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NYC Taxi Commission Accused Of $810 Million Fraud

PYMNTS

She’s alleging the city profited by that same amount selling medallions and by collecting a 5% tax on third-party transfers. A taxicab medallion is a numbered plate required to operate a yellow cab. The price of an individual taxi medallion sold at an auction skyrocketed 240 percent from 2004 to 2014, from $283,300 to $965,000.

Fraud 223
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India’s Struggling Yes Bank Sees Share Boost From $1.2B Offer

PYMNTS

Yes Bank is a private-sector bank that mainly operates as a corporate bank, but it also does asset management and retail banking. The Bombay Stock Exchange’s Sensex index also saw record highs, with a rally of more than 40,300 points due to a corporate tax cut and other business-boosting reforms.

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Ant Financial Close To Doubled Its Profit In Fiscal Year 2017

PYMNTS

Ant Financial, the financial arm of Alibaba specializing in wealth management, nearly doubled its profit during its 2017 fiscal year in part because of its mobile payments feature. Ant Financial operates Alipay, the popular mobile payments service in China. Ant Financial is in the process of acquiring MoneyGram in the U.S.

Mobile 115
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The banks serving active duty personnel

Independent Banker

Community banks operate on a majority of the country’s military installations. Community banks comprise more than two-thirds of the 66 banks operating on U.S. Noemi Gallardo and Larry Wilson of First Arkansas Bank and Trust pose in front of a C-130 display plane at Little Rock Air Force Base, where the bank operates a branch.

Arkansas 168
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South Korean Starbucks Accepts Alipay For Tourists

PYMNTS

Owned and operated by Ant Financial Services Group, Alipay is the world’s largest online and mobile payment platform. Starbucks branches are among the most visited places by Chinese travelers in South Korea,” said Danny Chung, general manager of Alipay South Korea. “We China is expected to process $3.29 trillion by 2020.

Mobile 101
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Lessons to apply to business valuations

Abrigo

There was a familiar conversation in 2004-06 where neighbors would find out what a house in the area sold for, peg the supposed value of their house off what their neighbor sold his or hers for and conclude that their house was worth $X. To accurately ascribe a value to a company, a manager must first project cash flows into the future.

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Why Authentication And Real-Time Tracking Are Key To API Security

PYMNTS

The share of B2B transactions conducted via check has fallen 50 percent since 2004 and hit an all-time low of 42 percent last September, for example. B2B payments traditionally involved tedious manual bookkeeping and companies had to ensure they were deposited correctly and accounted for on their taxes.

Security 151