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Mobile commerce might just be the key to saving brick-and-mortar stores. Consumers use their smartphones to shop for everything, everywhere – including using them to help them shop in-store. What’s more, consumers who use their smartphones while shopping in-store visit them more often than consumers who don’t. As much as 81.5 percent of consumers who do say they visit brick-and-mortar shops every day or every week.
ESTABLISHING STRUCTURE AND GAINING CONTROL THROUGH TWO LEADING CLOUD-BASED SYSTEMS: DEAR INVENTORY AND XERO ACCOUNTING Business type: Manufacturing Industry: Spirits Size: 1 0+ employees, 3 locations Distribution: South Africa - 90 + Outlets Region: South Africa Integrations: Dear, Xero Customers since: June 2017 Website: www.musgravegin.co.za Musgrave is an artisanal gin and spirits brand founded by Simon Musgrave.
Kaspersky Lab, a cybersecurity and anti-virus company, has reported a rise in a specific malware intended to steal money and credentials from people’s bank accounts. The company found 29,841 files of the malware in Q1 of 2019, which is up from 18,501 in Q4. Attacks on upwards of 300,000 users were detected. Kaspersky Lab released its IT threat evolution in its Q1 2019 report.
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.
Rumors of the death of cash – as in complete extinction – are greatly exaggerated. Even as digital payments gain ground, cash still remains part of the payments landscape – and its place may be permanent. A new report from Square underscores the resiliency of bills and coins. That comes even as, Square estimates, the percentage of U.S. consumers using cash for purchases below the $20 threshold dipped from 46 percent to 37 percent.
For Sir Tim Berners-Lee, the man credited with inventing and giving away the World Wide Web protocol that shaped the internet as we know it today, the web at its best has always been about being decentralized. “The decision to make the Web an open system was necessary for it to be universal. You can’t propose that something be a universal space and at the same time keep control of it,” Berners-Lee famously noted in 1998.
For Sir Tim Berners-Lee, the man credited with inventing and giving away the World Wide Web protocol that shaped the internet as we know it today, the web at its best has always been about being decentralized. “The decision to make the Web an open system was necessary for it to be universal. You can’t propose that something be a universal space and at the same time keep control of it,” Berners-Lee famously noted in 1998.
Mastercard and Interac, the global and domestic payment networks, announced Wednesday (May 22) they are collaborating to offer customers in Canada a fast and easy way to send money internationally. In a press release , the companies said Interac is using Mastercard Send, a push-payments service to send money cross-border, on the Interac eTransfer platform.
The B2B space is ripe for transformation, where outdated payment processes mark accounts payable (AP), and where technology can make all the difference as corporates choose their banking partners to satisfy their payment needs. To that end, Jessica Moran, general manager of Paymode-X Business Solutions at Bottomline Technologies , noted the continued (and accelerating) collaboration between banks and FinTech firms.
Payment company Allied Wallet and its owner, Ahmad Khawaja, as well as two officers, Mohammad Diab and Amy Rountree, have settled with the Federal Trade Commission (FTC) over allegations of knowingly processing fraudulent transactions related to scams, the FTC reported on Tuesday (May 21). Allied Wallet was accused of processing payments for firms that were known by law enforcement agencies as fraudulent, such as Stark Law, a debt collection scheme; TelexFree, a pyramid scheme; and MOBE and Digi
A new service launched Wednesday (May 22) called Plaid Direct enables “two-way connectivity across the financial ecosystem and makes it easier for consumers to move money between their accounts — whether it’s in a neobank, FinTech, or big box bank account,” according to a statement from Plaid. In a blog post , the company said it now offers a “lightweight integration specification that allows banks and FinTech applications to quickly and easily become a data source in the Plaid network.
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.
There is no “i” in team — every coach’s mantra. Guess what, though? That’s only half the story when it comes to the concept of working together for the greater good. As it turns out, “payments is a team sport,” at least in the view of Manish Kohli, global head of payments and receivables at Citi. In a recent PYMNTS discussion with Karen Webster, Kohli dug deep into how financial institutions (FIs), FinTech firms and others need to find ways to work together to advance the cause of digital paymen
Intelligence of Things (IoT) devices are continuing to gain popularity. By some estimates, more than 14 billion devices are expected to be in use by the end of the year. However, with this growth comes the increased risk of data breaches and fraud. It has also raised concerns among privacy advocates and security experts, with many warning against the dangers of weak security protocols and constant vigilance.
Target notched an impressive beat when it reported its Q2 earnings earlier this morning (May 22), with earnings and sales both clearing analyst predictions. Net income clocked in at $795 million, or $1.53 per share. That is a beat on results at this time last year, when Target reported earnings of $718 million, or $1.33 a share, a year ago, well ahead of analyst estimates of an EPS of $1.43.
New York’s Department of Financial Services seized Municipal Credit Union , New York’s oldest credit union, on Friday (May 17), saying it is facing “unsafe and unsound” conditions. The move comes after its ex-Chief Executive Officer Kam Wong pleaded guilty to embezzling funds, reported Reuters. According to the report, the former CEO pleaded guilty in November to embezzling millions of dollars from the credit union.
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.
Mobile commerce has become part of the daily routine for many consumers — who are not just using devices to shop on the go, but also in-store and for a variety of product categories. In the 2019 edition of the Remote Payments Study , PYMNTS collected and analyzed survey data from 2,300 American consumers to see how shopping habits have changed and evolved from last year.
Commuters in Portland, Oregon and Vancouver, Washington can now add a digital Hop Fastpass card to their iPhone or Apple Watch, thanks to an alliance between Mastercard and Apple. Mastercard announced Tuesday (May 21) that using Mastercard token services, commuters can add a card purchased through the Hop Fastpass App to Apple Wallet and tap their iPhone or Apple Watch to get on board public transportation.
The first time is a charm. In fact, the first time must be a charm. No, we are not talking about first dates or so-called “meet cutes” in movies. We are talking about consumer acceptance of contactless payments in the U.S. – specifically, the use of such payments for mass transit in New York City. It’s an unforgiving environment where people are famously told not to look too long at other riders, so you can imagine the frustrations in store if those payments should fail while someone is trying t
Vending machines, increasingly, are ditching the dollar bills in favor of payments rendered in bits and bytes. Kiosks are increasingly becoming part of the retail landscape. As reported in the latest Unattended Retail Tracker , done in partnership between PYMNTS and WorldNet Payments, unattended retail is gaining traction worldwide, on the heels of growth in consumer demand and as employers look to increase their operating profits.
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.
The New York City taxicab industry has been suffering, with a series of suicides plaguing taxi drivers over the past year as they struggle with debt and financial strife. While New York City has long blamed Uber and Lyft for the industry’s woes, a New York Times investigation found the fault lies with industry leaders. An investigation by The New York Times shows industry leaders artificially drove up the price of taxi medallions.
The old adage is that a journey of 1,000 miles begins with a first step. In banking, the customer journey, of course, begins with the first steps involved in setting up a relationship — offering up names, addresses, Social Security numbers (SSNs) and a wealth of other data to set up accounts. However, that’s a process that needs to keep up with the times.
Clinc, the AI startup, has raised $52 million in venture funding in a Series B round of venture funding. VentureBeat , citing the company, reported the $52 million was more than eight times its Series A raise in February of 2017, when it raised $6.3 million in funding. The Series B round was led by Insight Partners and included participation from DFJ Growth and existing investors Drive Capital and Hyde Park Venture Partners.
Large U.S. banks are seeing a deterioration in commercial lending portfolios for the first time in three years, according to a report by the Financial Times. The news is making some investors worried about whether it’s the start of a trend, considering the relatively strong state of the economy. Ten of the biggest commercial lenders saw non-performing loans rise 20 percent in Q1, or about $1.6 billion.
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.
The number of ATMs installed during 2018 declined by 1 percent on a worldwide basis, found RBR, the research firm. In a press release , RBR said the number of ATMs stood at 3.24 million at the end of 2018 and that the decline was due to branch closures and growing popularity of mobile payments. In RBR’s new Global ATM Market and Forecasts to 2024 report, it found the number of ATMs declined in four of the five largest markets last year.
NCR, the payments company that makes self-service kiosks, point-of-sale terminals and automated teller machines, among other payment devices, has reportedly tapped Bank of America Equities to find a buyer. Seeking Alpha , citing a DealReporter story, reported that Warburg Pincus has been in discussions with NCR during the past few weeks about a deal.
WeChat Pay and Alipay, the Chinese digital payment apps, have been banned in Nepal due to a loss of income as a result of the services, per the government’s claims. Reuters , citing Laxmi Prapanna Niroula, a spokesman for the Nepal Rastra Bank, reported that the two digital payment services are not registered with the central bank in Nepal and are therefore illegal.
Baoshang Bank, based in Inner Mongolia, will be taken over by China’s banking and insurance regulator over critical credit risks, according to a report by Reuters. The takeover starts on Friday (May 24) and will last a year, both the Insurance Regulatory Commission (CBIRC) and the People’s Bank of China (PBOC) said on their respective websites. Takeovers of banks are rare in China, and this is the first one in almost 20 years.
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