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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
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.
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.
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.
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.
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.
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.
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.
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.
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
Most of the payments chatter last week focused on FIS’ mega acquisition of Worldpay. The topic of conversation was the inevitable consolidation of the payments sector, as scale becomes critical to optimizing the payments experience and innovating new payments flows. Another piece of Worldpay news broke last week that has as much potential to innovate new payments flows and shape the direction of commerce in the decade of the 20s, now only nine months away.
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.
There are no incumbent banks that are not paying attention to what the challenger banks are doing. What might have been written off even five years ago as a fad for digital financial services companies, or a niche product for a subset of consumers, is now “top of mind” for banks of all sizes, Jim Priestley, chief revenue officer at Feedzai , told PYMNTS in a recent conversation.
The numbers are sobering. Even staggering. When it comes to financial crime, it seems, the bad guys are getting away with financial murder. Consider the fact that, as noted in the most recent AML/KYC Tracker produced as a collaboration between PYMNTS and Trulioo , money laundering is estimated by the United Nations Office on Drugs and Crime to be an $800 million to $2 trillion-per-year problem, equivalent to 2 percent to 5 percent of the global GDP.
It started, arguably, with mass transit , though with many bumps along the way, as the problems are slowly being solved while still bedeviling many cities. But transit will very likely be key – whether that means subways, buses or other, more individual forms of motion, such as rideshares or even scooters. It will certainly involve parking, and then tolls, and then other forms of commerce tied to transportation.
Apple is reportedly blocking its person-to-person credit card payment service unless a user gets a new Apple Card. According to a report in Cult of Mac , as of Tuesday (March 25), you can no longer send a payment to another person using your credit card via Apple Pay Cash unless its the company’s credit card. The report noted users are still able to send payments via a debit card or via bank transfer.
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.
Citi’s Treasury and Trade Solutions , a unit of Citi, announced Tuesday (March 26) it is developing a new business unit that will enable consumers to make digital payments to institutions. In a press release , Citi’s Treasury and Trade Solutions said it’s part of its aim to enable digital commerce for clients and to expand beyond the wholesale payments market.
In 2015, news outlets ran articles about the “ gold mine ” of venture capital investments in the alternative finance sector. The industry indeed proved to be lucrative for FinTechs, with alternative lending often landing at the top of venture capital investment reports with giants like Kabbage , OnDeck and LendingClub securing an early lead in the industry.
ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America (ICBA), announced a new partnership with MK Decision (MK) for its online loan-origination system. In a press release , ICBA Bancard said the partnership with MK Decision streamlines its credit card application process to make it easier for customers when shopping and applying for cards.
Along any avenue of technology, there is hope … and there is hype … and then there is reality. Blockchain has long been in the process of being divorced – operationally as well as conceptually – from its crypto connection. The hope has been that as blockchain moves beyond bitcoin , the decentralized way of moving data, assets and communications would find a wide berth in business.
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.
Close to 1 billion email accounts were leaked by a marketing company in what some researchers are calling the “biggest and most comprehensive email database” breach ever. The Daily Mail reported that personal information from 982 million email accounts included names, gender, dates of birth, employers and even home addresses in the database. The info did not contain passwords or credit card details.
New research from UBS points to the largest spenders on bank technology: JPMorgan and Bank of America. Reports in Business Insider on Thursday (March 28) said UBS has published a report that breaks down U.S. banks’ technology budgets and explores which institutions are spending the most on innovation, using transcripts from conference calls, internal bank data released by the institutions and data from FactSet to reach its conclusions.
The current best-in-class method of payment for a ride on a subway in any American city works just fine – until it doesn’t. Loading funds onto a prepaid card that opens the turnstile once scanned, swiped or inserted works terrifically well – until the customer forgets to check the balance on his transit pass, and finds himself locked out at the turnstile.
Demand for instant and peer-to-peer (P2P) payments is heating up, and financial institutions (FIs) are seeking to cater to that need, knowing that if they don’t, their customers are likely to turn elsewhere. This month’s Faster Payments Tracker explores the latest developments, as FIs and other companies seek to provide or tap into accelerated payment services.
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
“Space: the final frontier. These are the voyages of the Starship Enterprise. Its continuing mission: to explore strange new worlds, to seek out new life and new civilizations, to boldly go where no one has gone before.”. – Gene Roddenberry. If Helen of Troy had a face that launched a thousand ships, then Gene Roddenberry had the pen that launched a thousand ships.
It’s a $2 trillion problem, according to stats, and global in scope. Money laundering is big business and the recovered funds are scant, which begs a solution (a roadmap was offered up for FIs in a recent PYMNTS interview with Zac Cohen , Trulioo general manager). Elsewhere, Mastercard is targeting contactless payments on a mass scale – for mass transit , rolling out across additional cities through the next few years.
Line , the Asian messaging company majority owned by Naver, the South Korean Internet search company, is expanding its business into payments and other FinTech services. In an interview with the The Financial Times , Shin Jung-ho, the founder of the company said Line is expanding into cashless payments and FinTech in an effort to not remain complacent or stagnant.
Globalization and easing barriers to international expansion aren’t simply changing the way corporates manage foreign exchange exposure. For many firms, these trends are forcing the introduction of an FX strategy on a company for the very first time, and when corporate treasurers aren’t prepared, they can run into complications beyond the cost of currency exchange.
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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