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African FinTech Chipper Cash has landed a whale of an investor. Chipper CEO Ham Serunjogi confirmed on Twitter the startup, which got its initial foothold in the market as a peer-to-peer (P2P) payments service, has just wrapped up a $30 million Series B round of venture capital. And among the investors was none other than multibillionaire Amazon Founder and CEO Jeff Bezos, who participated through Bezos Expeditions, his personal venture capital fund.
In this blog we take a closer look at the recently published BARC study “Sound Decisions in Dynamic Times.” What findings and insights can be derived for organizations and is it worthwhile to read it yourself? Let’s find out: Is your organization agile and resilient? In the current times of crisis, these buzzwords common in FP&A and planning turn out to be very important characteristics for companies and it becomes clear how well positioned they actually are.
Asian countries expect to see an average pay raise of 4.3% in 2021, compared with the average of 3.2% increase this year, said ECA International recently. Outside of Asia, the outlook is very different for many nations, including many which are expected to see decreases to real salaries. This includes major economies such as the United States and Saudi Arabia, the firm pointed out.
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.
Real-time payments continue to gain traction around the world. Case in point: Brazil. The country’s banking system is giving an upgrade to its instant payments system. Called PIX , the new payment rails have been in the works for some time and launched last week. It will be fully operational starting Monday (Nov. 16) and has already processed 10 million transactions a day.
Shopify has expanded its payment options for merchants with a new partnership with Alipay , China’s payments app. The deal will unlock “the power of cross-border commerce for Shopify’s merchants,” Shopify said in a press release that called Alipay “Asia's leading digital wallet platform.” The new payment option will ”allow Shopify merchants to seamlessly accept payments through Alipay from more than one billion annual active users in China alone — and, in the future, hundreds of millions more ac
Shopify has expanded its payment options for merchants with a new partnership with Alipay , China’s payments app. The deal will unlock “the power of cross-border commerce for Shopify’s merchants,” Shopify said in a press release that called Alipay “Asia's leading digital wallet platform.” The new payment option will ”allow Shopify merchants to seamlessly accept payments through Alipay from more than one billion annual active users in China alone — and, in the future, hundreds of millions more ac
When it comes to global B2B procurement, nothing is simple. For example, suppose a huge global consumer packaged goods (CPG) conglomerate wants to introduce a new shampoo. To do so it needs new supplies of palm oil, and a new supplier in Indonesia has the right quantity and the right environmental profile. Said CPG company would need to onboard the new supplier, which in the past could be a 90-day process full of you’re your customers (KYC) regulations and other laborious processes.
The rising trend of digitization in commerce and the increased occurrence of card-not-present fraud were not created by the COVID-19 pandemic. Instead, it would be more accurate to note that those macro trend lines were both already on the move quite notably, and then the coronavirus came along and rapidly intensified the situation. That’s one of the takeaways from a recent PYMNTS panel discussion with Visa ’s Director of Global Chip Product Tom Rapkoch , Keyno CEO Robert Steinman and Assistant
Wells Fargo is beefing up its digital payments arsenal with a new service aimed at business customers. The financial services giant on Thursday (Nov. 19) announced in a press release that it is adding a new solution to its WellsOne Virtual Commercial Card , enabling business customers to digitally pay invoices to suppliers and others. To use the tool, customers electronically send payment instructions, which are routed to the WellsOne Virtual Card Payments service, the release stated.
In the accelerated, digital-first world, few things are more complicated than healthcare payments. In fact, even a medical school degree isn’t enough to sort out the different payment accounts, billing statements and various insurance plans. However, chaos invites someone or something than can bring order, and i2c wants to contribute to that effort.
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.
Americans paid off $10 billion in credit card debt in the third quarter (Q3) of 2020, but borrowed more for car and housing loans, according to a report in the Wall Street Journal (WSJ) citing the Federal Reserve Bank of New York. This follows a record $76 billion drop in Q2 credit card debt, as people used COVID-19 stimulus money and pandemic unemployment to pay down financial obligations.
Scooter rental startup Bird is working on a deal with Credit Suisse Group to go public, according to a report from Bloomberg. The company, based in Santa Monica, California, has spoken with some special purpose acquisition companies (SPACs) about acquisition deals, although none have reached any agreements, Bloomberg reported, and some SPACs have expressed inbound interest.
While its imminent death has been long forecast, cash just keeps on living to pay another day. Cash may not be king in the U.S. market anymore, but reports of its demise have often proved to be a bit premature. U.S. consumers’ cash use has declined over the last several years in terms of its share of the overall payments pie, but as consumers spend more, the pie gets bigger, and as people continue to use cash, cash usage continues to grow.
Here’s the scenario. Consumers have cut back on travel, in-person entertainment and restaurant spend. They have paid down their credit cards. Then they will use this newfound spending power to bring a new, vengeful spending strategy to the holiday season because, after all, the American consumer deserves a few gifts after all that they’ve been through this year.
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.
U.S. consumers have been paying down payments on credit cards with the pandemic continuing to hamper spending opportunities, which has led to dramatically falling bank card loans, The Financial Times (FT) reports. According to the report, the total amount of card loans in U.S. banks was $755 billion, down $100 billion from before the pandemic, while balances have drifted lower in three of the last four weeks.
A Citibank senior analyst predicted that bitcoin could reach $318,000 by December 2021 in a report written for Citibank’s institutional clients, according to CoinDesk. Thomas Fitzpatrick’s report was leaked on Twitter Friday (Nov. 13) by user “ClassicMacro,” who noted in a tweet , “there is no edge in guessing targets so far in time with TA. All we know is that price is likely to continue going up.”.
Banks have long worked to anticipate and protect against emerging tactics of cybercriminals. Now, with the pandemic accelerating a move toward digital product acquisition, communication, purchases and money movement, financial institutions (FIs) and their clients need to be even more vigilant. Leslie Ragan manages transaction fraud prevention for Elan Financial Services , a unit of U.S.
Citi and Mastercard are teaming up as network partners for the digital checking and savings account Citi Plex on Google Pay, available for both Android and iOS. . Alpesh Chokshi, head of business development, Citi Global Consumer Bank, said in a statement on Wednesday (Nov. 18) that today’s consumers seek money management that is like their own lives — a fast-moving “integrated experience.”.
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.
Venture capital cash has been flowing this year to companies that plan to buy up sellers on Amazon and help them grow. In particular, such deals have targeted companies in the Fulfillment by Amazon program, in which the eCommerce giant warehouses a company’s products and then takes care of packing, shipping and providing customer service. The latest such deal has Berlin-based SellerX landing 100 million euros ($118 million) of financing, reported Tech.eu.
New entries to PayPal 's enterprise merchant roster include delivery company DoorDash and clothing retailer Gap Inc. , which will now allow customers to use PayPal at checkout, according to a press release. According to the release, PayPal's strategy is working " to create a seamless and simple checkout experience for consumers online by offering customers the flexibility and power to choose how to pay.".
Global payments startup Veem is launching a new business-to-business (B2B) tool to simplify and automate domestic payments, the company announced in a Wednesday (Nov. 18) press release. “Small business owners, financial controllers, and accountants are moving away from paper-based payments and manual processes as the pandemic increases the demand for online payment solutions,” Veem Co-Founder and Chief Executive Officer Marwan Forzley said in the announcement. .
Compared to their direct-to-consumer (D2C) counterparts, the heavy-lifting, hardworking B2B businesses of the world have always been chided for being a few clicks behind when it comes to embracing and investing in payments technology. And while that will probably remain the case for the foreseeable future, Maria Prados , vice president of global eCommerce at Worldpay , tells PYMNTS that the shift to automated, paperless and secure B2B transactions is on the move.
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.
On the same day that COVID-19 cases in the U.S. topped 10 million and hit 50.5 million globally, the world got news that Pfizer and BioNTech had successfully completed Phase 3 trials of a COVID-19 vaccine on 43,000 people — and achieved an astounding 90 percent effectiveness rate. It was a day that medical scientists and epidemiologists had been awaiting for eight long months, marking a significant scientific breakthrough for the virus that hobbled the world.
Like restaurant owners and operators everywhere, restaurateur Chris Campbell of Boston’s Troquet on South has found the past eight months to be full of challenges. He’s increased take-out, retooled delivery and altered his dining room’s seating and layout as a way to adapt to the pandemic’s new requirements. But after watching his private function room sit idle for six months, Campbell figured he had to try something different.
Consumers’ ownership of smartphones has become all but ubiquitous in the U.S. More than three-quarters of Americans carry a smartphone , with average users checking their devices 58 times a day. This overwhelming reliance on smartphones has generated record profits for major telecommunications companies, including AT&T , Sprint and Verizon , with the industry generating $610 billion in revenue in 2019.
Revolut announced Tuesday (Nov. 17) that, in collaboration with TrueLayer, it will expand into Germany. Earlier this year, the European digital bank had taken on Ireland, France and Italy. In a press release, Revolut said the latest expansion would bring open banking to its users in Germany. “With the new feature, German customers can now connect their accounts at Comdirect, Commerzbank, Deutsche Bank, ING-DiBa and Sparkasse with the Revolut app and view all their finances in one place — directl
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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