Rampant fraud in the global trade finance space is forcing the industry to go digital, according to Asia’s second-largest lender, OCBC. The Singapore bank’s Managing Director and Head of Global Commodities Finance Ng Chuey Peng told Bloomberg that “trade finance is due for a transformation,” reports said Monday...
The Better Business Bureau (BBB) is issuing a warning to small businesses (SMBs) about a possible lending scam shedding light on the risks of online lending. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
Thanks to digital, everything — from online shopping and mobile ordering to peer-to-peer payments — has speeded up. Yet invoicing and payments haven’t kept up with the times. Many accounts payable departments are still operating in an analog world. Get the Full Story Complete the...
In honor of Small Business (SMB) Week, which kicks off in the U.S. on Monday (May 6), banks and financial service providers are releasing troves of new data on how small businesses are managing money and preparing for growth. There is much to be optimistic...
The West Virginia State Auditor’s office has announced a new tax program aimed at vendors who owe the state money. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
As European Union (EU) authorities continue to combat interchange fees charged by credit card companies Visa and Mastercard, some are now calling on such regulatory action to apply to corporate and commercial cards as well. Get the Full Story Complete the form to unlock this...
In the U.K., mandates to get larger firms to pay smaller suppliers and contractors with speed seems to be hitting some speed bumps. In Scotland, a trade group urges the protection of funds slated to pay contractors. In Illinois, legislation aims to pay suppliers on capital...
On a global scale, supply chain risk for large conglomerates can often be about regulatory compliance, contract negotiations and even addressing threats based on weather patterns and natural disasters. However, in areas like construction, supply chain risk mitigation is typically examined at a more micro...
Asto, the U.K.-based mobile app that provides small businesses (SMBs) and entrepreneurs with bookkeeping solutions, is adding trade finance to its list of offerings. Owned by Spanish banking conglomerate Santander, Asto will integrate invoice financing into its platform, reports said on Friday (May 3). Reports noted...
