of what some observers are calling ATMs for medicine. A recent report from the Financial Times offers one of the better descriptions of the project, meant to ease certain pressures on the South African healthcare system and provid
Amazon Pay is a well-established payment method across online commerce — and not only because it’s the home payment method of the largest, most successful eCommerce platform in the U.S. Amazon Pay also has a rich and full existence outside of its website, as scores of merchants around the world and web have made Amazon Pay available as a payment method.
To help keep the prices of food and drinks low, the Mercedes-Benz Stadium in Atlanta is about to become cashless. Only credit cards, debit cards and mobile payments will be accepted at the venue beginning on March 10, Bloomberg reported. With the change, the costs of working with cash, such as reconciliation and physical cash drawers, are said to be removed.
Instant payments — and the ability to push funds immediately across the debit rails to consumer bank accounts — has entered something of a renaissance. The demand is there: According to the latest edition of the PYMNTS Disbursements Tracker , 75 percent of consumers expressed a preference for faster payments, and 84 percent of those consumers reported debit cards as their preferred way of receiving those funds.
Is there a hotter topic — a buzzier buzzword, one might term it — than cashless? Ours is swiftly becoming the age of digital payments, push payments and instant payments, done by bits and bytes rather than through the conduits of coins and bills. The stats show that cash use is declining, but a decline does not presage a disappearance. In the latest PYMNTS Beyond the Buzzword podcast, Justin Ferrabee, chief operating officer of Payments Canada , a financial market infrastructure, told Karen Webs
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.
Sephora, the beauty retailer, announced on Thursday (March 14) the launch of a new credit card program. The company said in a press release that starting in the spring, it will offer the Sephora credit card, Sephora Visa® credit card and Sephora Visa Signature® credit card to its retail customers. The credit cards will provide customers with more ways to earn rewards for their purchases, the retailer said in the release.
Facebook , Telegram and Signal are looking to launch their own cryptocurrencies that will allow users to send money internationally on their messaging systems. Citing various sources with knowledge on the matter, The New York Time s reported that Facebook is currently working on a coin that users of its WhatsApp could instantly send to friends and family.
Square has released a new app called Square Invoices to help businesses design, manage and send invoices from anywhere, the company announced on Tuesday (March 26). The app works in real time and lets users handle all facets of their business from their mobile devices. “The way we do business is changing; not everyone works from an office, and small businesses need the flexibility to handle core processes like invoicing on the go,” said Alyssa Henry, seller lead at Square.
Lawmakers in Philadelphia have passed a ban on cashless stores, making it the first major city in the U.S. to do so, according to a report by The Wall Street Journal. The new law will take effect in July and would require most retail outlets to accept physical currency. New Jersey recently passed a similar law and New York City is on the path to doing so as well.
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.
Instagram has launched a checkout feature designed to help the social media platform become a more attractive place for consumers to buy retail products, and to capture more sales via what is coming to be known as contextual commerce. The launch of Checkout by Instagram includes participation by PayPal and its retail partnership program , signaling its further expansion into eCommerce payments.
Singapore-based FinTech startup InstaReM , which enables banks and consumers to send money across borders , announced a partnership with First Data to assist businesses that issue corporate credit cards. The partnership will combine InstaReM’s digital payments and remittance solution with First Data’s debit processing solution for businesses like corporates and FinTech firms that need to issue cards to employees, vendors or consumers.
Digital banking customers of today aren’t looking for the bank with the newest features — they’re looking for the bank that can keep their data safe. Any security mishap can send customers to one of the other digital banking apps that are ready and waiting for them. In the new Digital Banking Tracker , PYMNTS examines the ways digital banking is changing as security measures grow more stringent, and challenger banks look to amass more customers.
Uber, the ride-hailing startup, is reportedly gearing up to make a $3 billion bid for Careem Networks , the Dubai-based ride-hailing company. According to a report in Reuters , citing sources familiar with the deal, Uber could make the offer during the early part of the week. Uber is offering $1.4 billion in cash and $1.7 billion in convertible notes, which can be converted to Uber shares at a price of $55 per share.
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.
Approximately 20 billion IoT-enabled devices will be connected by 2020. These items are fast, handle an increasingly large amount of personal and financial data and tend to be prone to cybercriminals’ attacks. A large-scale, IoT-based breach has yet to occur, but the seeds are already sprouting. Thus, IoT security is becoming an essential part of modern conversations.
Innovation has always been important for community banks, but the driving force of digitization over the last decade has greatly sped up the pace, said Kevin Tweddle, chief innovation officer for the Independent Community Bankers of America ( ICBA ). That push, he noted, hasn’t come from within the financial services industry proper, but primarily from the so-called “GAFA group” of Google, Amazon, Facebook and Apple — and the many ways they’ve made doing business simpler and smoother for consume
And so a tech giant gets into the credit card game. And not just any tech giant – it’s Apple, the company whose payment services were touted (by at least some) as a credit card killer. News came Monday (March 25) that Apple – specifically, through its payments service Apple Pay – has launched the Apple Card. As reported, the company said users sign up for the card through their iPhone, can get approval through the device and can begin using the card immediately.
The gig economy has changed — and is still changing — when we work, how we work and, of course, how we get paid. Readers of this space may recall some stats at the end of last year, where the PYMNTS Gig Economy Index found that as many as one-third of workers in the U.S. have participated in the gig economy — and 85 percent would do more work if they were paid faster.
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
Global payments and receivables company Flywire enjoyed strong growth in 2018 that it plans to carry into this coming year and over $10 billion in total payments volume. Some of the company’s achievements last year included raising $100 million in new funding, expanding its presence in Asia-Pacific and EMEA and making significant gains in both regions.
“Connect the dots” is used as a metaphor for describing how a series of discrete events can explain a “big picture” – often high-impact – action or outcome. Steve Jobs, in his very famous 2005 Stanford commencement address , said connecting the dots was only possible with hindsight, by looking in the rearview window at the series of things that had happened over the course of one’s life to explain the actions of the here and now.
Ant Financial Services Group and Jiangsu-based Hoperun Information Technology announced Wednesday (March 7) a new banking product aimed at financial institutions. In a press release , the companies said the new banking product dubbed Distributed Core Banking Platform (DCBP) helps financial firms move their business models to customer-oriented models and away from transaction-oriented models.
To help meet customer expectations in the digital age, retailers have to know who their shoppers are and what they want. While eTailers already have this information about consumers, brick-and-mortar retailers don’t have this in-depth knowledge. New digital innovations, however, provide the promise of offering valuable customer data to merchants. Smart vending solutions are becoming more popular and offer merchants new opportunities for insights, according to the latest PYMNTS Unattended Retail
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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