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The Internal Revenue Service (IRS) is paying $1.7 million to a Virginia company to handle “large cash payments for processing cannabis federal taxes.”. According to Quartz , the U.S. government collected approximately $4.7 billion in taxes last year on nearly $13 billion in revenue from legal cannabis companies. Most of these companies were forced to pay their federal taxes in cash because about 70 percent of all legal cannabis businesses are unbanked.
Kate Moore, chief equity strategist at BlackRock, thinks that the next six months should be a great opportunity for investment managers who can stay focused over the longer term.
Contactless payment company Mobeewave announced the closing of a $16.5 million Series B funding round, led by NewAlpha Asset Management, Mastercard and Forestay Capital. The investment funds will enable the Montreal-based startup to continue to deploy its patented solution in markets around the world, develop new product offerings and expand the company’s head count.
Corporate finance executives seem to be readying for real-time payments, preparing to adopt faster payment capabilities and bracing for changes to their cash flow management strategies as a result. A new report from Deutsche Bank said this industry path is guiding banks and corporates to a new destination: real-time treasury. Driven by a range of factors (including changes to intraday reporting requirements, open banking initiatives, longer clearing windows for real-time gross settlement (RTGS)
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
Opus, the provider of global compliance and risk management solutions, announced Thursday (Nov. 15) the results of the third annual Ponemon Institute’s “Data Risk in the Third-Party Ecosystem” study, which found that 59 percent of companies surveyed said they have experienced a data breach caused by their vendors or third parties. In a press release announcing the results of the survey of more than 1,000 CISOs and other security and risk professionals across the U.S. and U.K., Opus said th
Western Union and FLEETCOR are nearing an agreement to sell WU’s business payments operations to the fleet payments firm, according to reports in PE Hub on Wednesday (Nov. 15). Citing three unnamed sources, reports said Citi is advising on the deal, which could fetch $600 million for the B2B payments operations. Though unconfirmed, the deal would not come entirely as a surprise.
Western Union and FLEETCOR are nearing an agreement to sell WU’s business payments operations to the fleet payments firm, according to reports in PE Hub on Wednesday (Nov. 15). Citing three unnamed sources, reports said Citi is advising on the deal, which could fetch $600 million for the B2B payments operations. Though unconfirmed, the deal would not come entirely as a surprise.
As the U.K. continues its move to adopt the ISO 20022 payments messaging standard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country. In a press release issued last week, the Bank of England said that it, along with Pay.UK, is inviting interested parties to join its Standard Advisory Panel to help guide adoption of the payments messaging standard across the New Payments Architecture (NPA).
In a week of multiple nine-figure venture capital funding rounds, B2B FinTech has proved it plans to end the year on a high note. The star of this week’s roundup is undoubtedly data: Two Robotics Process Automation (RPA) companies focusing on enterprise data analytics and automation landed a combined $565 million, while other high-value rounds were closed in the workspace sharing and asset-based lending markets.
A group of payment players announced Tuesday (Nov. 13) that they created a new organization, dubbed U.S. Faster Payments Council (FPC), aimed at working toward a ubiquitous payment system that enables Americans to safely and securely pay anyone, anywhere and at any time with near-immediate funds availability. In a press release, the group said the mission, structure and focus of the U.S.
Google Cloud has announced a partnership with artificial intelligence and data analytics firm ThoughtSpot to develop cloud analytics solutions for the enterprise. In a press release issued on Tuesday (Nov. 13), Google Cloud said it has certified ThoughtSpot to operate its in-memory calculation engine, Falcon, on the Google Cloud Platform. The company also revealed additional integrations into the Google Cloud Machine Learning Engine.
Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives
Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri
GDPR still has ripple effects, several months after its debut — and the ripple effects extend from Europe to U.S. shores. News came over the weekend that “smart cities” based outside the U.S. may be on the hook for GDPR-related fines if it is found they misuse EU citizens’ data, as reported by the Telegraph. The warning comes from Dr. Jacqui Taylor, who serves as strategic advisor to the U.K. on smart cities.
Amid stricter checks for money laundering, banks are moving away from the international money transfer practice known as correspondent banking. The shift could possibly cause payments to move underground and particularly impact nations that are dependent on remittances, Reuters reported. Even with efforts to stem the decline in correspondent banking, The Financial Stability Board (FSB) noted on Friday (Nov. 16) that the practice still fell in popularity in 2017.
Banks face a new challenge in the open banking age: How do they best use application program interfaces (APIs) to collaborate with FinTech firms and deliver new services to clients? The API economy offers traditional banks several opportunities for innovation. To capitalize on these opportunities, Tom Eck, chief technology officer at IBM , said financial institutions (FIs) must think outside the banker’s box.
CanIDeal has announced that vendors of cannabis-related products can now start listing their merchandise on its eCommerce portal. “While we are only selling THC products in Oregon, any and all non-THC and.3 CBD products can now be listed for sale in every one of the 22 recreational and medical states through our platform. We are thrilled to be able to offer the industry’s first national eCommerce solution for everyone,” Joseph Farruggia, CEO of CanIDeal, said in a press release. “With our
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
It’s a combination of the latest technology and prehistoric human need: the increasing trend of using robots in the grocery industry. It has gained speed in 2018, showing how fulfillment — in many cases, following the lead of Amazon — is relying less on human participation as eCommerce buyers continue to change their shopping habits and expectations.
CIMB , a banking group that operates in countries such as Malaysia, Cambodia and Thailand, has inked a deal with Ripple in order to bring the company’s blockchain technology to its SpeedSend remittance offering, Cryptovest reported. Through the offering, the bank hopes to take on the inefficient, sluggish and costly process for settlements with distributed ledger technology solutions in the ASEAN region.
Nordstrom has suffered a data breach that exposed employee names, Social Security numbers, dates of birth, checking account and routing numbers, salaries and more. According to The Seattle Times , a company spokesperson confirmed that employees received an email notification and apology from Co-president Blake Nordstrom last week regarding the breach.
Veterans Day is Nov.11 in the U.S. — a day set aside each year since 1954 to honor all those who have served in the military. There are roughly 26 million veterans in the U.S. today and, each year, about 1 percent of those eligible for service enlist. First Data CEO Frank Bisignano told Karen Webster that the 1 percent is critical. “[Veterans] are the 1 percent that protect all of our liberties and freedom,” Bisignano told Webster.
The race to dominate AI is no longer about who has the smartest algorithms — it's about who can build and scale faster. Behind every AI breakthrough lies a battle for resources: data centers, compute hardware, power, and telecom infrastructure. And right now, even tech giants are hitting a wall. Our latest white paper reveals the six critical supply chain elements that are increasingly separating AI leaders from the rest.
As the peaks and valleys of blockchain hype continue to rise and fall, more doubt has surfaced over the future of distributed ledger technology, particularly in the area of B2B payments. Dun & Bradstreet recently released a survey that found only about one-quarter of finance executives believe blockchain will emerge as the dominant B2B payments technology by 2028; instead, professionals believe online payments and eChecks will lead the way.
What’s worse than a “maybe”? Warm ice cream, perhaps? Flat soda? Pat Boone singing heavy metal? (Yes, he actually released an album of heavy metal covers in 1997, with hard-edged songs from Metallica and Guns N’ Roses rendered in a jazzy style that is not campy but just bad.). Anyway, when it comes to “maybes” — the absence of certainty, the mushy middle that, in business, can mean revenue loss and flat growth — too many of them can provide openings for fraud.
American Express announced Thursday (Nov. 15) the launch of American Express Go, a new digital service aimed at helping mid-sized and large companies handle business expenses for temporary workers, recruits and employees without corporate cards. In a press release , American Express said American Express Go features a virtual card that can be used online and over the phone, and also the option for the virtual numbers to be printed on a plastic card for in-person payments.
In the connected age, consumers have more ways to interact with retailers than ever before. While brick-and-mortar stores are still popular with shoppers, they are also looking to new channels to buy clothes or their weekly groceries. Simply said, consumers are turning to their mobile devices to make purchases that they might have once made in a brick-and-mortar store.
79% of finance leaders we surveyed say they play a multifaceted role—ensuring financial stability, managing risk, and enabling transformation. In our 2025 Global Finance Leaders Survey, 751 global leaders shared their biggest challenges, top priorities, and outlook for the year ahead. Here’s what you’ll learn in the survey report: An in-depth look at different leadership approaches and what they mean for finance leaders Top challenges facing finance leaders, from data reliability to talent manag
Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest way Instagram wants to appeal to online shoppers, along with fresh data about how fraudsters might attack on Thanksgiving Day. Instacart raises new capital, Berkshire takes a stake in Chase and bitcoin has a bad day. Instagram Rolls Out Three New Ways to Discover Products to Purchase.
An application program interface (API) ecosystem is growing to transform the financial services (FinServ) sector, and small business (SMB) banking won’t be left out of the shift. APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts. In some instances, these systems deploy this data to create a solution that banks haven’t developed themselves, often due to restricted investments in small business product developmen
Open banking initiatives are changing the way banks operate and engage with third parties and partners. However, those are not the only changes the movement is causing — it’s also having an unexpected side effect of pushing banks to reimagine their traditional roles as financial institutions (FIs). Now, several major financial giants are encouraging industry-wide collaborations with the launch of B2B market platforms.
Online lender Social Finance (SoFi) continues to struggle, recording an adjusted loss of around $12 million during the third quarter before interest, taxes, depreciation and amortization. The FinTech company has now recorded losses for the second consecutive quarter. In August, it posted a second quarter loss of about $200 million. According to The Wall Street Journal ( WSJ ), the earnings losses follow an adjusted profit of $56 million in Q3 of 2017.
Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.
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