The latest change in the “real” Living Wage, as recommended by the Living Wage Foundation, marks a significant shift for nearly 500,000 workers across over 15,000 businesses in the United Kingdom. The increase of 5% raises the rate to £12.60 an hour, providing an annual boost of £2,262 for employees compared to the government’s statutory minimum rate of £11.44 per
Understanding the benefits and complexities of Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) is crucial for HR professionals. With open enrollment periods presenting the perfect opportunity to educate employees, it’s vital to ensure they make informed decisions. This guide aims to provide essential tips and reminders, spotlighting compliance and strategic advantages to maximize these valuable financial tools. By
Mastercard has partnered with some of the top FinTech players, including Global Payments, Skipify, and Splitit, to enhance its US Installments Program significantly. This initiative is designed to provide greater flexibility for consumers at the checkout stage, addressing the increasingly evident demand for versatile payment solutions. The program has now been made available across all eligible digital points of sale,
Stripe is in advanced discussions to acquire the B2B stablecoin technology firm Bridge, as reported by Bloomberg, signaling a major strategic move. This acquisition comes on the heels of Stripe recently re-enabling stablecoin acceptance for merchants, indicating the company’s renewed focus on integrating stablecoin technology into its payment solutions. Bridge, launched in August after a rigorous 2.5 years of development,
John Caplan, the relatively new CEO of Payoneer Global, has been steering the company on a strategic path of growth through targeted acquisitions. The most recent milestone in this journey is the purchase of Singapore-based Skuad for $61 million, with an additional $20 million contingent on performance metrics. This acquisition marks the third deal Payoneer has closed since Caplan’s takeover
Paystand, a leading innovator in the field of digital payments, has introduced an innovative feeless B2B blockchain-enabled payment platform to Acumatica, a comprehensive cloud-based ERP system. Acumatica is renowned for its robust suite of features, including finance, inventory, CRM, and payroll management. This new integration with Paystand empowers Acumatica users to streamline their accounts receivable (AR) processes, shorten their days
Arab Financial Services (AFS) has made a significant stride towards expanding its operations and enhancing digital payment solutions in the Middle East and Africa. By securing a $50 million capital injection, AFS is set to enhance its market presence and push forward its innovation agenda. Overview of Arab Financial Services Arab Financial Services is a leading name in digital payments
The landscape of financial transactions is undergoing a fundamental transformation, and Bank of America is at the forefront of this change, driven by an accelerated adoption of Application Programming Interfaces (APIs) for real-time data processing and transaction handling. Over the past year, there has been a 51% uptick in clients leveraging these technologies, revolutionizing how businesses manage their financial operations.
The collaboration between Sharegain and DriveWealth marks a significant milestone in the FinTech world. These two leading financial technology companies are coming together with a shared vision to expand and optimize opportunities within the global securities lending market. Their partnership not only aims to streamline financial services but also to ensure adherence to strict regulatory standards. As each company brings
Nooks, a pioneering company in the sales automation industry, has recently unveiled its AI Sales Assistant Platform (ASAP), backed by a significant $43 million in Series B funding. This influx in capital, led by Kleiner Perkins with participation from Lachy Groom and Tola Capital, boosts Nooks’ total funding to $70 million. The company aims to revolutionize the sales workflow by
Generative AI has become a cornerstone in the tech industry, pushing companies like Google and Microsoft to pour massive investments into data center GPUs. These high-performance chips are indispensable for running the vastly intricate and powerful AI models that are the current focus of technological advancements. This fervent investment, however, comes with its own set of challenges—most notably, the relatively
The fintech industry recently witnessed a game-changing development with the launch of Keabank’s Payment Intelligence service. This groundbreaking initiative aims to integrate traditional banking systems with cutting-edge decentralized finance (DeFi) solutions, thereby simplifying global payments and enhancing financial access for both businesses and individuals. As a leader in blockchain-driven financial services, Keabank chose the prestigious Fintech Surge Dubai event to
