Fri.Jul 31, 2020

Shake Shack's sales drop triggers app upgrade

Mobile Payments Today

Shake Shack shares were down 10% after the chain reported sales and revenues both dropped nearly 40% during Q2. CEO Randy Garutti has a comeback plan with an emphasis on digital

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Travel Management Firm CWT Pays $4.5M In Bitcoin To Hackers

PYMNTS

Corporate travel manager CWT paid $4.5 million worth of bitcoin in ransom this week to hackers who said they seized control of 30,000 company computers and two terabytes of data, Reuters reported on Friday (July 31).

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[LIVESTREAM]: ICX Association Elevate Awards

Mobile Payments Today

The ICX Association Elevate Awards honor the individuals and organizations that are pacesetters in using technology to elevate the customer experience

AutoX: Why Driverless Cars Are Ready To Hit The Road

PYMNTS

Tests of truly autonomous self-driving vehicles have been uneven at best, but with each scraped test hubcap, the concept draws closer to reality. Major automakers are in, with Toyota backing autonomous driving startup Pony.ai

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Two business models for monetizing Open Banking

Accenture

In my first post, I talked about how it was time for banks to start looking beyond compliance in Open Banking and to imagine their role in the new application programming interface (API) economy.

More Trending

Banks, do right by customers to increase trust

Accenture

Banks, by and large, should be proud of how they’ve handled the early stages of the COVID-19 crisis—shifting quickly to remote working and helping provide customers with much-needed liquidity and financial support. More changes lie ahead.

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Affirm Eyes Possible IPO That Could Value POS Lender At $10B

PYMNTS

Point-of-sale lender Affirm’ s initial public offering (IPO) could reach as much as $10 billion through work with Goldman Sachs , according to people familiar with the matter, The Wall Street Journal (WSJ) reported.

Walk-in payments still matter to MoneyGram, even as digital transformation bears fruit

Payments Source

MoneyGram International's digital transformation came at just the right time, considering walk-in traffic at MoneyGram locations in certain regions of the world was stymied for months by the coronavirus pandemic. But for many people, digital is still no replacement for the human touch.

Why B2B Firms Must Take The Wheel In Payment Processing Strategy

PYMNTS

In the midst of a surge of new software solutions and FinTech platforms available to B2B companies, the enterprise resource planning (ERP) system continues to retain its reputation as the single source of truth within an organization, a sort of motherboard to connect and streamline many workflows into one.

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Cash: Stop beating it up and promote its cost-effectiveness instead

ATM Marketplace

With the onset of COVID-19, discussions on whether or not cash was safe to use appeared regularly in media outlets and on websites.

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Neiman Marcus Nears End Of Bankruptcy

PYMNTS

Neiman Marcus could exit Chapter 11 in time for holiday shopping. According to the The Dallas Morning News , the luxury retailer is closer to exiting bankruptcy and is on schedule to have an approved business plan this fall and to emerge from Chapter 11 before Christmas.

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Affirm IPO could prove crucial in the crowded market for point of sale credit

Payments Source

A public listing would improve Affirm’s competitive position against other point of sale credit providers, which have made recent deals to cement their scale among global merchants. Affirm Point-of-sale Credit IPOs Max Levchin Payment processing

Trio Arrested In Twitter Hack, Including 17-Year-Old Alleged Mastermind 

PYMNTS

Three arrests were made Friday (July 31) in California, including a juvenile, the alleged mastermind, for their alleged roles in the Twitter hack that took place on July 15, according to the U.S. Attorney’s Office in the Northern District of California.

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Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.

How demand for new credit cards plunged during the coronavirus pandemic

Payments Source

Cash usage dropped much lower due to the coronavirus pandemic, and it appears that credit cards may be exhibiting some signs of abandonment as well. Credit Coronavirus Credit cards

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China Regulator Considers Antitrust Probe Of Alipay, WeChat Pay

PYMNTS

China’s State Council’s Anti-Monopoly Commission is considering investigating Alipay and WeChat Pay , two of the county’s biggest online payment and money transfer platforms, Reuters reported.

This Week in Fintech ending 31 July 2020

Daily Fintech

This weekly summary from our 9 experts, brings you insights based on their experience as investors, entrepreneurs & executives.

Varo Achieves Milestone As First Consumer FinTech To Get National Charter

PYMNTS

Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. Since then, the skepticism has evaporated and the CEO of Varo Money Inc. , the San Francisco-based online bank, had the last laugh.

Marketing-Led Post-COVID-19 Growth Strategies

Businesses are laying off workers, shutting their doors (some permanently), and struggling to react to the radical destruction that coronavirus (COVID-19) is doing to our society and communities. Most have already sustained massive damage, and we still have yet to see the scope of impact of the global pandemic that has upended the globe. Any return to normalcy may seem far-off, but sales and marketing are on the front lines of restarting the economy. When the dust settles, we have a responsibility to turn our shock and grief into fierce determination, and lead the charge of responsible, strategic, sustainable future growth. However, there’s no team better suited to lead that charge than the marketing department. Marketers are uniquely positioned to provide creative solutions to aid their organization in times of change and chart a course for navigating success.

International payments have been neglected for too long

Payments Source

Cross-border payments do not and should not exist in a vacuum, says Veem's Marwan Forzley. Cross border payments Mobile payments Blockchain Digital payments B-to-B payments Payment processing

AI Takes The Measure Of Fashion Retailing

PYMNTS

Iconic Vogue magazine editor Diana Vreeland once said, “Fashion is part of the daily air and it changes all the time.” Artificial intelligence (AI) is now one of the tools at the retailer’s disposal to keep pace with those changes. “It

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8 Tips for Getting the Most out of a Virtual Conference

Strategically Speaking

Virtual conferences have been on the rise for quite some time now. Think: Wistia’s 2018 CouchCon , USDLA’s 2017 National Conference , and The Learning Guild’s 2019 Emerging Tech & Learning Online Conference.) But in the wake of the COVID-19 pandemic, they’ve become an industry necessity.

Twitter Updates Users On Security Breach

PYMNTS

Twitter continues to inform users about its investigation into a massive security breach two weeks ago when hackers seized control of the celebrity accounts of Joe Biden, Kim Kardashian, Bill Gates and dozens of other A-listers.

How ZoomInfo Helps Overcome the Top Pain Points of Inside Sales

Recent digital transformation has shifted the B2B landscape by ushering in the era of buyer empowerment. With more access to user reviews, analyst opinion, and industry research, decision-makers are more informed than ever while navigating what is now known as the “buyer’s journey.”

Merchants’ Second Quarter Earnings Report Shows Stable Performance and Continued COVID-19 Relief Assistance

MerhantsBanks

Merchants Financial Group, Inc. MFGI) has announced financial results for the second quarter and details about COVID-19 assistance provided to its customers, according to MFGI President & CEO Gregory M. Evans.

Coronavirus Refunds: LSU Provides Reimbursement, Rollover Options For Season Tickets

PYMNTS

As the pandemic continues to disrupt everyday life the world over, consumers in many cases might want refunds on things they have already paid for but may not be able to use. Universities are offering reimbursements, credits, or donation options for season tickets.

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Workers Credit Union (MA) Offers Unique & Competitive Savings Account

BankDeals

Workers Credit Union (MA) has added a SaveUp Savings, a tiered savings account earning a range of blended APYs. Both small and large balances have the highest APYs

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Deep Dive: Credit Unions Respond To The Threat Of Digital-First Challenger Banks

PYMNTS

Credit unions (CUs) have competed with banks that offer similar products for years, but their strength has long remained in the value of member relationships and ownership in the CU.

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Marketing Ops: The New Revenue Hero

As data continues to play a starring role in today’s B2B organizations, both marketing and sales operations professionals are poised to solidify their place as critical revenue drivers. In particular, the evolution of the Marketing Operations (Ops) role has created a new standard in marketing and has become a vital component of an organization’s success.