PSD2 Creates Turbulence For Travel Operators

PYMNTS

With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant.

JPMorgan Consolidates SMB, Enterprise Payment Operations

PYMNTS

JPMorgan Chase is planning the consolidation its corporate payment operations by combining small business (SMB) and large enterprise solutions, the Financial Times ( FT ) reported on Thursday (Jan.

On-Demand Delivery Service Munchery Ceases Operations

PYMNTS

Munchery , the on-demand delivery startup that raised $125 million in venture funding, has shut down the service effective immediately.

Link, ATM Operator Face Potential Court Fight

PYMNTS

NoteMachine , one of the biggest ATM operators in the U.K., A Link spokesman declined to comment on the fight with NoteMachine , but Link chief operating officer Sue Wallace wrote in an email seen by The Financial Times that the company “strongly” rejects the contention. “It

Operant Calls for Consortium to Improve Debt Collection

Bank Innovation

Operant Founder and CEO Allan Fisch said at a meetup yesterday at Bank Innovation’s headquarters in New York that a consortium would allow the FIs to contribute anonymized data on the performance of their third-party […]. Toronto-based fintech Operant.AI

Bike Sharing Co Mobike Backpedals Operations To Focus On China

PYMNTS

Chinese bike sharing company Mobike, which once attracted billions from big-name investors, said it is closing down all of its operations around the world, to focus solely on China. Competitor Ofo was suffering financially and had to pull out of operations overseas.

Boost efficiency through operational innovation in financial services

Insights on Business

Operational innovation is vital in a highly competitive financial services sector, with a new community of digital banks and other firms vying for market share. Drivers for Operational Innovation. People are at the heart of any financial operation.

Uber To Sell Its Uber Eats Operations In India To Swiggy

PYMNTS

Uber Eats , the food delivery business of Uber, is gearing up to sell its Indian operations to Swiggy , a rival food delivery company in the country.

Sage Sells Off US Payroll Operations In Cloud Push

PYMNTS

However, the company has been investing more into its cloud operations as of late. Small business (SMB) cloud solutions provider Sage is refocusing away from payroll as it divested its U.S. assets for $100.3 million, Reuters reported on Tuesday (Jan.

Three success factors in security operations

Insights on Business

The model delivers better customer experiences, creates operational efficiencies, and can lead to new revenue sources. They are looking for end-to-end security operations that are flexible and scalable, data-driven and applied with automated, operational accuracy.

Alsea Will Operate Some Starbucks Locations In Europe

PYMNTS

While Starbucks aims to streamline its operations in places that are seeing challenges with sales, the coffee chain plans to give a longtime partner the rights to operate cafes in four European markets.

Bank Expenditure Operational Risk

Banker to Banker

Operational risk gets the short shrift in banking. Credit and interest rate risk are the big men and woman on campus (just to throw in a back to school metaphor) while operational risk is usually relegated to the shallow end of the pool.

Yelp Faces Investor Call For Board Shakeup, Review Of Operations

PYMNTS

The Wall Street Journal , citing a letter SQN Investors plans to send to the board of Yelp, says the investor is calling on the company to consider all options including a sale to improve operations.

Facebook Users Unfriending The Social Media Operator

PYMNTS

Facebook is losing its luster with some of its customers, as Pew Research finds that a “significant” share of its users have changed their relationship with the social media network during the past year. According to the report , 42 percent of Facebook users have taken a break from the platform during the past year, while 54 percent of those 18 and older told Pew Research they have adjusted their privacy settings during that timeframe.

How Prepaid Cards Played A Role In El Chapo’s Global Drug Operation

PYMNTS

Drug suppliers will keep moving their products across borders, and it seems almost certain that while cash will continue to have a dominate role — and some banks will continue struggling with money laundering detection — debit cards are set for more use among those illicit business operations.

Gearing Up New Operations

Independent Banker

When Leto took the executive helm last year of Bryn Mawr Trust’s parent company, it was operating a very small insurance agency that was hardly making money. “We General Highlighting Operations & Management

Verizon Buys Drone Operator

PYMNTS

In a press release , Verizon said Skyward, which is based in Portland, adds drone management to the Verizon IoT portfolio, making drone operations easier to manage for any size company. companies rely on Skyward to manage drone operations, improve safety and lower operating costs. With the deal, businesses small and large can turn to Verizon for integrating, managing and wirelessly connecting their drone operations.

Three Crypto Operators Sued By US Regulator

PYMNTS

In the latest sign of regulatory action in the virtual currency realm, the Commodity Futures Trading Commission (CFTC) has filed a lawsuit against three virtual currency operators, with allegations that the trio had defrauded customers. In addition, the regulator charged, the three operators broke laws governing commodity trading. The newspaper noted that these are the first actions that come against operators since bitcoin futures were launched in December of last year.

Rethinking the operating model: How a global bank accelerates transformation results

Insights on Business

Business model innovation only just begins once you’re on the cloud—and the leading global banks are already making the move and are now exploiting cloud for innovation – and while they do that, they are having to rethink their operating models.

MasterCard strengthens ties to mobile network operators

Mobile Payments Today

The Purchase, New York-based card network has already helped MNOs such as Vodafone Ukraine, Digicel Group in the Caribbean, Viettel Telecom in Vietnam and Taiwan's Chunghwa Telecom to roll out various services related to digital payments

Moovit Raises $50M To Expand Operations

PYMNTS

It has used the data to create the Smart Transit Suite of software, an offering aimed at municipalities and transit operators to help them better manage their networks. Public transit app Moovit announced Wednesday (Feb. 21) that it had closed a Series D round of funding, raising $50 million. In a statement on the company’s blog, Moovit said the Series D round of funding was led by Intel Capital.

Dynamics, Sprint Launch Battery-Operated Payment Card

PYMNTS

Dynamics, a unit of telecommunications firms SoftBank and Sprint, announced what it is calling the first battery-powered payment card on Monday (Jan. T he offering, dubbed Wallet Card, was unveiled during the annual Consumer Electronics Show (CES) technology conference. According to a press release highlighting the new product , Dynamics said the payment card will boast fast data breach response and replacement times.

Mayzus Financial Now Operating as Money Polo

Mobile Payments Today

The co-owners of a large FX business numbering about 40 thousand active clients-traders turned to us with the task to create a single payment service for the purpose of minimization of expenses for operations

Financial Firms Turn To Insurance For Operational Risks

PYMNTS

Cyber crime, cyber attacks and rogue traders have cost banks around the globe a lot of money, and they are increasingly turning to insurance firms to counter those so-called operational risks. According to a report in Reuters , insurers have said they can protect lenders by giving them more expertise on financial and operational risks. In one instance in which that wasn’t the case, Credit Suisse last year sold a bond that was tied to the operational risk of the bank.

Toys R Us Eyes Liquidation Of US Operations

PYMNTS

operations, currently in bankruptcy, according to recent Bloomberg reports. The plans come as the company has yet — and the emphasis may be on “yet” — to find a buyer for those operations or finalize its debt restructuring plans. toy and game brand entered bankruptcy protection in September 2017, and had planned to refashion both its capital and operating structures — which is typical of such strategies.

Bank Of England COO Joins New Payment System Operator

PYMNTS

The Bank of England’s chief operating officer is joining the U.K.’s s New Payment System Operator (NPSO). The Payment System Operator Delivery Group is closing to hand down operation of the nation’s payment systems to the New Payment System Operator in an effort to streamline the payment ecosystem. Payments Administration (UKPA) to provide support to payment system operators. The NPSO announced news on Wednesday (Feb.

Chatbots Bringing On Business Operations Revolution?

PYMNTS

Removing the shackles of the traditional 9-to-5 hours typical of a telecommunications customer service center, chatbots seem to be leading the charge for a business operations revolution. Whether someone is buying a product, attending a concert or renting a truck to move furniture, there’s some level of customer service involved. It’s the one major thread running through nearly every business.

SMB Day-To-Day Operations, Digitally

PYMNTS

For the SMB, paper is hard to part with when it comes to improving process flow and optimizing hours spent on a business day to day. In an interview with PYMNTS, Neopost SME Digital Solutions Director Erwan Kernevez said that pain points among smaller firms include the management of inventory spend and time spent dealing with manual processes.

Court Tells Grab To Pay Vietnam Taxi Operator For Lost Business

PYMNTS

Grab , the leading ride-hailing company in Southeast Asia, was ordered by a court in Vietnam to pay $206,985 — or 4.8 billion dong — in a legal battle with Vietnam Sun Corp. , the local taxi company that sued Grab over lost business.

‘Death-Spiral Financing’ Leads to SEC Fraud Charges Against Penny-Stock Operator

PYMNTS

Sason ran a company called Magna Group, and according to the SEC, raked in more than $25 million via what the federal agency in its complaint described as an operation that involved the quick dumping of penny-stock shares that had been illegally gained. So much of the focus on fraud these days involves exploiting holes in software, hacking into systems to steal personal information and payment data, or otherwise using digital methods in heists.

Bank of America Turns to Electronification of Cash to Reduce Operational Costs

Bank Innovation

Capital Cards Corporate Exclusive Mobile Online Open Fintech Operations Retail artificial intelligence Bank of America credit cards Goldman Sachs Mobile banking Robotics Zelle

Consumer perceptions, operator opportunities in the ATM channel today

ATM Marketplace

"Changing consumer ATM habits and how to address these for success," a breakout session at last month's ATMIA US conference, gave financial institutions and independent ATM deployers a look at results from a TNS study that illuminated opportunities to increase ATM user satisfaction and boost operator revenues

Walmart Reshuffles Operations As It Pushes To Stay Competitive

PYMNTS

When the going gets tough, the tough restructure their retail operations in an attempt to better facilitate change. It also announced its plans in February to consolidate buying operations. Well, they do if they’re Walmart anyway. Consolidation is coming to Walmart starting today, when six retail business units will be contracted down to four, according to a recent news release.

Mall Now A Four-Letter Word For Some Operators?

PYMNTS

The Wall Street Journal reports that the “four-letter” word has been getting the boot from … mall operators. Turns out “mall” is a passé, a name, a nomer that hearkens back to the musty days of the 80s. Call them something else, then, it seems. In numerous examples cited by the financial publication, rebranding is afoot. Consider Parmatown Mall, in Parma, Ohio, which has been refashioned as The Shoppes at Parma. Hanover Mall, situated in Hanover, Mass., is now Hanover Crossing.

Key Benfits of Operating Turnkey Payment Business in European Union

Mobile Payments Today

See why many entrepreneurs are operating turnkey payment businesses without the need for a bank license Initiating a financial institution offers many challenges.

What Does ‘Operational Efficiency’ and ‘Pragmatism’ Mean for Innovation?

Bank Innovation

Signs point to more difficult economic times ahead. The future is always uncertain, but banks must prepare now, and this may spell trouble for innovation teams. Wells Fargo & Co. recently notified about 1,000 employees in its Consumer Banking and Payments, Virtual Solutions and Innovations groups of the bank’s plans to eliminate their positions. The […]. Corporate Daily Post 1 Exclusive Lending Premium Forrester Research innovation group JP Morgan Chase lending Wells Fargo

Igniting The Operating System For Employer-Funded Healthcare

PYMNTS

In fact, Batniji likened the company’s platform to an operating system that can run other technology. No matter the industry, nearly all U.S. employers are in the healthcare business , a reality reflected on balance sheets, and one that can keep even the most stoic CFO sleepless at 3:00 a.m. And more of those companies are opting for self-funded health insurance programs. The money spent by those employers represents a form of significant control over healthcare.

KQ Operation Pride

Bankelele

What is Operation Pride? Internally at KQ, they have Operation Pride, launched in October last year but, which started in March this year, and which KQ CEO, […]. The post KQ Operation Pride appeared first on Bankelele.

Maximizing Operational Efficiency

ATM Marketplace

Don't let your aging ATM network cost you more in the long term. For many, the decision to replace or upgrade ATMs is driven by one resounding factor. And that’s cost. But, alongside the initial investment of implementing new technology, shouldn’t you also take into account the cost of not upgrading

FTC’s Operation Main Street Helps Protect SMBs From Fraud

PYMNTS

The Federal Trade Commission (FTC) has announced a new law enforcement initiative targeting operations seeking to defraud small businesses. attorneys’ offices and the Better Business Bureau (BBB), the FTC has released the results of Operation Main Street: Stopping Small Business Scams. In partnership with the offices of eight state attorneys general (AGs), the New York division of the U.S. Postal Inspection Service, two U.S.

Maine 109

Consumer perceptions, operator opportunities in the ATM channel today

ATM Marketplace

"Changing consumer ATM habits and how to address these for success," a breakout session at last month's ATMIA US conference, gave financial institutions and independent ATM deployers a look at results from a TNS study that illuminated opportunities to increase ATM user satisfaction and boost operator revenues

Chef’d Halts Operations After Burning Through Cash

PYMNTS

Chef’d , a the meal-kit operator, has halted its business operations after using up all its cash and failing to line up more of it. Due to some unexpected circumstances with the funding and business, I regret to inform that Chef’d has ceased all operations until our investors and lenders decide the final fate of the company,” the company’s chief technology officer wrote in an email to a supplier Tuesday (July 17), reported the Wall Street Journal.

Lessons on going cashless from stadium operators' warm-up

Payments Source

A movement to eliminate cash for routine transactions has been building for years, with sports stadiums often seen as an ideal setting to test whether consumers are willing to ditch cash for a full day out. Cash Prepaid cards Digital payments