Today In B2B: Intuit Closes Credit Karma Buy; Vaccine Supply Chain Scams

Today in B2B payments, IBM uncovers a business email scam targeting the vaccine supply chain, while Intuit finalizes its Credit Karma takeover. Plus, SellersFunding expands its solution across borders and Penta expands its accounting offering.

SellersFunding Expands Working Capital Services To Canada, UK, EU

SellersFunding, which works in integrated financial services, has announced an expansion of its scope to sellers in other countries like Canada, the United Kingdom and the European Union, according to a press release. SellersFunding works with a turnkey service for big companies, including Amazon, Shopify and Magento, the release stated. It offers services via a combination of access to working capital, daily advances and global cross-border payment features, allowing for an end-to-end picture of how a company is doing.

Intuit Closes $8.1 Billion Dollar Deal For Credit Karma

It’s a wrap for Intuit’s multibillion-dollar acquisition of Credit Karma. The company said on Thursday (Dec. 3) that it has completed its $8.1 billion acquisition of Credit Karma, which offers credit scores and reports to consumers and counts 110 million “members.” Intuit first announced its plans to buy Credit Karma in February, with an eye toward helping TurboTax, one of its flagship products, push deeper into consumer finance. However, the prospect of a deal that would unite TurboTax, a powerhouse in the tax preparation business, with Credit Karma’s own sizable consumer tax business, drew antitrust concerns from federal regulators.

Penta Offers Digital Accounting, Receipt Services

Customers of digital business banking platform Penta will now have the option to manage accounting and receipts digitally as the company partners with Germany-based DATEV Marketplace, a company news release stated. By being able to access proprietary accounting digitally and directly from their business accounts, Penta customers will now be able to achieve a “perfect symbiosis” between banking and accounting, the release stated. The move is touted in the release as Penta’s attempt to help out larger companies that have more complex accounting needs and higher numbers of employees.

IBM Cyber Analysts Red-Flag Attempt To Hack COVID-19 Vaccine Supply Chain

Apparently, there is no limit to how low some cyberspies will go. An IBM cybersecurity team blew the whistle on Thursday (Dec. 3) on what it called in a blog post a sophisticated “global phishing campaign” that targeted organizations involved in a key part of the supply chain for the various COVID-19 vaccines under development. In particular, the hackers targeted the organizations involved in the “cold chain,” the component of the supply chain designed to keep vaccines “persevered in temperature-controlled environments” as they are stored and shipped out to locations around the world for distribution.