Today in B2B payments, QuickBooks announces a partnership to launch business payment accounts, and Agari issues a warning of growing payroll and capital call investment scams. Plus, Paynetics partners for corporate cards, PrismHR suffers a possible ransomware attack, and BaFin pulls the plug on Greensill Bank.
QuickBooks Collaborates With Modulr On SMB Payments Account
Intuit QuickBooks has struck a deal with financial technology firm Modulr, which will fuel a new online payment account created especially for small companies called the QuickBooks Business Account. The tie-up will let QuickBooks connect a business account with a collection of bookkeeping, accounting and tax offerings. “We are proud to power the new QuickBooks Business Account, and to support Intuit’s vision of reducing the burden of admin imposed on small businesses and their financial lives,” Modulr Chief Executive Officer Myles Stephenson said in the announcement.
Cybersecurity Firm Agari Warns Of Email Capital Call, Payroll Scams
Agari has unveiled the results of a six-month cybersecurity study, which supports claims that email is the most popular conduit used by fraudsters. Capital call investment schemes are the latest kind of fraud that bad actors are using to bilk Wall Street businesses and their customers out of $800,000 on average for each incident, according to a press release from the cybersecurity company.
Paynetics, Benamic Team On Digital Corporate Cards
U.K.-based Paynetics, which enables payment services, has partnered with Benamic, a promotional campaign firm, to put out a corporate card program, according to a Crowdfund Insider report. Paynetics’ mobile-first digital cards will come with a rewards engine and will be compatible with both Apple Pay and Google Pay, the report stated. They will initially run from a leading brand in the electrical sector.
Ransomware Could Have Hit Payroll Firm PrismHR
PrismHR, a payroll company, suffered what could have been a ransomware attack over the weekend that left a massive outage, according to a report from BleepingComputer. PrismHR works as an online payroll, benefits and human resources platform used by professional employer organizations (PEOs) to provide services to clients, including small to medium-sized businesses (SMBs).
Germany’s BaFin Pulls The Plug On Greensill Bank
Operations were frozen at Greensill Bank after Germany’s Federal Financial Supervisory Authority (BaFin) filed a criminal complaint against the financial startup, the Financial Times reported on Wednesday (March 3). The German financial watchdog reportedly discovered balance sheet irregularities during a forensic audit of Greensill Bank. The audit was conducted by KPMG at the request of BaFin. The criminal complaint was filed in Bremen, where the bank is based, and accuses it of balance sheet manipulation.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More