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The holiday season is in full swing. That means opening up wallets and purses at the point of sale, which often means paying with cash … and cash? Well, that means trips to the ATM. For fraudsters, armed with new technologies, the ATM is fertile ground for fraud. In an interview with PYMNTS, David Phister, director of systems security product management at Diebold Nixdorf , said that when it comes to combatting fraud, “holiday seasons are always tough.
Based on the risk-adjusted performance of all three categories of private real estate funds, investors are paying billions in economically unwarranted fees.
Hong Kong dollar jumped as much as 0.13% to 7.7982 per US dollar on Thursday, crossing the 7.8 threshold. The jump might be the result of the year-end regulatory checks on banks that typically sees higher demand for cash, which tighten liquidity. The Hong Kong Monetary Authority said on Thursday that foreign exchange and money markets continue to operate smoothly and that the exchange rate remains stable.
Executives at Home Depot said opioid addiction in the U.S. might be part of the reason for a recent escalation of thefts in its stores, Bloomberg reported on Wednesday (Dec. 11). . An organized band of thieves are swiping merchandise totaling millions and stowing the goods in warehouses, the company said. The thefts — which retailers call shrink — will result in lower operating profit margins in 2020, Home Depot executives told analysts and investors during a meeting.
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.
The interchange fees associated with commercial card acceptance are the latest target of commercial card optimization company Revolution Payments, which announced a new service designed to further reduce that burden on business-to-business (B2B) suppliers. In a press release Wednesday (Dec. 11), Revolution Payments announced its interchange optimization service to help B2B companies reduce interchange fees by optimizing Level 3 data processing.
Though the U.S. continues to take significant steps toward a faster payments ecosystem , the market undoubtedly lags behind others across the world in the path toward real-time payments ubiquity. There are a variety of reasons why this is the case, which stem beyond one of the most common explanations — that the U.S., unlike markets like the U.K. and Europe, lacks the same government push for change, and in some cases, mandatory changes.
Though the U.S. continues to take significant steps toward a faster payments ecosystem , the market undoubtedly lags behind others across the world in the path toward real-time payments ubiquity. There are a variety of reasons why this is the case, which stem beyond one of the most common explanations — that the U.S., unlike markets like the U.K. and Europe, lacks the same government push for change, and in some cases, mandatory changes.
Visa has added a new partner in its quest to simplify, digitize and drive costs down in the global remittances space with its real-time push payments platform Visa Direct. Visa Direct has been used to process 2 billion transactions in 2019, a number it is looking to grow in 2020. Visa Direct was designed to make sending money “as easy as sending a text message,” as opposed to the status quo consumers and small businesses are stuck with around the world: manual, paper-based processes, high fees
The company behind QuickBooks , Intuit , announced it is releasing an expanded suite of online payroll offerings to help small to medium-sized businesses (SMBs) automate payroll and tax filing, according to a press release. The suite has built-in tax penalty protection and helps with access to services like human resources (HR), benefits and compensation for injured workers.
Almost everyone has experienced a quick food run that turned into a 45-minute ordeal, but such delays are bad news for both quick-service restaurants (QSRs) and patrons. Long drive-through lines can overwhelm employees and frustrate customers, occasionally irritating the latter enough that they leave without making purchases. It is no wonder that so many big-name QSRs are turning to the latest digital technologies to tackle this problem. .
When Visa launched a contactless payments pilot with New York’s Mass Transit Authority (MTA) seven months ago, the company started small, and with modest goals. This “public pilot” made contactless payments available on a few train lines, and only at 16 stations, including Grand Central Station and Union Station. A bit of caution was well warranted, as Visa’s Global Head of Contactless Payments Dan Sanford told Karen Webster in a recent discussion, given the massive size of the New York public t
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.
FlexPay, a Montreal-based FinTech company that uses artificial intelligence (AI) and machine learning to aid merchants in recouping revenue lost from falsely declined transactions, has raised $6 million in a funding round, according to a release. The round was led by Impression Ventures, with BMO Capital Partners, Anges Québec and other strategic partners also participating.
Trucking is a major American job sector, as 3.5 million professional truck drivers traverse a collective 400 billion miles annually to power both brick-and-mortar and eCommerce shopping experiences. However, transporting shipments from coast to coast presents a host of challenges. Trips may last for days, and truckers must pay for everything from food and fuel to repairs.
Nike has been awarded a patent by the U.S. Patent Office for the sneaker company’s new blockchain-compatible sneakers, which are called “CryptoKicks,” according to reports. The CryptoKicks will be attached to a system that will use blockchain to attach digital assets to the actual shoes. Nike’s plan is to be able to track the ownership and legitimacy of the item using the blockchain system.
Doconomy and Mastercard are partnering to combat climate change by giving any Mastercard issuer the ability to enable their cardholders to monitor the carbon footprint of their purchases, as announced in a press release on Tuesday (Dec. 10). “Today, the first bank in the U.S. and Nordea in the Nordics announced they will join The Bank of Åland in enabling clients to track and measure their CO2 impact through the Åland Index,” noted the release. “Addressing climate change is bigger than any
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.
The battle against fraudsters in the digital era has evolved into a never-ending arms race. The tools we use to detect, score and prevent fraud — particularly card-not-present fraud in digital transactions — have improved exponentially in the last half-decade. Unfortunately, the more the good guys refine the defensive tools necessary to lock out fraudsters, the more the vast cybercrime ecosystem evolves the offensive tools they use to force their way in.
A new report from Barclays Capital about transportation in New York City says Uber and Lyft can achieve profitability in the future despite their poor initial public offering (IPO) showings this year, according to a report by Bloomberg. . Barclays analysts Jeffrey Meli, Adam Kelleher, Ryan Preclaw and Ross Sandler all said the ride-hailing apps are in a good position to eventually be profitable.
Social media giant Facebook is selling Oculus Medium, its virtual reality sculpting tool, to Adobe , reports revealed on Saturday (Dec. 7). . Oculus Medium is an immersive 3D sculpting tool used in filmmaking and video games. Facebook bought the tech and VR firm for $2 billion in 2014 and launched Medium two years later. The terms of the deal were not shared by either of the companies. .
Yooz , a company that provides a cloud-based purchase-to-pay automation solution for companies, has announced a partnership with Microsoft , according to a press release. The partnership will combine Yooz’s paperless accounts payable technology with the Microsoft Azure cloud system to help companies automate their accounting processes and increase efficiency.
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.
General Motors announced that it is partnering with Korea’s LG Chem to mass-produce battery cells for future battery-electric vehicles. The companies will together invest up to $2.3 billion through a new, equally owned joint venture company, which will establish a battery cell assembly plant on a greenfield manufacturing site in Northeast Ohio.
It’s been said that the holy grail of commerce is data. Even that holy grail has a holy grail — where data is accessible and usable in real time. Payments are becoming increasingly invisible, embedded in the consumer experience offered by merchants. Consumers view payments as part of their experience, regardless of what setting they might be in — whether online or in-store — or what device they may hold.
Tencent’s WeBank , which is a digital bank in China that provides loans to individuals and small businesses, will be the technical infrastructure provider for China’s national blockchain network, according to a report by Coindesk. The blockchain network is called the Blockchain-Based Service Network (BSN), and it uses open consortium chain FISCO BCOS.
The U.S. Securities and Exchange Commission is turning its attention to a lack of transparency within corporates’ investor disclosures as more businesses use supply chain financing. Reports in Bloomberg Tax this week said SEC Corporation Finance Deputy Chief Accountant Lindsay McCord spoke Tuesday (Dec. 10) during the American Institute of CPA’s (AICPA) annual conference, held in Washington D.C.
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.
When it comes to lending — to say nothing of the wider world of payments — innovation and disruption have been on the rise in recent years thanks to digital and mobile technology, along with online marketplace models. That doesn’t mean it’s been easy. So-called peer-to-peer (P2P) lending has certainly faced challenges in certain markets. But in a new PYMNTS interview on Tuesday (Dec. 10), Craig Moore, CEO of business financing platform Beehive , not only made the case for more P2P lending in th
To enable pet owners to feed their dogs snacks sourced from sustainable ingredients, innovators are upcycling products that might go to waste. Shameless Pets, in one case, offers an array of flavors from lobster to egg through its eCommerce website. Co-founder James Bello initially worked at the headquarters of a major retail chain, and then moved to Boston to serve in their innovation group.
Since the rise of M-Pesa in 2007, mobile money wallets have become prevalent across Africa. And while that addition to the market has made many things possible for consumers in formerly cash-locked economies, there has been a persistent problem of limitations for users once they want to transact outside their home environment. Because their mobile money wallets lack a virtual or physical network credential associated with them, in general they can not work with international use cases.
As most people who found themselves in a grocery store during the chaotic pre-Thanksgiving period will probably recall: some days shopping in a store, even for relatively simple things, can be a pretty atrocious experience. Nothing seems to be in the right place, the signs advertise all kinds of sales — even ones that appear to have expired a day or two ago — and figuring out even basic product information seems to be a major uphill climb.
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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