T-Mobile USA Inc. and TSYS partnered to remove friction and expand services to small and midsize businesses. GoPoint by T-Mobile for Business is an mPOS solution designed to help SMBs grow and scale. Noting that SMBs have been overcharged and underserved, T-Mobile and TSYS disclosed plans to deploy VIP services across this growing market segment. Participating merchants will have access to same-day funding and a range resources, tools and services, the companies stated.
An executive order, signed into law Feb. 11, 2019, aims to solidify U.S. leadership in artificial intelligence (AI). Describing AI leadership as critical to U.S. economic growth and national security, the multipronged initiative calls for government and private sectors to expand AI research and deployments to stay apace with global AI innovation. The American AI initiative will stimulate investment in AI infrastructure while ensuring that government regulations are met, stated Sriram Chakravarthy, chief technology officer and co-founder of Avaamo.
Two key takeaways from a new report released by the Federal Reserve Board are that debit card payments continue to grow, but more slowly than previously, and with that growth has come a rise in fraud losses. The Fed was required under the Durbin Amendment to regulate debit card interchange and to file a report every two years detailing costs incurred and interchange fees associated with covered debit cards. The Fed's regulation caps debit card interchange at 21 cents plus 5 basis points for financial institutions with $10 billion or more in assets.
Finance professionals from all sectors of alternative lending convened Mon., May 6, 2019, at New York City's Roosevelt Hotel for the second annual Broker Fair. Broker Fair 2019 hosted about 600 guests and provided larger meeting spaces, a fleet of kiosks to expedite check-ins and an eclectic mix of networking and presentations. Event organizers urged attendees to register early: Sunday evening's pre-show party sold out in advance. Conference host Sean Murray, chief editor and publisher of deBanked magazine, pointed out that Broker Fair 2018 filled a void with the first-ever merchant cash advance conference. The show continues to cater to sales agents and brokers while broadening its scope.
Ingenico Group's global ecommerce division has taken a leading role in helping enterprise-level merchants reach Russian consumers with Ingenico ePayments, a new ecommerce solution. Designed to improve risk management while reducing legal fees and compliance issues, the solution enables international merchants promote their products and services across the Russian online marketplace, Ingenico representatives stated.
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