New York’s banking regulator is targeting BNP Paribus for conducting business with countries such as Sudan, which the U.S. has sanctioned for its alleged support of terrorists. The regulator, Benjamin Lawsky, wants to force BNP to discontinue its dollar-clearing business. That could leave companies relying...
While 90 percent of small businesses have a presence online, only 10 percent can leverage it into sales. Moreover, while small and midsize business owners say they think about moving their account receivable, accounts payable and payroll functions into an electronic instead of paper-based system,...
A dramatic shift is underway in the currency U.S. companies use to trade internationally, especially with China, new data show. Increasingly, U.S. firms are settling trades in China’s renminbi instead of the U.S. dollar. Though the U.S. currency still dominates trade in the China/Hong Kong...
As merchants consider their options leading up to next year’s EMV liability-shift deadline, they are faced with the choice of upgrading their POS equipment, or wait and risk the fraud consequences while using the money to promote mobile-based initiatives. Their risk, however, also lies in...
The interest in and demand for immediate funds transfer is sweeping the globe has spread to Finland. The country already has an urgent payment system where payments are handled twice daily but now they are following their Swedish neighbors to develop a real-time system.
In an increasingly digital age, payments fraud is not a new issue. However, what the most common types of payment fraud are might come as a surprise to many consumers.
Today, Big Data is all the rage, as retailers, banks and others in the payments and commerce ecosystems want to know more about their customers so they may support targeted promotions offering products and services most appropriate for them. Technology also is coming more into...
State and federal government, and private-sector companies, increasing are developing and rolling out initiatives to help workers better understand their short- and long-term financial needs. Proponents would like start the financial-education process at kindergarten, which ultimately would help when workers begin planning for when they...
It’s been half a decade since Congress stepped in to thwart banks’ efforts to promote high-cost credit cards and loans on college campuses. Lawmakers are back at it again, this time targeting conflicts of interest and kickbacks between financial institutions and schools related to debit...
