PYMNTS

OCTOBER 21, 2020

Volante Technologies, which works in cloud payment processing and messaging, has landed a big new client, Grupo Financiero Banorte. Volante says it will be working with the Mexican bank, one of the world’s largest, to modernize its cross-border payments architecture. Banorte will connect “all related systems, including channels” to Volante’s VolPay , which will help the bank orchestrate and process cross-border transactions while also “accelerating the bank’s digital strategy,” Volante said in

System 140

System Payments Digital Strategies Capital 140

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OCTOBER 21, 2020

The deal for Uber's €1 billion-plus offer to buy Daimler/BMW's Free Now is up in the air due to BMW’s hesitation, according to a Wednesday (Oct. 21) report in the German monthly business magazine Manager Magazin, per Reuters. . Daimler is reportedly ready to sign, but Oliver Zipse, chief executive officer of BMW, has indicated that he would rather sell Uber just a stake in Free Now, the magazine said.

Mobile 156

Mobile Operations Tools Report 156

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OCTOBER 21, 2020

Akron, Ohio-based RVshare has landed more than $100 million in a fundraising round led by global investment firm KKR , with participation by existing investor Tritium Partners. RVshare’s goal is to rapidly build up the RV rental industry, noted a press release. The company said the new funding will “provide capital, as well as access to KKR’s operational resources and global network.

Ohio 150

Ohio Capital Resources America 150

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OCTOBER 21, 2020

Uber is weighing contingency plans that could dramatically shrink its California operations should a ballot campaign aimed at revoking a controversial state labor law fall short on Election Day. Speaking at The Wall Street Journal’s annual Tech Live confab, Uber Chief Executive Dara Khosrowshahi dropped some ominous hints that a major overhaul – and downsizing – of its business in California may be in the cards should the company and its allies fail in their drive to repeal Assembly Bill 5, or A

California 191

California Conference Operations Report 191

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OCTOBER 21, 2020

PayPal has announced that it is jumping into the wild world of cryptocurrency , making it possible for wallet holders to buy, sell and hold cryptocurrencies like bitcoin, ethereum, bitcoin cash and litecoin in their PayPal accounts. And starting in 2021, they will be able to spend their crypto caches with any of the 26 million merchants currently accepting PayPal.

cryptocurrency 329

cryptocurrency Bitcoin blockchain Payments 329

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OCTOBER 21, 2020

In today’s top news, J. P. Morgan launches a no-fee instant payment option for small and medium-sized businesses (SMBs) and Visa expands Tap To Phone to 15 countries. Plus, Amazon introduces free one-hour grocery pickup at Whole Foods. JPMorgan Takes On Square And PayPal At The Point Of Sale. J.P. Morgan Chase is launching no-fee instant payments for SMBs with QuickAccept to edge out FinTech rivals Square and PayPal.

Payments 130

Payments United States Apple Google 130

PYMNTS

OCTOBER 21, 2020

When it comes to upstart rival Nextdoor , Facebook appears to be engaging in some not-so-neighborly behavior. The social media giant has begun testing a new feature in Canada, dubbed Neighborhoods, that would steal a page from Nextdoor’s playbook and allow users to link up through community-based groups, according to engadget. The pilot program was spotted by Matt Navarra, a social media consultant.

Community 200

Community social media United States Capital 200

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OCTOBER 21, 2020

Swedish peer-to-peer (P2P) lending startup Lendify has secured $115 million in funding from Insight Investment, according to a Bloomberg report on Wednesday (Oct. 21). Last year Insight Investment supported the digital lender with a 1.5 billion kronor infusion. Past investors have also included Hakan Roos, Martin Gren, Richard Goransso. Lendify Co-Founder John-Christian de Champs also assisted with funding.

Lending 258

Lending Customer Experience US Capital 258

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OCTOBER 21, 2020

Decentralized international trade platform Contour has teamed with information technology (IT) solutions provider Mphasis to speed up the digital transformation of global trade finance, according to a Wednesday (Oct. 21) announcement. Mphasis will harness its Front2Back TM Transformation approach and its next-generation IT in addition to operations functions to help speed up the installation and use of the Contour network through a collection of businesses, financial institutions (FIs) and partn

blockchain 298

blockchain Technology Capital Payments 298

PYMNTS

OCTOBER 21, 2020

Social-Commerce-as-a-Service app PowerBuy has rolled out its Multi Product PowerBuy group buying functionality, which is now available via the Shopify app store. Retailers on Shopify can now add social group purchasing to their eCommerce storefronts, according to a Wednesday (Oct. 21) announcement. PowerBuy lets retailers provide promotions on merchandise after a minimum number of purchasers have joined the promotion, inspiring those who join to decrease the price by distributing the deal.

social media 140

social media New York Software Retail 140

PYMNTS

OCTOBER 21, 2020

The reCommerce trend continues to gain momentum. eBay announced on Wednesday (Oct. 21) that it is launching a new destination for electronics products to feature Certified Refurbished products, not from its sellers but from brands like De'Longhi, Dirt Devil, Hoover, Makita, Philips and Razer, which will sell exclusively on the eBay platform. The program is operable immediately.

Branding 192

Branding Samsung Meeting Millennials 192

PYMNTS

OCTOBER 21, 2020

"With so many of us working from home, the ability to monitor and approve spend becomes far more difficult," says David Wood, Conferma Pay's director of hotel products. "When so much is changing so fast, it’s essential to know that you have the master controls on as many moving pieces as possible." Wood shares his thoughts on how the pandemic is forcing us to pay attention to lingering problems more urgently than ever before.

Payments 166

Payments US Mobile Cards 166

PYMNTS

OCTOBER 21, 2020

The world celebrated a milestone of sorts yesterday, as Apple Pay marked its sixth anniversary. The world is obviously a very different and much more digital place than it was in October 2014, and capturing customers requires new strategies and an eye toward building scale. But as potent as the progress has been, the pace hasn’t always been even by region or by institution when it comes to jumping the digital divide.

Payments 150

Payments Regional Apple Strategy 150

PYMNTS

OCTOBER 21, 2020

Like so many categories during the pandemic, the toy business has been a two-sided coin. On one side are the manufacturers and retailers that are waiting for the licensed products that drive the big sales. These are the Disneys and other big budget movie producers that make the action figures and games that reflect the pop culture that has moved from the movie theater to the home or even to the slush pile of 2021 release dates.

Nebraska 142

Nebraska social media Retail Marketing 142

PYMNTS

OCTOBER 21, 2020

In today’s top news in digital-first banking, Interra signed a multi-year deal with Lumin, while Australia’s Westpac Group is teaming with buy now, pay later (BNPL) company Afterpay on banking services. Plus, Brazil’s government is reportedly intending to roll out an initial public offering (IPO) for a digital division of Caixa Econômica Federal. Lumin, Interra Credit Union Team on CU's Digital Banking Solution.

Groups 148

Groups Digital Banking Capital Report 148

PYMNTS

OCTOBER 21, 2020

As the Coupa team has shifted to working from home during the pandemic, they have adapted their processes to an operating model tailored toward optimizing remote work. "While our financials remain extremely strong, from a revenue and receivables perspective, we’ve introduced additional steps in evaluating the financial health of our customers and prospects," says Coupa's Chief Accounting Officer Tony Tiscornia.

Meeting 159

Meeting Operations US System 159

PYMNTS

OCTOBER 21, 2020

For SMBs, what’s in the cards … are more card readers. To that end, the banking giant J.P. Morgan is focused on enabling payments for the millions of small businesses that are the lifeblood of Main Streets across the U.S. – and, by extension, the U.S. economy. As reported this week, J.P. Morgan is bringing payments to the point of sale (POS), with an eye on making inroads into a landscape dominated by firms such as PayPal and Square.

Marketing 306

Marketing Maine Cards Payments 306

PYMNTS

OCTOBER 21, 2020

In today’s top payments news around the world, Visa is expanding its touch-free Tap To Phone (TTP) systems, while the hotel industry in China is registering year-over-year revenue growth. Plus, artificial intelligence (AI)-powered food carts have begun providing lunch to office workers in Beijing. Visa Expands Tap To Phone To 15 Countries. Visa announced that it is expanding its touch-free Tap To Phone (TTP) payment systems to over 15 markets throughout the globe, with intentions to bring the mo

Payments 138

Payments Apple America System 138

PYMNTS

OCTOBER 21, 2020

California-based spend management platform Coupa has launched a Diverse Business Directory to make it easier for companies, particularly large ones, to find “diverse and inclusive suppliers.”. “Businesses recognize the need for policy changes when it comes to diversity, equity, and inclusion goals, such as supplier diversity programs,” said Rod Robinson , vice president of supplier inclusion and sustainability at Coupa, in a press release.

Software 140

Software National California Policies 140

PYMNTS

SEPTEMBER 14, 2020

Standard Chartered has announced the completion of the first cross-bank Letter of Credit (LC) transaction over blockchain, between Vietnam and Thailand, according to a report from FinanceFeeds. The transaction was accomplished with the help of a partnership with Asian Development Bank (ADB), Bank for Investment and Development of Vietnam and Thailand's Standard Chartered Bank, according to the report.

blockchain 302

blockchain Report Operations Innovation 302

PYMNTS

SEPTEMBER 14, 2020

Many people prepared during the pandemic’s early days for what they forecast as a relatively short disruption to their daily lives — a few weeks or months of slowdown, followed by fast return to normal. But that’s not how things have played out half a year on, and the majority of U.S. consumers now expect disruptions to drag on well into 2021. As the pandemic grinds on and becomes a permanent-feeling feature of day-to-day life, U.S. consumers are changing their spending habits around it.

US 195

US Conference Michigan Trends 195

PYMNTS

SEPTEMBER 13, 2020

China-based ByteDance has said in boardroom discussions that it won't be selling its essential algorithm for the video-sharing app TikTok in any manner, according to sources quoted by the South China Morning Post. The company has faced scrutiny in recent weeks from the U.S. government over its potential for data mining and spying on users, with the President Donald Trump administration mandating it must divest its U.S. interests to another company.

US 160

US Video Maine Report 160

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SEPTEMBER 14, 2020

New Chinese finance rules will force Ant Group to comply with regulations to back up any payments, lending or other finances with substantial capital, according to a report from The Wall Street Journal (WSJ). According to new rules passed down from the Peoples' Bank of China (PBOC), firms operating two or more financial businesses in China will be classified as financial holding companies as of Nov. 1, and will have to apply for a license to do so.

Groups 161

Groups Company Regulation Lending 161

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SEPTEMBER 14, 2020

Talks have been revived for SoftBank to take itself private amid a series of disappointments to the company’s equity valuation compared to the value of its individual holdings, Financial Times (FT) writes. The company has seen numerous big asset disposals lately, and yet its $115 billion equity valuation continues even after a recent asset sale program to close the gap between the company and its holdings’ valuations.

Report 199

Report Company Management Operations 199

PYMNTS

SEPTEMBER 14, 2020

The United States may have some of the world's best cryptographers working for the National Security Agency and other spy shops, but the Internal Revenue Service (IRS) is crowdsourcing at least part of its effort to beat the algorithms that cloak information about certain cryptocurrencies. The agency recently issued a request for proposals from anyone who can help track payments using the Monoro or Lightning protocols and similar approaches to hiding tracks.

blockchain 160

blockchain cryptocurrency Bitcoin Compliance 160

PYMNTS

SEPTEMBER 14, 2020

Oracle Corp. beat Microsoft Corp. in a bid to take over TikTok’s video-sharing app’s U.S. operations Sunday (Sept. 13) days before President Donald Trump threatened to shut it down, The Wall Street Journal reported. China-based ByteDance Ltd., TikTok’s parent company, rejected Microsoft’s offer, the newspaper reported based on anonymous sources. The terms of the deal are unclear.

Report 189

Report Video Seattle Washington 189

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SEPTEMBER 14, 2020

Deloitte will be the first of the “Big Four” auditors to break up its business after selecting a new auditing board to undertake the task, according to a report from The Telegraph. The company, along with fellow Big Four members EY , KPMG and PwC , had been warned by watchdogs that their businesses needed to break off their profitable consultancy arms from audit divisions.

Groups 362

Groups Company Report Operations 362

PYMNTS

JULY 27, 2020

Two leading executives in the store credit card industry said they are nervous that when the federal $600-a-week bump for recipients of state unemployment benefits winds down July 31, pending Congressional action, credit card payments will decline substantially. “People got forbearance on credit cards, mortgages and auto loans. Everything got pushed out,” Margaret Keane , CEO of Synchrony Financial , told CNN Business.

Cards 189

Cards US New York Retail 189

PYMNTS

JULY 27, 2020

Payment systems provider REPAY Holdings Corp. acquired accounts-payable automation system cPayPlus LLC for up to $16 million, the buyer announced Thursday. Atlanta-based REPAY said terms included $8 million in cash and $8 million in further payments that will be triggered if cPayPlus meets performance milestones. REPAY says it handled $3.8 billion in card payments for the quarter that ended May 31 and generated gross profit of $28.7 million on revenue of $39.5 million for the period.

Atlanta 130

Atlanta Leadership System Resources 130

PYMNTS

JULY 27, 2020

As Google CEO Sundar Pichai prepares to appear before Congress Wednesday (July 29) to face antitrust charges , Australia’s competition watchdog has accused the Alphabet Inc. division of misleading consumers to get their personal data for targeted advertising. Reuters reports the Australian Competition and Consumer Commission ( ACCC ) has accused Google of failing to get consent or inform consumers before combining personal information in Google accounts with browsing activities on non-Google web

Google 181

Google Data Policies Regulation 181

PYMNTS

JULY 27, 2020

As lockdowns resume in many U.S. states from a surge in coronavirus cases, a poll suggests the economic recovery has slowed. In a Reuters survey , economists warned any job recovery is on track to be reversed as the number of COVID-19 cases reached nearly 4 million in the U.S. last week, with reports of more than 2,600 new cases every hour, the highest rate in the world.

US 247

US Survey Marketing Report 247

PYMNTS

JULY 27, 2020

Digital banking and eCommerce are making rapid gains in 2020 as consumers turn to online channels to make purchases and avoid potential exposure to COVID-19. These shifts are pressuring financial institutions (FIs) to provide seamless account opening experiences for growing shares of customers while also preventing fraudsters from slipping into their systems undetected.

Data 146

Data Fraud US social media 146

PYMNTS

JULY 27, 2020

Although there are countless ways a cybercriminal can swindle funds from a company — either from the outside or within — it’s often the invoice at the center of the crime. This week’s Data Digest looks at the latest in B2B payments fraud and the invoice’s role in supplier payment redirect scams, credential theft and more. 43 percent of employees admit to mistakes that have caused cybersecurity repercussions, a new study has found, according to OnRec reported.

Fraud 254

Fraud Survey Report Payments 254

PYMNTS

JULY 27, 2020

Though applications of the U.K.’s open banking framework have grown more diverse since its launch in 2018, the initial excitement behind the regulatory initiative was its opportunity to lower barriers to market entry for new FinTechs, and to augment competition in the financial services world. Open banking certainly has opened up the opportunity to drive innovation by connecting developers with data once locked behind traditional banks’ walls.

Compliance 185

Compliance Fintech Taxes Innovation 185

PYMNTS

JULY 27, 2020

The freelancing boom has been a long time coming. Experts in 2017 predicted that the majority of the U.S. workforce would be gig workers within a decade, and some now expect the pandemic to accelerate this shift. Many have lost jobs during the ongoing crisis and may seek out or receive gigs in lieu of full-time positions. Companies may also be eager to hire such talent at this time.

Regulation 130

Regulation Compliance Security Payments 130

PYMNTS

JULY 27, 2020

The pandemic-related economic downturn is making consumers wary of payment methods that can worsen their debts. Buy now, pay later (BNPL) solutions are steadily gaining favor in the U.S., however, as 30 percent of the nation’s consumers have such accounts. The payment method helps consumers afford big-ticket items as well as essentials like groceries, and financial hardships likely explain why demand for these services has ballooned during the health crisis.

Retail 146

Retail Google Apple New York 146

PYMNTS

JULY 27, 2020

The insurance industry has been bogged down by sluggish service and even slower payouts for decades, and while policyholders have certainly weathered their fair share of friction from the sector’s legacy incumbents, those insurance companies themselves have also suffered from a lack of digitization and automation. It’s a landscape that has created an opportune environment for technological innovation.

Innovation 247

Innovation User Experience Industry Fraud 247