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Western Union ’s stock price was down in after hours trading, after missing on earnings but lodging a narrow beat on revenue. Adjusted earnings per share (EPS) came in at $0.45 per share, missing analyst consensus estimates of $0.48 per share. This compares to earnings of $0.46 per share a year ago. Net income of $614.8 million, or $1.42 a share, in the second quarter, compared with $217.6 million, or 47 cents a share, a year earlier.
There has been a lot of talk about changing FP&A processes yet little real action in this area. Budgeting? How many do zero-based budgeting or pure beyond budgeting? Most are stuck doing the traditional one-year budget and five-year plan. Analysis? Wishful thinking. Are you doing what-if scenarios or Monte Carlo simulations or simply just plotting your data in a time series into a graph and showing it to your stakeholders?
A former Amazon systems engineer working for Capital One is said to be the woman behind a breach that accessed the data of over 100 million people. Software engineer Paige Thompson, 33, allegedly boasted about the hack and left crumbs for investigators to follow, The New York Times reported. Thompson formerly worked for Amazon Web Services, which hosted the Capital One database that was breached.
This week, the world was presented with a truly unusual retail mystery: The Case of the Inexplicable In-N-Out Burger. The story starts at 6:30 a.m. EST on July 20 in Jamaica, Queens, when Lincoln Boehm and his wife were heading to McDonald’s. By all accounts, it was a very normal trip, which included one extremely unusual feature: a single In-N-Out burger, wrapped and in photo-ready condition, lying in the middle of Sutphin Boulevard.
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.
Global payments revenues are at an all-time high, and experts predict that they could even climb to be a $2 trillion industry by 2020. Cross-border payment revenues currently account for approximately $200 billion, a significant slice of the payments pie. Currently, there are 0.7 international transactions per capita every year, up from 0.5 in 2014.
To combat fraud — especially phishing — united we stand? The advent of mobile and app-based channels to lure victims to send money to fraudsters has been on the rise, with email and text-based communications the weapons of choice. As noted in the latest Digital Fraud Tracker , phishing attacks are up 76 percent this year compared to last year. Verizon has estimated that 30 percent of phishing messages are opened by their intended targets.
To combat fraud — especially phishing — united we stand? The advent of mobile and app-based channels to lure victims to send money to fraudsters has been on the rise, with email and text-based communications the weapons of choice. As noted in the latest Digital Fraud Tracker , phishing attacks are up 76 percent this year compared to last year. Verizon has estimated that 30 percent of phishing messages are opened by their intended targets.
Jack Ma ’s MYbank is aiming to change the way China lends to small businesses. The 4-year-old bank uses real-time payments data and a risk-management system that analyzes more than 3,000 variables to allow borrowers to apply for a loan on a smartphone and receive cash almost instantly if approved. The whole process takes three minutes. So far MYbank has lent 2 trillion yuan ($290 billion) to nearly 16 million small companies, with a default rate of only about 1 percent.
MoneyGram International posted results that missed top-line expectations, but beat at the bottom as restructuring efforts continued amid weakness within the company’s domestic money transfer business but growth in international corridors. In terms of headline numbers, adjusted earnings of 12 cents a share beat the Street by a nickel. Revenues of $323.8 million were down 13.6 percent year on year and missed the consensus by roughly $20.5 million.
The common view about Africa – once found in recent PYMNTS coverage – is that the vast, varied and massively populated continent represents the next frontier for eCommerce. The middle-class and disposable incomes are growing in many African countries. Although consumers are still without formal access to traditional financial services, a growing number of them are closely tied to their mobiles phones, and all the commerce and payments opportunities offered by those devices.
Visa and Billtrust are announcing a major new user for their Business Payments Network (BPN) as of today (July 31). JPMorgan has announced it will use the service to streamline the delivery of electronic B2B payments for its commercial card clients. Launched jointly last November by Visa and Billtrust, the BPN is an open buyer/supplier payments platform created, according to Billtrust CEO Flint Lane, as a “better highway to drive their payments on.
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.
Even in 2019, there persists this idea in the mainstream that invention stems from the epiphany and late-night toil of the solitary scientist. The image stems from about two or three centuries ago, when medieval superstitions were being seriously challenged by empirical thought, and the view has been reinforced countless times — even into the early 21st century if you look hard enough — by books, movies, TV shows and other methods of cultural communication.
A company called Glint Pay has launched a debit card that’s backed by gold instead of currency, according to a report in The Denver Post. The company is London-based, and its U.S. office is in Boulder, Colorado. The card was released in the U.S. on Monday (July 29). Glint Pay was started by entrepreneur Jason Cozens. “We want gold to be considered like any other currency,” Cozens said.
FinTech startup Flutterwave is teaming up with Alipay to offer digital payments between Alipay and African merchants. Founded in Nigeria, Flutterwave is a a payments API that makes it easier for banks and businesses to process payments across Africa. “We’ve managed to connect African countries…to each other, so it was about time we connected Africa to the world.
Global payment services firm Western Union is teaming with Canadian financial institution TD to offer a fast, convenient way for TD account-holders to send money around the world. Western Union said in a press release on Thursday (Aug. 1) that customers of one of Canada’s largest financial institutions can now send money cross-border from their personal TD Canada Trust accounts.
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.
American Express has announced that it plans to acquire acompay, a digital payment automation platform, from ACOM Solutions. Acompay, which helps business customers make supplier payments, manage business spending, and improve cash flow, “will be the newest addition to a series of B2B payment collaborations, strengthening our accounts payable automation capabilities and equipping our customers with the tools they need to improve the way they process and settle supplier payments,” Anna Marr
Mastercard is collaborating with Bahrain’s Electronic Network for Financial Transactions ( BENEFIT ) to develop a blockchain-powered B2B payments solution, according to a press release Tuesday (July 30). Together, the firms are developing a platform to enable faster, more secure cross-border corporate payments that would allow companies to more seamlessly move funds to beneficiaries and banks to directly share payment data with each other without the need for intermediaries.
In the art and science of reaching a consumer, some things never change. The gold standard of marketing is, was and ever shall be the same: Put the right product in front of the right consumer at the right time. Though much has changed in how that is done, that basic tenant remains the same. “Digital has created a really interesting opportunity to engage the customer throughout their journey and make it possible to use the services that will help them have a better experience all around,” Franci
In a move that enhances its global technology position serving merchants, banks and capital markets, FIS closed its acquisition of global payments firm Worldpay, Inc. The combined company will have over 55,000 employees and more than $12 billion in pro forma revenue, according to an announcement. FIS Chairman, President and CEO Gary Norcross said in the announcement, “This is an exciting day for FIS and Worldpay , and for the industry as a whole.
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.
There are all kinds of skin care startups on the market that promise to deliver some kind of epidermal miracle, particularly on one’s face. Sometimes the secret is in the ingredient list, such as collagen that will fill in the wrinkles. Other times the magic is in the routine — K Beauty regimens, for example, aren’t just about using the right products, but using a long list of the right product in the right order multiple times a day.
Not having enough money can be a very expensive — a genuine problem for the more than two-thirds of all American workers who report living paycheck to paycheck. Having a simple bank checking account costs an average a monthly maintenance fee of $13.58 or $163 a year. ATM fees, on the other hand, average around $4.66. Average overdraft fees are at $32.53, a slight decline year-on-year between 2017 and 2018, but still objectively high — and, statistically, more likely to affect low-income earners
Payments messaging firm SWIFT has released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. A press release issued Wednesday (July 31) said ISO 20022 has the potential to promote efficiency in the correspondent banking community and modernize cross-border transactions.
In a recently reported data breach, Poshmark said it recently learned that an unauthorized third party acquired data from some users. The fashion marketplace company said the information does not include physical addresses or financial data, according to a web post. The company said in the post, “We take the trust you have placed in us extremely seriously, and since learning of this incident, we’ve expanded our security measures even further.
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
The Financial Conduct Authority (FCA) has issued updated guidance on the U.K.’s cryptocurrency market. The Block reported that the comprehensive overview is expected to follow FCA’s draft proposals released at the beginning of the year, which explained that “any token that is not a security token, or an eMoney token is unregulated.” That means that trading cryptos like bitcoin and ether only need to follow KYC rules and will not be under FCA scrutiny.
The big deal is now complete: Fiserv announced this morning (July 29) that it has completed its acquisition of First Data Corporation. The two massive firms first inked the deal earlier this year, which will see Fiserv purchase First Data for $22 billion in an all-stock transaction. At the time the transaction was announced, the companies said users would benefit from a “highly complementary combination” that offers a range of payments and financial services, spanning account processing and di
In corporate payments, the term “silo” is synonymous with “headache.” The complexities of business transactions not only mean various financial functions, from accounts payable to payroll, are stuck in their own silos — it can often mean more silos within those disparate systems. It’s a challenge that is quickly becoming unacceptable for chief financial officers and corporate treasurers demanding real-time, holistic visibility into company cash positions and activities.
FinTech dLocal , which specializes in cross-border payments for emerging markets, has announced its expanded its payments network to include Indonesia, Ecuador and Bolivia. The company now supports more than 300 local payment methods in 15 emerging market countries, including the top five emerging markets in the world by population: Brazil, China, India, Indonesia and Mexico.
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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