PYMNTS

JANUARY 22, 2021

The latest surge of COVID-19 infections is pushing the Eurozone into a second recession, squashing hopes for a near-term rebound of the global economy. IHS Markit said its Purchasing Managers Index for the region, which measures manufacturing and service sector activity, slid to 47.5 in January from 49.1 in December, with a reading below 50 considered a decline in activity.

Data 169

Data Maine Regional Survey 169

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JANUARY 22, 2021

Chinese eSports provider VSPN has raised $60 million in a Series B+ funding round to help it expand its operations overseas. Investors in the latest financing included Prospect Avenue Capital, Guiotai Junan International, and Nan Fung Group. Lighthouse Capital served as the exclusive financial adviser. Shanghai-based VSPN said it plans to spend the cash largely on investing in innovative eSports production technologies, creating new products and expanding its reach overseas.

Nevada 180

Nevada Capital New York Groups 180

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JANUARY 22, 2021

Today in B2B payments, TripActions announces new funding that values the T&E startup at $5 billion, while OneSource Virtual launches invoice payment capabilities. Plus, iBanFirst launches B2B payment traceability tool, Georges rebrands with new funding, and HashCash partners with a bank on blockchain payments. OneSource Virtual Rolls Out Invoice Pay For Vendor Payments.

Payments 165

Payments blockchain Software Tools 165

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NOVEMBER 2, 2020

Score one sizable victory for human workers at the world’s largest brick-and-mortar retailer. Walmart has ended its contract with a company that provided six-foot-tall robots designed to keep track of inventory on the retailer’s shelves, The Wall Street Journal reports. The decision ends a five-year partnership with Bossa Nova Robotics , which had placed robots in about 500 of Walmart’s 4,700 stores, according to the WSJ citing sources familiar with the situation.

Retail 203

Retail Conference Report Online 203

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NOVEMBER 2, 2020

With new lockdown restrictions due to COVID-19 imminent, the U.K.’s Financial Conduct Authority (FCA) has extended loan holidays for those who still can't pay off loans or make mortgage payments due to the pandemic's economic effects, a pair of press releases stated. The FCA said the relief on payments for things like personal loans; credit cards; motor finance; rent to own; buy now, pay later; pawnbroking; and high-cost, short-term credit will be extended for six months for people to apply.

Payments 175

Payments Regulation Cards 175

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NOVEMBER 2, 2020

The top stories today in retail include merchants in the U.K. are getting ready for another national lockdown as coronavirus cases continue to rise in that nation. While in the U.S., the mall companies, Philadelphia-based PREIT and Tennessee-based CBL & Associates both announced they would be filing for Chapter 11. UK Businesses Brace For More Hard Times As Pandemic Triggers New Lockdown.

Branding 151

Branding Philadelphia Retail Tennessee 151

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NOVEMBER 2, 2020

The Cayman Islands’ Ministry of Financial Services introduced the nation’s regulatory framework for virtual asset service providers (VASPs) on Saturday (Oct. 31), according to a press release. The framework consists of two phases, the first, which began on Oct. 31, focuses on anti-money laundering (AML) practices and countering financing terrorism (CFT).

Bitcoin 160

Bitcoin Policies Groups cryptocurrency 160

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NOVEMBER 2, 2020

Snack food giant Mondel?z International reported on Monday (Nov. 2) as part of its third quarter earnings results that net revenues grew by 4.9 percent, fueled by 4.4 percent in organic net revenue growth. The company cited good sales of its cookies and chocolates amid the pandemic but said gum sales lagged. “We are very encouraged by our performance in the third quarter,” Chairman and CEO Dirk Van de Put said on a call with analysts.

Report 141

Report Regional Branding Marketing 141

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NOVEMBER 2, 2020

Palette Software has connected its accounts payable (AP) automation cloud technology with Aptean ERP , according to a Monday (Nov. 2) announcement. Enterprise business software firm Aptean offers targeted enterprise resource planning (ERP), compliance and supply chain management solutions to firms throughout the globe, according to the announcement.

Software 142

Software Resources America Compliance 142

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NOVEMBER 2, 2020

Everlink Payment Services is teaming with workflow solutions provider FINTAINIUM to offer B2B and B2C payments in real time, leveraging the ISO 20022 global standard, according to a press release. As digital payments continue to reshape the field, particularly because of the pandemic, the partnership sees a solution using Everlink's eHub Digital Payments Platform integrated to help with real-time payments powered by FINTAINIUM.

Payments 160

Payments Software Strategy Groups 160

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NOVEMBER 2, 2020

In years to come, it’ll be hard to find anything as studied and surveyed as COVID-19’s effects on commerce. And while most predictions are at best informed speculation, certain aspects of life have undeniably kept their appointment with destiny as a result of this pandemic. Topping that list is digital-first living, which went from some promising pilots to a set of hard deliverables in about four months.

Study 205

Study Cards Payments Innovation 205

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NOVEMBER 2, 2020

A slew of top executives at the $100 billion SoftBank Vision Fund have recently hit the exits. The fund’s chief operating officer, a partner who headed up investor relations, an operating partner and two investing partners have all left the investment operation, Bloomberg reports. The spate of departures at the fund – which made a name for itself backing Uber Technologies, the Chinese ride-hailing company DiDi Chuxing and struggling office-share giant WeWork – comes amid reports of disenchantmen

Operations 144

Operations Groups Software Report 144

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NOVEMBER 2, 2020

Seems like the rebound has legs. To that end, the latest data from the Institute of Supply Management (ISM) showed on Monday (Nov. 2) that the U.S. manufacturing sector continued a rebound that has stretched through the past six months, with the latest showing in October underpinned in part by consumer demand, which in turn translated into continued production of consumers goods.

Maine 204

Maine Management Report Data 204

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NOVEMBER 2, 2020

The 2020 holiday season could be a record-breaker for Amazon and Apple , both of which stand to report over $100 billion in revenue for the fourth quarter if predictions go right, according to Bloomberg. Bloomberg reported that the watershed moment for the stock market would also underscore exactly how much of the market the two tech giants corner. In results last week, Amazon predicted revenue forecasts of $112 billion to $121 billion for the period ending in December.

Apple 175

Apple Report Meeting Marketing 175

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SEPTEMBER 24, 2020

BNY Mellon unveiled a collaboration to assist customers with supervising and investing funds by letting them access GTreasury ’s payment and cash management functions, according to a Thursday (Sept. 24) announcement. The financial institution’s customers will be able to have an expanded understanding of their cash balances and more effective use of them with the relationship, according to the announcement.

Management 100

Management Tools Payments 100

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SEPTEMBER 24, 2020

Google has rolled out a new student loan repayment program, the tech giant announced in a blog post. In 2021, Google will begin matching student loans up to $2,500 per year, which the company says will help them pay off their loans faster and also use money for other things, "whether it’s purchasing a new home, starting a family, or investing in a 401(k)," according to the blog.

Google 157

Google Report Company Payments 157

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SEPTEMBER 24, 2020

To help certified public accountant (CPA) firms advising small- to medium-sized businesses ( SMBs ) on Paycheck Protection Program (PPP) forgiveness and additional financing choices, the American Institute of Certified Public Accountants (AICPA) along with its CPA.com division and Biz2Credit said in an announcement that they are rolling out the CPALoanPortal.com platform.

Lending 123

Lending Resources Tools Technology 123

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SEPTEMBER 24, 2020

The economic fallout of the coronavirus, now six months in, has continued to hit lower-income Americans the hardest, according to a new Pew Research Center report. The labor market has recovered since, and the stock market losses from early on in the pandemic have bounced back. But for many Americans, even paying their normal bills is still a struggle, the report says, with about one in four adults having trouble.

Survey 133

Survey Community Meeting Marketing 133

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SEPTEMBER 24, 2020

Retail sales have seen very modest year-over-year gains since June, but many brick-and-mortar operations continue to suffer amid the pandemic. PJ SOLOMON , the New York global investment financial services company, and the National Retail Federation (NRF), the world’s largest retail trade association, announced on Thursday (Sept. 24) that they are working together to address overdue rents.

Retail 111

Retail Survey New York California 111

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SEPTEMBER 24, 2020

Source-to-Pay Software as a Service (SaaS) provider Aavenir announced an update for its Invoiceflow application, which will now speed up automatic invoicing even more, a press release says. The new features for Invoiceflow will accelerate invoice processing by 10 times, reduce the processing cost by 80 percent and improve the data accuracy drastically as compared to the manual process, the release says.

Tools 108

Tools Data User Experience Taxes 108

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SEPTEMBER 24, 2020

Sensibill , which provides SKU-level data and financial tools for companies, has launched Receipt Extraction API , a machine learning (ML)-based solution that automates and streamlines the transcription of receipts. According to a press release , the service will help businesses deepen engagement and engender customer loyalty. Receipt Extraction API, the release stated, is powered by multi-brain processing and leverages multiple optical charter recognition (OCR) engines and ML in order to delive

Tools 181

Tools Metro Data Software 181

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SEPTEMBER 24, 2020

There were the things everyone expected to see at Amazon ’s hardware event on Thursday (Sept. 24), like new Echo devices and Fire TV upgrades. And then there were the things no one was expecting that showed up anyway, like a flying drone designed to robotically monitor a home’s security. Amazon became the latest Big Tech player to roll out its slate of pre-holiday shopping offerings, with the new hardware pulling double duty on buzz building.

System 140

System Security Video Apple 140

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SEPTEMBER 24, 2020

The Digital Commodity Exchange Act of 2020, which was proposed by a U.S. representative Thursday (Sept. 24), could put digital currency exchanges under one national structure, CoinDesk reported. U.S. Representative Michael Conaway of Texas, who is the House Committee on Agriculture’s ranking member, put forward the legislation. The bill aims to ascribe a federal meaning to “digital commodity exchanges.

National 121

National Report Taxes Bitcoin 121

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SEPTEMBER 24, 2020

Small- to medium-sized businesses (SMBs) are reporting difficulty with the forgiveness aspect of the Paycheck Protection Program (PPP) as that feature opens up, according to CNBC. The rules behind forgiveness for the PPP loans dictate that if an SMB used the money correctly, with 60 percent going toward payroll and 40 percent to other allowable expenses, the SMB won't have to pay back the loan.

Guidelines 137

Guidelines Policies Report Groups 137

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AUGUST 9, 2020

Prepear , a small company spun off from parent Super Healthy Kids and focused on meal planning and grocery lists, is under legal attack from Apple for an alleged similarity in the company’s logos, a news report says. Super Healthy Kids posted about the issue on Twitter , saying Apple “ has decided to oppose and go after our small business @prepearapp trademark saying our Pear logo is too close to their Apple and supposedly hurts their brand.”.

Apple 152

Apple Google Company Report 152

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AUGUST 9, 2020

A Singapore businessman faces charges of falsifying documents that showed more than 100 million euros ($118 million) in three accounts held on behalf of Wirecard AG, The Wall Street Journal (WSJ) reported. R. Shanmugaratnam, 54, the owner of Citadelle Corporate Services, a corporate management services company at the heart of an investigation, is the first person outside of Wirecard to be linked to the suspected fraud at the disgraced German payments company.

Fraud 265

Fraud Report Groups Company 265

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AUGUST 9, 2020

Despite President Donald Trump’s executive order to ban TikTok effective Sept. 15, the Chinese app is not going down without a fight. The popular video-sharing platform will file a federal lawsuit in the U.S. District Court for the Southern District of California, where TikTok’s American operations are based, as soon as Tuesday (Aug. 11), National Public Radio (NPR) reported, citing a source.

Report 164

Report US social media Video 164

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AUGUST 9, 2020

Neel Kashkari , president of the Federal Reserve Bank of Minneapolis and Dr. Michael Osterholm , director of the Center for Infectious Disease Research and Policy at the University of Minnesota , said the defeat of the coronavirus will require sacrifice but will save thousands of lives. In a New York Times opinion piece published Friday (Aug. 7), they wrote the choice is clear.

Minneapolis 166

Minneapolis Minnesota National New York 166

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AUGUST 9, 2020

A $765 million loan agreement between Eastman Kodak and the government to provide pharmaceutical ingredients has been put on hold due to questions about Kodak’s recent securities transactions. Reuters reported that the transactions had sparked questions of a very serious nature from senior Democratic leaders, and the U.S. International Development Finance Corp.

Company 189

Company Report Security Lending 189

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AUGUST 9, 2020

A plan by India to regulate what it terms “non-personal” data has roiled the executives of Big Tech companies like Amazon , Facebook and Google and advocates for freedom and competition in business, Reuters reported. A panel was appointed by the Indian government last month to regulate data that doesn’t contain personal details and yet is crucial to letting companies do business, according to Reuters.

Data 168

Data US Washington Regulation 168

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AUGUST 9, 2020

CHAMPS Group Purchasing is partnering with Procurement Partners , which works in procure-to-pay (P2P) solutions, to provide a new service for suppliers, a press release says. The service will “drive the efficiency of purchasing, invoicing and auditing for both members and suppliers of CHAMPS GPO,” the release says. Procurement Partners’ services work to implement flexible proprietary software to help manage every kind of software development, integration, implementation and support all on

Groups 146

Groups Compliance Software Community 146

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AUGUST 9, 2020

South Korean highways could see blockchain-based toll booths before the end of the year, according to a report from Crypto News. KEB Hana Bank , one of the largest banks in the country, is going to work with the Korea Expressway Corporation on blockchain-based services. With KEB’s smartphone banking app Hana One Q, the partnership will aim to allow drivers to choose to defer toll payments, pay in a lump sum or receive refunds.

blockchain 224

blockchain Bitcoin New York cryptocurrency 224

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AUGUST 9, 2020

Weeks of failed negotiations on pandemic-related aid has led to House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin , representing two sides of the debate on how further stimulus packages should proceed, agreeing to attempt a compromise. A report from Reuters chronicles the past few days — an effort to issue a fifth coronavirus package fell apart on Friday (Aug. 7), and that led to President Donald Trump taking it upon himself to issue several executive actions, addressing things lik

Taxes 272

Taxes Meeting Report Innovation 272

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AUGUST 9, 2020

Not everyone favors the Federal Reserve Board’s launch of its settlement service designed to eliminate the three-day check clearing and support instant payments in the U.S. In response to the Fed’s notice seeking comments on FedNow, the central bank’s initiative that promises to fuel 24/7 payments, the board received nearly 2,600 responses from a variety of stakeholders.

System 181

System Payments Operations Fraud 181

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JUNE 29, 2020

In an effort to keep credit flowing amid uncertain economic conditions, FICO has unveiled its FICO Resilience Index. The tool is meant to complement the FICO Score and allow lenders to take into account an individual’s resiliency as they arrive at credit decisions, according to an announcement. FICO said lenders will many times contend with economic uncertainty by increasing credit score cut-offs.

Tools 130

Tools Management Data 130

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JUNE 29, 2020

Lululemon has entered into an agreement to buy in-home fitness company MIRROR for $500 million, according to a Monday (June 29) press release. MIRROR, launched in 2018, specializes in interactive classes and features live and on-demand services. The company has seen an upshot in growth since then, with demand increasing steadily. The MIRROR device, when turned off, looks like a normal mirror.

Training 197

Training Customer Experience Community Company 197

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JUNE 29, 2020

The U.S. Department of Labor (DOL) said the nation’s unemployment rate was 13.3 percent in May, but a closer look shows that the number is actually more than three times as large. CNBC reports that nearly half of the population is jobless. The employment-population ratio, the number of employed people as a percentage of the U.S. adult population, was 53 percent last month, meaning 47 percent of Americans are without a job, according to the Bureau of Labor Statistics (BLS).

Report 183

Report US Analysis Survey 183