A dramatic shift is underway in the currency U.S. companies use to trade internationally, especially with China, new data show. Increasingly, U.S. firms are settling trades in China’s renminbi instead of the U.S. dollar. Though the U.S. currency still dominates trade in the China/Hong Kong...
Last week WEX, a corporate payments solutions provider, announced that it extended its existing fuel price risk management program through the fourth quarter of 2015. According to a company press release, WEX purchased instruments to cover a portion of its anticipated domestic fuel price-related...
Adapt or die. It’s a simple enough phrase, usually associated with evolution of living organisms. However, it’s a mantra that is becoming more of a reality for organizations in the third-party logistics (3PL) industry.
Last week at the technology conference SAPPHIRE NOW, SAP CEO Bill McDermott announced that his company’s Ariba Network is teaming up with eBay and its B2B marketplace for streamlined approach to indirect purchases not covered by contracts and formal invoicing. Called Ariba Network Spot Buy, the service brings in...
Brazil’s Ministry of Finance released a statement last week explaining its plan to stabilize the country’s national currency. According to the release, the currently enacted transaction tax on obtaining international loans would be scaled back to exclude short-term loans. Finance Minister Guido Mantega explained that...
The interest in and demand for immediate funds transfer is sweeping the globe has spread to Finland. The country already has an urgent payment system where payments are handled twice daily but now they are following their Swedish neighbors to develop a real-time system.
Pensmore Software recently announced the launch of its latest tool designed to simplify the payment process for small to medium sized businesses (SMBs). According to a company press release, IntuitivePay™ will work for QuickBooks and QuickBooks Point of Sale. Pensmore founder and CEO Jeff White...
Earlier this week, the Dutch Central Bank warned Dutch banks about the potential risks associated with using digital currencies, such as Bitcoin. According to the statement, the anonymity associated with these payment options make them an attractive target for criminals. “The Forum notes that such...
Earlier this week PHH Corp. announced that it agreed to sell its fleet management unit – PHH Arval – to Canada-based Element Financial Corp. for $1.4 million. PHH executives said in a company statement that this move will sharpen the organization’s overall focus, enhance its...
