European Banks Want More Regulation Of Large Tech Companies

PYMNTS

Some of the biggest banks in Europe are urging regulators to increase oversight of large technology companies that are moving into the financial services market. technology companies will choose to go only after the best parts of the financial services market. She doesn’t mind taking on tech companies but wants its to be on the same terms. The banks are concerned that opening their data in Europe will not give them the same access to the large tech companies in the U.S.

Groupon Buys Company Behind Vouchercloud, Giftcloud

PYMNTS

Groupon , the deal website operator, announced news on Tuesday (May 1) that is buying Cloud Savings Company, the parent company of online discount code platform Vouchercloud and brand loyalty provider Giftcloud. In a press release, the company said it acquired the company at an enterprise value of $65 million. “We’re and beyond,” said Greg Le Tocq, co-founder and director of Cloud Savings Company, in the same press release. “In

200 Fake Ecommerce Companies Identified

PYMNTS

Spying a fake company is difficult, even for India’s Ministry of Consumer Affairs, which just disclosed efforts around identifying about 200 fake commerce companies. The names of each company have not been released to the public, but the Ministry has escalated the matter up to the Department of Industrial Promotion and Policy (DIPP) for further action. She added that for the next few days, all consumer complaints related to commence companies will be answered via Twitter.

EU To Propose Tax On Big Tech Companies’ Sales

PYMNTS

The European Commission is gearing up to propose new rules later Wednesday (March 21) that would require digital companies to pay more taxes — and the rules could include U.S. technology companies Google and Facebook. Citing a draft of the rules, Reuters reported that the European Commission is expected to call for companies that have a lot of digital revenue in Europe to pay a 3 percent tax on turnover at the company. The tech companies based in the U.S.

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Noodles & Company Launches Loyalty Program And App

PYMNTS

Noodles & Company unveiled its new NoodlesREWARDS program on Wednesday as a way to say “thank you” to its loyal customers and encourage them to bring new ones into the fold. Noodles & Company serves classic noodle and pasta dishes from a variety of cultures: Italy, Thailand, Korea, Japan, Central America and the American Midwest, to name a few. Surprise noods? Who would say “no” to that?

Jessica Alba’s Honest Company Faces A Down Round

PYMNTS

Looks like Jessica Alba’s co-founded Honest Company might be in a bit of honest trouble. According to emerging news reports, the five-year-old home and body care product company is looking to raise $75 million in new Series D venture capital funding at $19.60 Honest Company’s last fundraising in 2015 was for $100 million — and at $45.75 The big price tag on Honest Company, however, is as much a limitation as it is an honor.

Mexican Company Offers Crypto Backed By Habaneros

PYMNTS

The company said it could pay a dividend of 30 percent of the coins’ cost each year. So far, the company has sold only 50,000 of the 1 million Agrocoins that it plans to make available. Investors can currently buy the coins on the company’s website. In an effort to raise funds from small investors, Mexico’s Amar Hidroponia is selling digital currency backed by habanero chilis.

Companies Are Shaking In Their Boots Over Digital Startups

PYMNTS

According to Dell Technologies, 78 percent of businesses are threatened by digital startups , which is propelling innovative companies ahead and accelerating the demise of others. Close to half of companies surveyed by Dell, or 45 percent, fear they could become obsolete in the next three to five years because of competition from digital startups. “So If companies can’t keep up, they will fall behind … or worse. Innovation companies Dell digital startups News What's Hot

SEC Investment Company Reporting Modernization Foundational Work

Perficient Financial Servies

In a new guide , we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. The snippet below talks about the foundational work companies should have already completed. By now, you should have a program in place that covers the following work streams: Engage Report Filing Provider: Initiate a project with the selected service provider to collect and process data, and file the required forms.

Seattle Approves Next Tax For Big Companies Like Amazon

PYMNTS

Seattle’s city council has approved a new tax for the city’s biggest companies, including Amazon , to combat a housing crisis impacting the city’s working class. The new tax was passed with a 9-0 vote, and would affect most companies grossing at least $20 million a year. At 14 cents per employee per hour worked within the city, the new tax would cost companies about $275 annually for each worker.

Warby of X: roll: Bicycle Company Goes Omnichannel

PYMNTS

Stuart Hunter, founder and CEO of roll: Bicycle Company explained how taking its bike sales online is helping customers not only overcome their fear of purchase, but also find a completely customized product that can be returned if it’s not the perfect fit. PYMNTS: How did roll: Bicycle Company get started? SH: The idea for roll: Bicycle Company was born in our brick and mortar shops. PYMNTS: How has the company disrupted or changed the bicycle industry?

BI 2018 to Announce DEMOvation Companies

Bank Innovation

Bank Innovation will announce the companies participating in our 2018 DEMOvation Challenge later this week. The companies and details of the challenges will be announced tomorrow, at 10 AM ET, on the @BankInnovation Twitter.

Chinese Tech Companies Set Their Sights On Southeast Asia

PYMNTS

Chinese companies are setting their sights on a new market for growth: Southeast Asia and its 620 million people. According to a report by The Wall Street Journal , China’s top internet companies, including Alibaba, Tencent, Didi Chuxing and JD.com, are expanding in Southeast Asia, moving beyond the slowing economy in China. What’s more, industry watchers said in the report they think that investments on the part of Chinese tech companies will accelerate next year.

200 Fake Ecommerce Companies Identified

PYMNTS

Spying a fake company is difficult, even for India’s Ministry of Consumer Affairs, which just disclosed efforts around identifying about 200 fake commerce companies. The names of each company have not been released to the public, but the Ministry has escalated the matter up to the Department of Industrial Promotion and Policy (DIPP) for further action. She added that for the next few days, all consumer complaints related to commence companies will be answered via Twitter.

Blockchain-for-Data Company Factom Raises $4.2M

Bank Innovation

Doing it, moving on: Blockchain-for-data company Factom Inc. Some words that should no longer surprise you, because this technology is only growing stronger: in blockchain news, there’s a new player on the block… chain. has just raised $4.2M

SEC Investment Company Reporting Modernization Deadlines

Perficient Financial Servies

In a new guide , we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. The snippet below shares some deadlines the new rules present. Form N-PORT. If you are a larger entity with net assets of over $1 billion, you were initially required to comply by June 1, 2018. The SEC has granted a nine-month delay, but you must still gather and maintain all the required data as of June 1, 2018.

Confectionery Companies: The Other Unintended Casualty Of Self-Checkout

PYMNTS

Things aren’t so bubbly for chewing gum companies and confectioners. Quartz predicts that things are about to get worse rather than better for confectionery companies. So far, only company employees have gotten to try it, but the idea is that shoppers can walk in, fill their carts and walk out. The company gave chase, and it worked. The company’s acquisition of the barkTHINS brand also gave sales a boost.

How Chinese Companies Are Handling Tight Regulations

Bank Innovation

Chinese insurance company ZhongAn Online Property and Casualty Insurance, which boasts a customer base of 500 million people, has obtained approval to open an initial public offering (IPO) on the Hong Kong stock exchange.

Investment Company Reporting Modernization Goals & Expectations

Perficient Financial Servies

In a new guide, we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. New forms you must submit: Form N-PORT: Requires investment companies to report portfolio information monthly in a structured data format. Form N-CEN: Requires investment companies to report census-type information annually in a structured data format.

Couriers, Messenger Companies Helped July’s Job Growth

PYMNTS

According to a news report in The Wall Street Journal , courier and messenger companies brought on 3,200 new workers in July, marking the fourth month in a row of job increases. While courier and messenger companies are seeing job growth and increasing the number of positions they staff, hiring at warehousing and storage companies is on the decline, slashing 2,200 jobs in July. The jobs report for the month of July was strong, and the U.S.

Banks, Credit Card Companies In Talks To Monitor Gun Sales

PYMNTS

Banks and credit card companies are looking at ways to pinpoint gun purchases via their payment systems in what could be the first step in restricting purchases of guns. Still, the financial companies are looking at ways to help in the wake of the school shooting in Parkland, Florida that left 17 dead. The companies have looked at developing a new credit card code for gun dealers, similar to how they classify restaurants and department stores with different codes.

Toys R Us Embraces Blockchain To Save Company

PYMNTS

And the money came rolling in, to the tune of $7 billion in a day, from investors everywhere, and the company’s debt was retired. Upon announcing the name change, the company said in a statement it would take a page from President Donald Trump’s campaign playbook, which included imploring voters with the statement: “What the hell do you have to lose?”. They did it for the children.

[Guide] SEC Investment Company Reporting Modernization

Perficient Financial Servies

In an effort to increase transparency, the Securities and Exchange Commission (SEC) has adopted new rules and amendments, called Investment Company Reporting Modernization Rules , which require registered investment companies to modernize their reporting and disclosures. Our new guide discusses the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions, including: Why the SEC established new rules.

CEO Identity Crisis For Honest Company?

PYMNTS

The rumor mill has been churning over at Honest Company, according to a few inside sources as reported by Recode this week. After a turbulent year led by an almost-filed IPO, the company began its talks with top executives from consumer package companies. To help determine next steps for Honest Company, these executives were brought in by the board of directors. We’re always looking to do what’s best for the company.”.

Corona’s Parent Company Gets Into Pot

PYMNTS

Constellation Brands , a beer distributor that owns Corona, announced that it has signed an agreement to buy an almost 10 percent stake in Canopy Growth Corporation , the world’s largest publicly traded cannabis company. Both companies intend to enter into an agreement to exchange knowledge and expertise. Our company’s success is the result of our focus on identifying early stage consumer trends, and this is another step in that direction.”.

ID Tree is Raising $1MM To Track Private Companies

Bank Innovation

Private companies. The New York-based startup allows investors to discover private companies and track their financial progress. Online Startups Technology Equityzen ID Tree investors IPO Private companies

Square Capital Drives Company Revenue

Bank Innovation

Square reported its third quarter 2016 earnings this week, and it’s not a particular surprise that the company exceeded all expectations: for the third consecutive quarter Square surpassed its expected metrics with a GPV of $13.2

Square Capital Grew 64%, Driving Company Revenue

Bank Innovation

The division of the company responsible for providing loans to small businesses and Square sellers across its global network, Square Capital, processed more than 400,000 business loans for the quarter, for a total of $251 million. The lending business appears to be treating Square well.

Bitcoin Regulatory Roundup: SEC Swoops In On The Crypto Company After Surge

PYMNTS

have suspended a bitcoin-focused company following questionable business practices, Singapore is advising “extreme caution” when investing in the potential bubble and neither Japan nor South Korea is recognizing cryptocurrencies as actual currencies. A small company saw shares increase 2,700 percent in the last month following its participation in the bitcoin cryptocurrency boom. Securities and Exchange Commission (SEC) has suspended trading for The Crypto Company shares until Jan.

The 11 Companies Announced for the Bank Innovation 2018 DEMOvation Challenge

Bank Innovation

This morning, Bank Innovation officially announced the 11 companies that will be participating in its 2018 DEMOvation Challenge. EXCLUSIVE – Here they are.

WhatsApp Founder Leaves Company Over Facebook Data Strategy

PYMNTS

The co-founder of WhatsApp, a messaging service owned by Facebook , announced he is leaving the company. Jan Koum, who co-founded WhatsApp with Brian Acton, is leaving the company after disagreements over the messaging service’s strategy, as well as Facebook’s attempts to use its personal data and weaken its encryption. “It’s Acton left the messaging service company in September to start a foundation.

BlackRock Co-Founder Says Chinese Tech Companies Could Disrupt Finance

PYMNTS

As Chinese tech companies ramp up their efforts to offer financial services, BlackRock Co-Founder Robert Kapito said that existing Western firms may struggle to compete. In his remarks, Kapito drew corollaries to show how tech companies have disrupted various industries, saying they could shake up the financial world next. Tech companies are going to enter the financial services market in a very, very aggressive way.”.

These Public Companies Are Talking About Blockchain

CB Insights

Some companies are even pivoting away from their core products to adopt new blockchain strategies , seeing notable stock price jumps in the process. Diving a bit deeper, we see a couple companies have consistently talked about blockchain technology more than their peers.

Most Efficient Bank Holding Companies

BankThink

Performance reports Ranking the banks Banks, thrifts and holding companiesYear to date through Dec. 31, 2017. Dollars in thousands.

Will Jessica Alba’s Honest Company Get Bought Out?

PYMNTS

It seems that the Jessica Alba cofounded company Honest Company may be in talks to sell out to one of the big consumer product firms, like Unilever or Procter & Gamble. Honest Company was most recently valued at $1.7 The companies involved did not immediately respond to a request for comment. Honest Company was founded in 2011, is led by CEO Brian Lee and started out by selling nontoxic, eco-friendly diapers and other baby products. Retail Honest Company

Payments Companies Are Most Likely to Attract Funding

Bank Innovation

That’s something to consider, as payments and remittance companies are receiving the most funding from the top 10 investors in fintech, according to data released last week by Fintech Global.

Majority Of Company Leaders, Employees Leaving Toys R Us

PYMNTS

Toys R Us CEO Dave Brandon — along with other members of the leadership team and the majority of employees—are leaving the company. A company spokesperson confirmed to Retail Dive that Brandon and the executives “fulfilled their professional and fiduciary responsibilities to the company.”. ” The company’s liquidation, he said, “doesn’t take away the fact that we had a good experience.”

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Consumers Trust Banks Over Tech Companies For Digital Payments

Bank Innovation

Consumers, who cited technology companies as […]. Payments still belong to banks, according to consumers—even when those payments are being made through a smartphone or an IoT device.

Most CFOs Lack Full Visibility Into Company Spend, Coupa Finds

PYMNTS

The report, “The Strategic CFO in a Rapidly Changing World,” commissioned by corporate expense management firm Coupa , found that of more than 500 CFOs surveyed, more than 60 percent said they don’t have total visibility into company spend. 1 threat to CFOs’ abilities to make a positive impact on their companies’ financial positions.

Chip-Reader Lawsuit Proceeds Against Card Companies

PYMNTS

Now, the big card companies — Visa, Mastercard, American Express and others — are all facing a class-action lawsuit brought by retailers over the new chip readers. and Grove Liquors LLC are suing on behalf of merchants nationwide, alleging that the credit card companies conspired to dump fraudulent transactions on merchants that didn’t make the EMV card deadline. It’s been a year since the EMV card reader deadline.