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FLreports

Data on UK car production: More than halved since the same month in 2019

June 25, 2021 at 12:07AM

Data on UK car production: More than halved since the same month in 2019
Data from the Society of Motor Manufacturers and Traders (SMMT) via Reuters report:
– automotive production more than halved in May compared with the same month in 2019 (comparing with 2020 will show skews due to the lockdown impact of that year)
Global shortage of semi-conductors and other components cited

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FLreports

UK data – GfK Consumer sentiment for June: -9 (vs. expected -7, prior -9)

June 25, 2021 at 12:01AM

UK data – GfK Consumer sentiment for June: -9 (vs. expected -7, prior -9)
Consumer confidence missed its central estimate but has remained at a 14 month high nonetheless.
GfK says:

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FLreports

New Zealand trade balance for May: NZD 469m ( prior NZD +388m)

June 24, 2021 at 11:46PM

New Zealand trade balance for May: NZD 469m ( prior NZD +388m)
NZ data … NZD barely moved. 
exports NZD 5.87bn imports NZD 5.4bn 

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Paystand Rolls Out Digital Lockbox For B2B Finance

Paystand Rolls Out Digital Lockbox For B2B Finance

June 25, 2021 at 12:46AM
by PYMNTS

Paystand, which works in blockchain-enabled B2B payments, is putting out a digital lockbox to help bring on a paperless way to handle finances, a press release emailed to PYMNTS said.

The solution is called Smart Lockbox. It was created as a response to the COVID-19 pandemic’s way of shifting everyone to remote work, which caused ripple effects of trouble for finance departments. The shift made it clear to many companies that the security concerns and manual processes would have to necessitate more digital ways of doing things.

Smart Lockbox offers a “fully digital” accounts receivable experience that can cut down overhead.

The company says there are several features that come with the new solution, including more visibility info cash flow, a remote remittance process, a simple migration experience that’s reduced to one click, a centralized collections process and information available in ERP systems including check information, reconciliation status and transaction details.

“In a post-pandemic world, everything looks very different,” said Jeremy Almond, CEO of Paystand. “Covid supercharged the push for digital transformation across the board for businesses, and there’s no question that this shift is here to stay. Smart Lockbox is the key tool that helps companies seamlessly bring their mission-critical revenue into the digital age. It’s designed to enable finance teams to turn their biggest headaches into a newfound source of power.”

The release noted the difficulty of using paper checks, which can lead to delays and errors, leading to the bottom line taking a hit. The release also stated the cost of processing even just one paper check can be around $4 to $20, which can add up over a year.

But even so, the corporate world has been sluggish on its adoption of blockchain. RowanPay recently announced that it would be launching a blockchain-powered network, intended to work with B2B and cross-border transactions. CEO Carrie Sattler told PYMNTS that this service wasn’t meant to do away with older finance means but instead to add onto increasingly complicated payment rails.

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Google Pauses Cookies Upgrade To Give Market Time To Catch Up

Google Pauses Cookies Upgrade To Give Market Time To Catch Up

June 24, 2021 at 11:56PM
by PYMNTS

Third-party cookies got something of a stay of execution with Google announcing in a company blog post that it will be delaying by two years its plan to deprecate third-party cookies by the second quarter of 2022 as “it’s become clear that more time is needed across the ecosystem to get this right.”

Under the new timeline, Chrome will phase out support for third-party cookies over a three-month period finishing in late 2023.

What getting it right seems to mean in this case is giving a not-quite-ready world of publishers, advertisers and web developers more time to catch up to the market and develop reasonable alternatives to the third-party cookies on which they are presently reliant. Alternatives, Google noted, are actually an improvement over cookies.

“We as an industry can help ensure that cookies are not replaced with alternative forms of individual tracking, and discourage the rise of covert approaches like fingerprinting,” the post noted.

Google’s Unsurprising Surprising Move

Google’s decision to delay was surprising to some, given the level of emphasis the search giant has put on getting in line with Privacy Sandbox change requirements. According to a published report, pressure within ad tech companies and publishers have been at an all-time high as Google’s deadline for phasing out third-party cookies was viewed as unmovable. But Google has pushed back deadlines before and finds itself in unique circumstances, caught between a rock and a hard place.

Google at present has two concerns to balance, managing cookies and offering better privacy protections on its platform on one hand versus antitrust concerns that allege removing cookies would damage independent publishers and ad tech platforms on the other.

“Because of the importance of this mission, we must take time to evaluate the new technologies, gather feedback and iterate to ensure they meet our goals for both privacy and performance, and give all developers time to follow the best path for privacy,” Google noted in its blog post, adding that protecting privacy is a critical goal, but not one that ought to be pursued at the expense of “the business models of many web publishers which support freely available content.”

What the Phase Out Will Look Like When It Happens

Even when third-party cookies eventually do start to disappear from Google on the company’s new timetable, it will not be a change that happens overnight. Instead, cookies will begin to fade out over a three-month period.

Currently, third-party cookies can be set to operate for more than a year in some cases. During the three-month phase-out period in 2023, Google will start shortening the maximum duration of third-party cookies from months to weeks to days all the way down to nothing by the end of the phase out in late 2023.

At least that is the schedule as of now — since Google has said it will update the timeline with greater specificity as more data becomes available.

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Walmart’s Green Dot MoneyCard Changes From Prepaid To Debit

Walmart’s Green Dot MoneyCard Changes From Prepaid To Debit

June 24, 2021 at 11:54PM
by PYMNTS

Walmart’s MoneyCard, issued by Green Dot Bank, is now being offered as a debit card linked to a demand deposit account (DDA) instead of being a prepaid card, per a Thursday (June 24) press release.

Walmart Vice President of Financial Services Julia Unger said that the move is intended to offer convenience to customers, with an improved method of managing finances. The new Walmart MoneyCard includes features such as overdraft protection and direct deposit as well as interest on savings.

New and existing Walmart MoneyCard account holders can tap Green Dot’s online banking platform, which operates similar to a traditional bank account. Customers can manage their finances with Green Dot online or in person at more than 4,500 Walmart stores or at over 90,000 Green Dot locations.

The move to change the Walmart MoneyCard from prepaid to DDA sprung from the desire to extend its customers’ access to enhanced features offered by Green Dot Bank. Walmart said more than one million customers use its MoneyCard.

The new MoneyCard solutions are intended to enable people to seamlessly manage their finances using new tools that will be enhanced over time, according to the release.

“As a financial technology company committed to seamlessly connecting people to their money, we’re always looking for opportunities to modernize products with helpful tools, great value and exceptional customer experiences,” said Brandon Thompson, executive vice president of retail, tax and PayCard at Green Dot.

Walmart CEO and President Doug McMillon said in March that the retail giant is targeting a move toward offering an all-in-one super app, which would be a “primary destination” for its customers — in-store and online.

PYMNTS CEO Karen Webster indicated in April that a super app could encompass a cross-section of services — finance, commerce, healthcare and payments.

In 1988 when Walmart Superstores first rolled out in Washington, Missouri, it took a page from similar retailers in Europe, selling a variety of general merchandise in addition to groceries. Following the company’s fourth 2020 earnings report, the retail giant indicated that it was looking to become its customers’ primary shopping destination, online and in person.

The Walmart MoneyCard Reloadable Debit Card introduced new features for account holders like a 2 percent annual percentage yield on money saved with a connected savings account.

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RegTech Regulator

VTB and Visa test ‘pay-by-glance’

June 25, 2021 at 01:01AM

FCREG Russia’s VTB is working with Visa and a local fintech to let restaurant customers make payments by looking at a camera.
VTB and Visa test ‘pay-by-glance’ …

Selected by FCREG

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RegTech Regulator

Stripe and Grab execs join Southeast Asian fintech angel investor network

June 25, 2021 at 01:01AM

FCREG Senior executives from a host of fintech giants – including PayPal, Stripe and Grab – have banded together to launch an angel investment network that will look to put money into early-stage startups in Southeast Asia.
Stripe and Grab execs join Southeast Asian fintech angel investor network …

Selected by FCREG

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RegTech Regulator

CBA rolls out receivables funding platform for small businesses

June 25, 2021 at 01:01AM

FCREG Commonwealth Bank of Australia has launched a new online lending platform that frees up working capital for small businesses on the submission of their outstanding invoices.
CBA rolls out receivables funding platform for small businesses …

Selected by FCREG

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CRIPTO UKNEWS

Shanghai Man: China retains mining control? Alipay’s ancient NFTs and Amber’s big raise

via Cointelegraph.com News at June 25, 2021 at 12:14AM

Ready Full Article: https://cointelegraph.com/news/shanghai-man-china-retains-mining-control-alipay-s-ancient-nfts-and-amber-s-big-raise

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A look at miners shifting hardware overseas, Amber raises $100m, and Bitmain temporarily shuts down sales among dropping hashrate sales.