Sat.Oct 13, 2018 - Fri.Oct 19, 2018

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Mastercard Will No Longer Require Signatures On Cards, Receipts

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Mastercard, the payments company, announced on Thursday (Oct. 18) that cardholder signatures will now be optional for the back of credit cards and receipts. In a press release , Mastercard said it is making the changes due to advancements in technology and security. “With modern, advanced forms of authentication now available, removing the requirement for signature capture at the point of sale and now signature panels on Mastercard cards is an important step in support of our digital evolution,”

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Visa Accelerates Tokenization Of Credentials On File For Digital Payments

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Visa announced today the commercial expansion of its Visa Token Service for “credential-on-file token requestors.” This expansion involves adding 20 acquirer gateway and technology partners as token requestors — including the likes of PayPal, Worldpay and Adyen — who can now, or soon will be able to, tokenize credential-on-file digital payments for their merchant and payment clients.

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A Look Inside Switzerland’s Plans To Bank Crypto Businesses

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The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. However, Swiss officials recently took steps to get ahead of the regulatory uncertainty surrounding the world of blockchain, focusing on a particularly large hurdle for companies in the industry. In July, reports in the Financial Times said Switzerland is working to open the nation’s traditional corporate banking market to cryptocurrency companies finding it difficult

Banking 85
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North Korean Hacking Group Lazarus Takes In $571M

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Internet hackers have pilfered $882 million of digital currency from crypto exchanges since last year, but one group in particular has netted roughly half that amount: Group-IB noted in a report that a North Korean hacking group, Lazarus, has taken $571 million through an analysis of 14 different attacks, The Next Web reported. In general, hackers turn to methods such as social engineering, malware and spear phishing to target digital currency exchanges.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

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.

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How Much Of The Consumer’s Paycheck Goes To Amazon?

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In 2009, consumers first coined the term “Whole Paycheck” as a tongue-in-cheek way to describe the sticker shock many felt when looking at their receipts after a shopping trip to Whole Foods. Whole Foods is, of course, the organic grocery chain that Amazon bought for $13.7 billion in June 2017. In 2018, the term can now be more legitimately used to define the portion of consumer spend and overall retail sales Amazon now captures given the expansion of its ecosystem.

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Venmo Raises Rate For Instant Transfers

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Venmo , the digital payment unit of PayPal , has raised the fee for instant transfers when moving money from their account to a traditional bank account, according to reports. Reports citing an email Venmo sent to users late last week said the fee is going up to one percent of the transferred amount, with the payment company taking a $0.25 fee at the minimum.

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Nationwide Study: SMB Owners Lax About IoT Security Risk

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For smaller firms, the IoT has its lures and its dangers. The Nationwide fourth annual business owner survey released at the end of last month, which surveyed 1,000 small and mid-sized business owners about their views on cybersecurity, found that an overwhelming majority – 91 percent – use connected technology. But 48 percent of those surveyed are “unconcerned” that devices – ranging from sensors to drones and used across any number of verticals – may boost their likelihood of cyberattacks.

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Citi, HSBC Join Bank Group In Global Trade Finance Effort

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Citi , HSBC and Banco Santander are among seven major global banks that are banding together to form a cross-border trade finance network, Reuters reported Thursday (Oct. 17). Along with ANZ , BNP Paribas , Standard Chartered and Deutsche Bank , the financial institutions (FIs) have signed a Memorandum of Understanding (MOU) to make trade finance more affordable and efficient for trading companies.

Finance 76
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SEC Warns Cos To Prioritize Cybersecurity

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The U.S. Securities and Exchange Commission (SEC) has issued a stern warning to public companies: tighten cybersecurity controls or risk being in violation of federal law. The regulator issued a report based on the SEC Enforcement Division’s investigations of nine public companies that lost millions of dollars as the result of cyber fraud. The companies, which each had securities listed on a national stock exchange, were in sectors including technology, machinery, real estate, energy, financial,

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

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.

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To Fight Fake IDs And Online Fraud, Know Thy Enemy Better

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To really beat someone, or something, one must respect and understand that person or organization, even if they dislike or loathe them. That’s ancient wisdom — “know thy enemy” — that not only applies to martial situations, but to the biggest challenges in life. OK, enough of the generalities. Payment and commerce fraudsters are becoming terrifyingly sophisticated.

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Tipalti On Automating The Yin And Yang Of B2B Payments

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Call it the yin and yang of B2B payments — inseparable and contradictory opposites. Buyers want to hang onto payables, saving cash in the till until the very last minute. Suppliers, of course, want to collect on receivables outstanding, getting cash into accounts for goods and services provided. Across it all lies the friction of accounts payable (AP) and payment management workflow, rendered inefficient by paper-based processes.

B2B 75
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Singapore Eyes ‘Bringing Together’ Banks And FinTech Firms

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In the coexisting — and sometimes colliding — worlds of FinTech and traditional financial services, a bit of collaboration often evolves. At times, that collaboration even moves with a bit of regulatory underpinning. So, it is in far-flung corners of the globe where, in recent days, regulators and cross-border efforts have promoted a bit of cross-pollination between tech-savvy upstarts and more entrenched players in the financial arena.

Banking 75
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Christie’s Brings Blockchain To The World Of Art

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While much has been said and written about the blockchain in recent years – good and bad – generally speaking, few have ever really considered it as an artistic venture. In the sense that anything ingenious is a work of art, one could say that distributed ledger is an art all on its own – but that would be a bit of a stretch. But though technology and art by nature seem to be fundamentally different things with different purposes, sometimes they can come together in unexpected ways.

Sales 75
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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

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.

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Barclays Rivals Goldman’s Marcus With Digital Bank

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Barclays is ready to offer U.S. consumers a low-cost, digital-only bank that will directly compete with Goldman Sachs ‘s Marcus brand. Barry Rodrigues, CEO of cards and payments at Barclaycard International, told Financial Times that the new offering would “leverage Barclays’ U.K. knowledge and expertise” to create a checking account for its U.S. online bank, which already offers credit cards, savings and loans to 13 million customers.

Banking 75
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HSBC Enhances Business Banking With API Suite

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HSBC is rolling out a suite of application programming interfaces (APIs) to support FinTech collaboration and enhance its corporate financial service offerings. In a press release Monday (Oct. 15), HSBC U.S. Commercial Banking announced plans to roll out its Digital Partner Platform, a portal on which third parties, including FinTech firms, can collaborate with HSBC and access a set of APIs.

Banking 74
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Two US Senators Call On India To Relax Data Rules

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U.S. Senators John Cornyn and Mark Warner, co-chairs of the Senate India caucus, sent a letter to India’s Prime Minister Narendra Modi urging him to soften his stance on rules that require customer data to be stored locally. Reuters , citing the letter, reported the Senators urged Modi to have a lighter touch in the customer data storage regulatory framework so that data can flow freely across borders.

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Number Of Chinese P2P Lenders To Drop Dramatically

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The number of peer-to-peer lenders in China is projected to decline greatly to around 50 from more than 1,500 during the course of the next year. The Financial Times , citing Greg Gibb — chief executive of Lufax, one of the biggest peer-to-peer lenders in China — reported that regulators are gearing up to issue licenses during the next year to companies that meet very strict criteria.

Numbers 74
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Bringing AI to Finance: How to Leverage Technology for Efficiency and Control

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.

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Worldpay Finds Contactless Payments Surpass Chip, Pin Card Purchases

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Worldpay, the payment technology company, announced Tuesday (Oct. 16) that for the first time, contactless payments have become more popular than chip and pin card purchases when paying in-store in the U.K. The Guardian reported that Worldpay said it was the first time it has seen contactless payments surpass chip and pin. The change occurred in June, when 51 percent of in-store card transactions were contactless.

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Noncash Payment Fraud Values On The Rise Since 2012

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Fraudulent noncash payment values have increased by a lot in the U.S. between 2012 and 2015, surpassing growth in noncash payments, the Federal Reserve found. According to data from the Federal Reserve Payments study, it found the value of noncash fraud jumped 37 percent to $8.3 billion in 2015 from $6.1 billion in 2012. During the same period, the Federal Reserve found the total value of noncash payments increased to $180.3 trillion from $161.2 trillion.

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Tapping Into The Digital Economy With Restaurant Innovations

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In a bid to serve customers through digital channels, quick-service restaurants (QSRs) are rolling out new innovations. These technologies bring more options for consumers to order and pay for their meals, such as kiosks and mobile ordering. In one new approach, some QSRs are offering delivery beyond the home and office. In April, Domino’s Pizza announced that Domino’s Hotspots would allow customers to receive deliveries in spaces such as parks, sports fields or beaches.

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Mastercard Rounds Out SMB Services In India With Zoho

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Small business (SMB) cloud solutions provider Zoho is reportedly teaming up with Mastercard in India to provide holistic accounts receivable solutions. A press release from Mastercard, issued Monday (Oct. 15), said the companies will promote acceptance of digital payments for India’s 73 million SMBs through their “ SME in a box ” solution.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

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.

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Accenture Debuts Blockchain Procurement Solution In Thailand

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Business services conglomerate Accenture is expanding its blockchain solution offerings with the development of a procurement platform launched in Thailand. The company announced this week that it collaborated with Thai FinTech firm Digital Ventures, a subsidiary of Siam Commercial Bank, to create a blockchain-powered solution that facilitates the buying and selling of goods for businesses and their vendors.

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The Tale Of Two Malls In A Post-Anchor World

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It’s a tale of two malls: With closings of large anchor stores on the horizon, some mall owners would welcome the opportunity to find more profitable tenants. Other mall owners, however, find the loss of anchor stores to be a challenge. Either way, the news that Sears has filed for bankruptcy has brought to light the difference between malls – and how their owners may view the loss of a large anchor tenant differently.

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TRENDING: Is Sharing Cybercrime Data Key To Fighting Fraud?

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In search of added convenience and simplicity, banking customers are migrating to online and mobile banking interfaces, leaving in-person visits to brick-and-mortar branches behind. While this switch in preference to digital banking is providing new tools and capabilities to consumers, it’s also presenting new opportunities for fraudsters — and they’re not hesitating to take advantage.

Banking 71
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AFP ‘Troubled’ Over Corporate Treasurers’ Lack Of FinTech Adoption

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Corporate treasurers have said they’re interested in a slew of cutting-edge FinTech solutions that experts believe will disrupt financial business management. Yet, a new report from the Association for Financial Professionals (AFP) warned of only minuscule adoption of these tools so far, a trend that analysts described as “troubling.” In its 2018 AFP Technology Survey , underwritten by corporate treasury management firm BELLIN , the AFP surveyed 708 corporate finance executives

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

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.