Category: Brandpoint Business & Finance

2024-09-05T08:01:00

(BPT) – Elise Awwad became president and CEO of DeVry University a year ago, bringing 20 years of experience and a belief in the power of education to transform lives. She answered questions about her first year and her vision for DeVry.

What three words best describe your first year as President and CEO?

I’ll say students, innovation and speed.

“Students” is my first word, because every decision I’ve made is with student success in mind. We have more than 30,000 currently enrolled students, all striving for better lives for themselves and their families. More than 13,000 students have graduated since I became president and CEO. They are my inspiration.

Next is “innovation,” because it’s core to how we think and operate at DeVry. We’re continuously changing our curriculum to match the steady beat of change in technology and workforce needs. We are creating new ways to break down barriers so that every student, regardless of their background, has the opportunity to succeed. We are enhancing our offerings and reimagining how we operate to ensure that we have the agility necessary to respond to the needs of students and the industries they will enter.

And I have to say “speed,” because this year flew by. It was easily the fastest year of my life!

You’ve made active listening a priority, engaging with hundreds in the DeVry community. How has that shaped your perspective?

I’ve made it a point to speak to as many professors, colleagues and students as possible during my first year, and I enjoyed every conversation. I visited classes and sat in on council meetings. Commencement weekend alone was a masterclass in understanding the needs of our stakeholders and impact of our decisions.

Authentic active listening is fundamental to a culture that embraces change and innovates quickly. We’re working to cultivate active listening across the university. When people feel truly heard and understood, they’re more invested in our shared success.

Clear and consistent communication has to be part of that culture, too. It can’t be just about broadcasting successes. We know we have to confront challenges head-on and clearly communicate steps we’re taking to address them. For us to be successful, faculty and staff must understand the vision and strategies as well as their roles in making them happen.

Can you describe your most memorable moment from the past year?

Commencement comes to mind first when I reflect on a year filled with memories. Standing on that stage as president and CEO and looking out at the Class of 2024, I felt an overwhelming sense of pride and responsibility. It wasn’t just another ceremony. This was about the privilege of joining these students and their loved ones in celebrating a monumental milestone, representing my colleagues, and showcasing the strength and potential of the DeVry community.

What accomplishments from the past year contribute to DeVry’s strength and potential?

We’ve accomplished a lot in the past year.

I’ll start with the agility of faculty and administrators, their pace of curriculum changes to meet real-time workforce needs. We launched new market-relevant AI course offerings in a matter of weeks and built a roadmap to continue innovating. Our faculty demonstrated how they can navigate the changing landscape by responding to GPT technologies’ impact on learning, leading the way with innovative strategies that embrace its use.

We maintained our commitment to affordability through our tuition freeze for the 2024-25 academic year, and expanded scholarship programs. Prioritizing return on student investment is central to every decision, from affordability to outcomes. Our robust Career Services offerings for students and graduates grew stronger. We forged strategic partnerships with organizations to advance our commitment to student success.

We advanced the use of AI technology, continuing our long-standing work to integrate AI in the classroom and beyond. We’re reimagining the relationship between people and technology to drive results.

What is the greatest challenge in higher education today?

Prioritizing access and affordability are at the top of the list. Education should be the ultimate equalizer, yet barriers continue to impede progress. It’s our duty as educators to identify the barriers and dismantle them. We must ensure that every individual — regardless of socioeconomic background, race or gender — has equitable access to the opportunities that education provides.

You are the first woman in DeVry’s 93-year history to be president and CEO. What does that mean to you?

Serving as the first woman president and CEO in DeVry’s 93-year history is both an honor and a tremendous responsibility. I hope my journey inspires others — especially women who may doubt their own potential.

I started as a student advisor at the university over 20 years ago. I’ve continually challenged myself to achieve what once seemed impossible. My experiences have shown me that with determination and the right support, even the toughest barriers can be overcome. I deeply believe in the power of perseverance, and I am committed to giving back in every way I can.

That’s why I established DeVry’s first Business Resource Group dedicated to supporting women in the workplace and the broader community. I also sponsored our Women+Tech Scholars program designed to empower women to start or advance careers in the tech industry.

My goal is to ensure that the path forward is a little clearer and a little easier for those who come after me.

What’s your vision for DeVry?

My vision is for DeVry to be a leading institution of higher education, where innovation, inclusivity and deep industry connections create meaningful opportunities for every learner. We strive to be the go-to source for 21st-century talent, equipping our graduates to excel and lead. Our goal is to prepare students not just to keep pace with the future but to shape it, fostering a culture of creativity and critical thinking. We aspire to be a place where every learner has a fair chance to achieve success.

2024-08-27T07:01:00

(BPT) – As soccer players know, you can’t win unless you have a game plan.

According to the U.S. Bureau of Economic Analysis, the personal savings rate in the U.S. hovers below 4%, while household debt and credit card delinquency rates are both rising, especially among Gen Z, as reported by the Federal Reserve Bank of New York.

In the game of life, saving should be just one part of your financial strategy but knowing the benefits of responsibly managing your credit is equally important. Whether you are gearing up to buy a home, get an education or start a business — understanding your FICO^® Score is an important first step in laying the foundation for financial literacy.

That’s why this summer, FICO, a leading software analytics company, teamed up with Chelsea Football Club and the U.S. Soccer Foundation to offer free financial education workshops for students and adults in the cities where Chelsea is playing on their summer tour.

Workshop participants were also able to attend their local match for free.

Here is a starter playbook of the 3 ways soccer and financial literacy are similar:

• Know Your FICO^® Score. A credit score is a three-digit number that helps lenders, such as a mortgage company, auto lender, or credit card issuer, quickly (based on data and without bias) determine how likely you are to repay a loan as agreed. The higher your number, the more likely it is lenders will offer you credit and better repayment terms such as interest rates.

  Many factors go into your FICO^® Score. It’s calculated based on data that is collected by the three major credit bureaus. This data is grouped into five categories: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%). Because your credit report changes based on your financial behaviors, like whether you pay your bills on time, so does your FICO Score. That means it’s important to know how your financial choices can impact your FICO Score.

  You can check your FICO^® Score for free at https://www.myfico.com/free.

• Have a Game Plan. Championships don’t happen accidentally. They require thoughtful planning, precise execution, and the ability to make in-game adjustments as events unfold. It’s just as important to have a game plan for your household finances to help foster positive habits such as creating a monthly budget, setting a system to stay up to date on bill payments, and keeping credit card balances under control.

  FICO also offers free educational resources on myfico.com relating to budgeting — like a college budget calculator and articles about budgeting systems and budgeting for couples.

• Focus on Continuous Learning and Improvement. Athletes continuously train to stay in shape and are always looking for ways to improve their skills. You can do the same to understand more about building good financial habits. FICO has developed many free educational tools and resources to help educate people throughout their financial journeys.

To access useful educational resources — and find out how to participate in a live or virtual Score A Better Future™ workshop — visit https://www.fico.com/sabf/.

Whether your goal is purchasing a home, financing a car, or simply starting off your financial journey strong, these educational tips can help you win in the game of life.

FICO and Score A Better Future are trademarks or registered trademarks of Fair Isaac Corporation in the U.S. and other countries.

2024-08-22T13:23:00

(BPT) – As the school bells ring in a new year, Gen Z — who now make up nearly 70 million of the U.S. population — are ready to showcase their unique style. Here’s a look at what students born between 1997 and 2012 will be wearing to set the stage for a stylish school year.

Social media and influencers are revolutionizing Gen Z fashion by driving trends and shaping new styles through viral content. The revival of aesthetics like Y2K brings back nostalgic styles with a modern twist. This blend of digital influence and retro vibes creates a dynamic fashion landscape that keeps evolving with each trending moment.

Gen Z fashion is bold, comfortable and driven by a celebration of self-expression. Walmart gets it. The retail giant recently relaunched the $2 billion brand, No Boundaries, with a team of dedicated fashion designers specifically with Gen Z in mind. The collection features new styles, high-quality materials and unbelievable pricing, catering to the latest fashion trends and budget-conscious shoppers.

Walmart’s new No Boundaries line embraces new modern shapes like baggy fit jeans, drop shoulders, cropped tees and oversized sweat sets. The new line boasts high-quality fabrics that are on-trend, including seamless stretch, power mesh, lux fleece, authentic denim and even the first-ever plant-based bra pad made from over 75% sugarcane.

So, what trends are Gen Z wearing this fall? Based on a survey of Walmart customers, up to 80% of what they purchase are pieces they can mix and match to fit their personal style and aesthetic.

Going Grunge. Baby tees, tie-dyes and oversized tops give a little rebellious, super effortless 90s-inspired look.

Sporty Streetwear. Cargos, hoodies and fluid, skater styles make a bold statement.

Prep School. A modern aesthetic featuring collegiate-inspired classics like pleated skirts, polos, boucle and plaid.

Denim on Denim. Mixing and matching high-quality denim fabrics from jeans or dresses to purses or hair bows is in.

Utility Uniform. More is more — utility clothing featuring cargos, zippers and cords paired with hardy accessories like combat boots and hobo bags.

Go-to Graphics. Graphics tees offer a vibrant, personalized way to express individual identity and creativity that effortlessly complements any ’fit.

Most items in the No Boundaries line at Walmart retails at $15 or less, with many popular styles coming in at $5 — making No Boundaries one of the most fashionable ways to save money on back-to-school shopping. With options for every body, the No Boundaries line features inclusive sizing, ranging from XXS to 5X in young women’s and XS to 3X in young men’s.

Gen Z are masters at making trends their own. Find what you need to create your own unique style with No Boundaries at Walmart.

2024-08-19T07:05:00

(BPT) – Back-to-school season is upon us, and let’s face it, getting your kids geared up and equipped with the necessary tools for success can get expensive. The cost of school supplies, new clothing, and especially technology can add up fast. However, by adopting smarter shopping strategies, you can reduce these costs and help keep expenses more manageable.

Here are some tips to help slash your family’s back-to-school tech expenses without compromising on quality or functionality.

Research your state’s tax holidays

Many items are given a “tax holiday” — certain days or weeks when sales taxes aren’t charged — which can boost your savings. Tax holidays vary by state and can include a wide range of products such as school supplies, clothing and even electronics. To find out when your state offers these tax-free periods and which items are included, visit TaxAdmin.org/2024-sales-tax-holidays. Keeping these dates in mind can help save money while ensuring your kids have what they need for the school year.

Comparison shop to find the best deals

AI is a quick and efficient new way to comparison shop for your kids’ back-to-school needs, whether it’s a new phone, graphing calculator, tablet or laptop. Many AI-powered tools can automatically compare prices and models of different gadgets saving you time and money. Additionally, browser extensions can help you find and apply coupons or offer cashback for online purchases, alert you about sales and price drops and more, ensuring you get the best value for your money.

Choose a lower-cost phone service provider

Have you checked your monthly phone bill lately? This is one cost you can definitely cut down. Consider switching to a more affordable provider like Straight Talk Wireless, which is now offering their best deal all year: one line for $25 per month when you bring your own phone. This means real unlimited data, talk and text for only $25/month for one line running on Verizon’s award-winning 5G network.

Straight Talk Family Plans can save you even more money, because the more lines you add, the more you save, making it a great option for the whole family. Straight Talk Wireless is available exclusively at Walmart, Walmart.com and Straighttalk.com. Visit StraightTalk.com/straightsavings to learn more.

Consider refurbished, secondhand and trade-ins

Opting for refurbished or secondhand electronic devices is another savvy way to cut tech expenses. Major retailers often accept your old gadgets as trade-ins, offering you store credit or discounts on new purchases. Straight Talk Wireless, for example, provides a $200 phone credit toward a new device after just 12 months of service as part of their StraightSAVINGS! deal.

It’s also a good idea to ask friends and family members if they have tech items they can pass down when they’re ready to upgrade before you spend a ton on new items.

Look into student discounts

Take advantage of student discounts offered by many major retailers to significantly cut down on your tech expenses. It’s worth exploring their websites and memberships or asking in-store about these discounts, as they can lead to substantial savings, especially on big-ticket items. Don’t forget to verify your student status with a valid .edu email or proof of enrollment through services like SheerID or UNiDAYS to unlock these offers.

Making sure your children have all the tech items they need doesn’t have to break your household budget. Using at least a few of these tips, you should be able to help cut down your family’s technology costs this year.

2024-08-05T14:01:00

(BPT) – By Irana Wasti, Chief Product Officer at BILL

Businesses, big and small, all need to manage cash flow to survive. Cash is key whether you cover day-to-day costs, pay yourself and your team, send or receive payments, or save for scaling up. So, how do you effectively manage and optimize your cash flow? Exploring different bill payment options could be a winning strategy for your business. But with so many choices out there, it can be hard to know which is the right one for your business.

Here are some tips for how to make the right decision for your business.

Different payment choices for different needs

There are six standard bill payment options: paper checks, credit cards, ACH, wire transfers, virtual cards and real-time payments. Each of these payments has its pros and cons. Ideally, you want to choose multiple business-to-business (B2B) payment options to offer vendors. You also want a flexible payment platform to balance the cost, options and speed of payments. But before we can dive into that, let’s explore the standard payment methods so you can choose which works best for your business.

1. Paper checks

Paper checks are the most traditional and familiar form of payment. Some vendors prefer them because they don’t require the recipient to share banking information. However, paying by check is slow, time-consuming, while also presents a security risk and brings negative impact on the environment. With little to no tracking information and delivery information, your check could be lost in the mail, exposing the sender’s banking information.

While you may not want to rely on paper checks as your main form of payment, you should offer it as an option to clients who are only comfortable paying with checks or for vendors who don’t accept digital payments.

2. Credit card

Want to optimize your cash flow? You can do so by paying with credit cards so you can defer payments to your next credit cycle. Credit cards are also fast, with funds typically settled in one business day. You can also collect points, miles and cash rebates while paying your vendors.

Paying with credit cards does have its drawbacks. Transaction fees can rack up quickly and be charged to your business or the vendor. Also, some vendors don’t accept credit cards as a valid form of payment.

3. ACH

The Automated Clearing House (ACH) network is a secure system for bank-to-bank transfers of digital payments. ACH is faster, involves less manual labor than paper checks and has lower processing fees than credit card payments.

Keep in mind that not all vendors accept ACH, and few banks support international ACH. Also, you’ll need to be mindful of cutoff times for same- and next-day payments, which vary by provider, and same-day transfer limits.

4. International wire transfer

An international wire transfer allows a payer to send electronic payments to a payee in a different country. While wire transfers take 1-5 business days to process, it’s a secure and easy way to pay international vendors. Another advantage of this payment method is that you can let your vendor choose which currency they want to be paid in (either in their local currency or in U.S. dollars (USD)).

The main downside to international wire is the cost, which may add up to $60 per transaction if using a bank wire (intermediary banks often add lifting fees), and it also requires the recipient to provide banking account information to the payer.

5. Virtual card

Never heard of a virtual card? It’s pretty simple. Your vendors will receive a 16-digit, one-time-use credit card token as a proxy for a physical credit card with a persistent number. Virtual cards are typically distributed to the vendor through email with invoice information.

Because a virtual card can only be used once and specifies the payment amount and expiration date, it can reduce the risk of fraud or unauthorized transactions. It’s also easy to track. It’s important to note that not all vendors accept virtual card payments, and their payment processors may apply processing fees.

6. Real-time payments

As your business scales, your company will need to make fast or instantaneous payments. Real-time payments (RTP) let you transfer real-time credit between financial institutions within seconds, 24/7, 365, with typically low fees.

Find a tech partner that gives you choice

As your business scales, having multiple payment choices is crucial. To do so, you’ll need a tech partner that provides an integrated payments platform that provides end-to-end transparency, visibility and the flexibility to give you different payment choices.

As a category leader, BILL, a leading financial operations platform for small and midsize businesses (SMBs), understands the importance of giving businesses choice when it comes to payments. When looking for a payment partner, here are some of the most important tools and capabilities you’ll need:

• A single, integrated platform that allows you to quickly track the status of domestic and international payments
• Different choices like same-day and next-day payments. You can also defer payments using credit cards.
• Low- or no-cost options.
• Seamless syncing with your accounting software, reducing manual data entry, eliminating human error and increasing company productivity.
• The ability to make secure digital payments, lowering the risks of check fraud and paper check theft.

Choosing BILL as its financial tech partner has positively impacted Marine Layer, a retail clothing chain. Kelly Ransom, Financial Accountant at Marine Layer, credits BILL with helping them manage their cash flow and making the finance accounting team more efficient. Ransom says BILL’s homepage shows all the bills scheduled for the next seven days and 30 days. “That really helps the accounting team plan ahead.”

Taking advantage of BILL’s various payment options also saves time and reduces the risk of human error. “If I had to process invoices manually, just trying to cut checks or send out wires every day would probably take up my entire day. BILL really cuts down on any sort of manual errors that might happen if we had to cut checks or do wires every day,” Ransom explains.

BILL offers all of this and more to SMBs. Not only can you use BILL’s eight different payment modalities, but you can also benefit from BILL’s payment innovations and offerings, such as:

• Paper checks: BILL paper checks are great for vendors that don’t accept digital payments. They help reduce risk of fraud as users’ bank information is not exposed.
• ACH payments: ACH via BILL is more secure than paying via a bank’s ACH.
• International wire transfers: BILL international payments can be sent from the U.S. to 137 countries and 106 currencies. BILL offers a $0 wire transfer fee and competitive exchange rates when paying in local currency. Plus, you avoid lifting fees from intermediary banks.
• Credit cards: BILL credit card payments are quick, allowing you to optimize your cash flow through deferred payments, earn rewards and more.
• Virtual cards: BILL’s one-time-use credit card tokens are perfect for businesses that want a fast, secure, cost-effective payment solution.
• Real-time payments: RTP is best for businesses that need to make urgent/time-sensitive payments or have receivers who need early access to funds. BILL RTPs can be processed 24/7, 365 days a year, including holidays and weekends.

“As a small business owner, BILL has helped me scale tremendously,” said Sade Jennings, Owner and Operator of MFABI, a U.S. company that provides logistics and fulfillment consulting. “Before BILL, I used to spend three to four hours at the bank just to send deposits to my vendors overseas. Since using BILL, I can cut down that time and seamlessly pay my vendors, who are mostly based in China, India, and South America. This has truly changed our business, improved the speed of our payment processes and allowed me to manage our cash flow efficiently. I don’t know where my business would have been without BILL.”

Are you ready to take your business to the next level? At BILL, we’re dedicated to helping businesses get more control, visibility and efficiency in their financial operations. Automating financial operations can be a game-changer for your business, saving valuable team time on inefficient manual processes and enabling you to focus on high-value strategic business needs instead. To find out more, visit Bill.com/Signup to start your risk-free trial.

2024-07-31T08:01:00

(BPT) – Planning a getaway? It’s a great time to relax, unwind and enjoy! But, you may be wondering whether to wear your jewelry, like your engagement ring or other valuable pieces, or leave them behind at home.

For an active, sporty vacation, like hiking in the Rockies, you may prefer to leave your precious jewelry safe and sound at home. But, if you’re attending a destination wedding or jetting off to New York, you’ll want to wear the jewelry you love, right? The question then becomes, how do you travel safely with it? Whether you’re wearing your jewelry or buying it while you’re there, your pieces need to be protected.

Insurance is a big part of the answer. A recent study by Jewelers Mutual found that only 40% of travelers insure their jewelry, and almost half of those rely on their homeowners’ policies to get the job done. Does your homeowner policy cover your jewelry when you’re on vacation? Some don’t. Make sure to find out if yours does, before you go. The last thing you want, after losing your engagement ring on the beach in Cozumel, is to find that loss is not covered.

“Your jewelry is more than metal and stone. It’s your story,” said Howard Stone, Vice President of Global Risk Services and Analytics at Jewelers Mutual. “It’s part of you. Wear and enjoy your treasured pieces while you’re on vacation. But doing it safely is the key.”

Here are five tips for traveling safely with your jewelry.

Get jewelry insurance. This needs to be your first step. Jewelers Mutual, the only insurer with more than a century of expertise dedicated to protecting jewelry, gives you confidence that, if your jewelry is lost, stolen or damaged, they’ll work with your jeweler of choice to get it repaired or replaced. It’s your peace of mind when wearing the beautiful pieces you love.

Document your jewelry before you go. Make a visual and written inventory of all the jewelry you’re taking with you. If it is lost or stolen, this kind of proof of ownership is key. (You should do this anyway, even if you’re not traveling.)

Don’t wear it on the beach or in the pool. Any water activities with your engagement ring or other precious jewelry should be avoided. Water, and even applying suntan lotion, can make it easier for your ring to slip off. It can also loosen prongs or clasps, which can cause your stones or pieces to fall off.

Keep your jewelry safe in your hotel room. Storing your valuables in the hotel safe is a much better choice than leaving them on the bedside table. Other choices include locking jewelry in your luggage or asking the hotel if they have a safe behind the desk for patrons to use. Whatever you do, document it all with photos on your smartphone.

Conceal, don’t reveal. If you’re walking through an area of town you’re not familiar with or could be dangerous, don’t flash your ring or otherwise advertise it. It’s also important to minimize advertising the presence of expensive jewelry on your vacation by limiting what you post on social media.

By following these simple tips, you can travel in confidence with the pieces that mean the most to you.

2024-07-31T07:01:00

(BPT) – Are you planning to hit the road for a memorable family adventure this summer? While road trips can inspire excitement and spontaneity, they also require planning — especially when it comes to finances. And finances can add unexpected bumps to your otherwise smooth road.

A recent Experian survey found that nearly 3 in 4 consumers (71%) feel inflation has impacted their road trip budgets this year. Consumers are concerned about the cost associated with trips, with nearly half (42%) approaching summer road trips with frugality in mind. The majority believe gas, accommodations and food will be their biggest expenses.

Whether you’re planning your own road trip this summer or looking ahead for a future excursion, taking steps now can pay dividends down the road.

“Road trips are a quintessential summer experience, but costs add up quickly,” said Rod Griffin, senior director of Public Education and Advocacy for Experian. “By taking proactive steps, you can save money and stay within your budget so you don’t come home to a financial headache.”

Before packing up the car for your next vacation, here are things you can do to safeguard your finances.

Expect the unexpected

No matter how much planning you do, you might hit a bump in the road during your vacation. Whether you encounter car trouble, miss a reservation or experience a weather delay, unexpected expenses may occur. Make sure you create a budget and account for surprises so they don’t sideline your finances.

Shop around for a new auto insurance policy

One major car expense is your insurance premium. If you’re unsure whether you have a good rate for your current policy, there’s an easy way to find out. With a free Experian membership, you can access Experian’s free insurance marketplace to comparison shop and potentially find a better rate on your auto insurance policy — and save on average over $800 per year.^*

This Experian service delivers multiple tailored rates from up to 40 top providers, so you can quickly find and purchase the auto insurance coverage plan that meets your needs, while helping you save money in time for your next trip.

2024-07-29T12:13:00

(BPT) – The way we pay is continuously evolving — from cash as king, to the dominance of credit cards, and now the contactless revolution. These payments developments mean business owners must have a comprehensive payments platform that allows customers to pay any way they want and gives the business owner a seamless, easy way to manage back-end tasks.

Intuit QuickBooks Payments helps solve the end-to-end payments needs for businesses, and unlocks three key benefits that any business owner should look for when choosing a payments solution.

1. Provide flexibility to your customers with a variety of payment methods

With so many payment options available today, it’s important your business allows customers to use their preferred method. This includes more traditional options for in-person, live or digital payments — cash, credit or debit card — but also newer options like contactless payments through a smartphone or widely popular payment apps, such as PayPal or Venmo. Accepting various forms of payment ensures your customers have fewer hurdles in their path to purchase, ultimately helping drive additional sales for you.

2. Get paid faster and help close the cash flow gap

Cash flow is one of the greatest pain points for a business owner. As you make sales, it can take time for the money to actually arrive into your business bank account, which can impact cash flow. With instant deposit, eligible businesses using QuickBooks Payments can receive payments from customers in as little as 30 minutes and when banks are closed, helping close the crucial gap between the sale and when you see the funds in your account. Unlocking these funds faster can allow the business to grow in a variety of ways, including investing in new equipment or marketing opportunities, purchasing additional inventory, and more. Other payment features include pay-enabled invoices that can help ensure customers are able to easily and quickly pay in just a few clicks when they receive an emailed invoice, as well as recurring invoices that automate billing for you and allow your customers to set up autopay, providing convenience for everyone.

3. Free up time when payments is integrated with other financial tools

Managing your finances as a business owner extends well beyond accepting payments. That’s why it’s important to use a payments solution that integrates seamlessly with your other financial tools. This saves time toggling between different platforms and can unlock automation features that will eliminate work for you. For example, QuickBooks offers an autoreconciliation feature, which works within your books to match deposits to payments with high confidence in accuracy, helps ensure books are up-to-date come tax time, and frees up time to focus on other areas of the business. It’s also important to look for a payments solution that works the way you do — whether it’s web-based when running your business in an office, via a mobile app if you’re on the go, or even better — one that offers both!

To learn more about QuickBooks Payments and the robust capabilities it offers today’s business owners, visit here.

2024-07-24T07:01:00

(BPT) – This summer, people are traveling and spending more money than ever. According to the Mastercard Economics Institute’s Travel Trends 2024 report, an annual industry deep dive across 74 markets, there are a few key trends:

• American wanderlust: A record-breaking 15.9 million Americans jetted off internationally in the first quarter of 2024 alone. For example, Japan welcomed over 3 million passenger arrivals in March 2024.
• Global spending spree: The cruise and airline industries are experiencing a windfall, with nine out of the last 10 record-setting spending days occurring in 2024.
• Taking much-deserved PTO: Tourists are savoring their getaways, extending their stays by an average of one extra day compared to pre-pandemic times. This trend is particularly strong for budget-friendly destinations.

But there are some individuals who never take a vacation: scammers. While people are spending, they’re waiting to pounce! As you plan your next trip abroad, follow these safety tips to protect your money before you go and while you’re away.

Booking your travel

1. Book on reputable websites

• When booking your flights, hotels or experiences abroad, only interact with reputable, established vendors.
• Before you snag yourself a deal, read the reviews and examine a site to ensure it is secure.
• Make sure the company you are buying from has a phone number or physical mailing address that you can verify before you buy.

2. Use your own device and secure Wi-Fi networks

• Never shop on a device you don’t own.
• Make online purchases on your personal device where you have more control.
• Keep your devices’ operating systems up to date. Those updates contain critical security updates that protect you from vulnerabilities.
• Don’t shop or access your financial accounts through public Wi-Fi networks, such as coffee shops or airports. The same applies while you are traveling.
• Keep in mind your information and financial accounts may be at risk if you use an unsecured network. Use your mobile data or better yet, wait until you can use your home network.

3. Know your rights

• Check what travel benefits and insurance you have in place for your booking and while you are abroad, via your bank or your credit card provider.
• Familiarize yourself with the chargeback process. This can help prepare you for when you find yourself in a tricky situation like fraudulent or unauthorized charges on your account, damaged or defective goods or incorrect charges.

Before you go

4. Protect your tech

• Leverage Multi-Factor Authentication, which combines a unique passcode (that isn’t your address, birthday or phone number) and biometrics (such as face or fingerprint) to protect your online accounts, mobile phone and digital wallets.
• With Multi-Factor Authentication, if one factor (like your username/password) is compromised, fraudsters won’t be able to meet the second authentication requirement (like a biometric or text code), ultimately stopping them from gaining access to your accounts.
• Check your bank’s website for advice on travel and how to keep them informed of your plans.
• Use a plug to charge your devices. USB and USB-Type C cables can transfer data, which could occur when you plug the cable in to a public USB/USB-Type C input. Using a traditional plug removes the risk of data transfer, charging your device in a secure way.

5. Back up to the cloud and carry hard copies

• Set your phone or device so that data is backed up to the cloud.
• If you lose your device, you will still be able to access your travel documentation.
• As an extra precaution, carry hard copies of all your travel documents.

6. Know your card’s PIN and check contactless limits

• The PIN assigned to your card is required at ATMs and at some terminals abroad.
• Different countries also have limits on how much you can spend per contactless transaction.
• Knowing your credit card and daily debit card limits and PINs can help make travel easier.

7. Set up account alerts

• Setting up alerts can help you monitor your accounts easily and quickly identify transactions that you don’t recognize.
• Should you suspect fraudulent activity, contact the financial institution that issued your card immediately.

While you’re traveling

8. Have multiple payment options

• Keep an alternate form of payment in a different bag in case your wallet is lost or stolen.
• Add your eligible debit and credit cards to a digital wallet so you can pay with your mobile device wherever digital payments are accepted in stores, online and in apps.

9. Don’t overshare

• Avoid posting your location in real time or your travel agenda on social media.
• Sharing these details allows potential thieves to keep track of where you are, making it easier for them to time a crime.
• The same goes for your email out of office — be careful what personal details you share, as it could prove useful to fraudsters.

10. Report your lost card quickly

• If your debit or credit card is lost or stolen while traveling, report it to your bank right away.
• If you previously added your card to a digital wallet and you are still in possession of your device, your card issuer may be able to update your digital wallet with your new card information so that you can continue using it while you wait for your new card to arrive.

Following these travel tips can help ensure a safe holiday. Help is just a phone call away. Just dial the number on the back of your card or visit your issuer’s website.

For more information about Mastercard’s security benefits, visit Mastercard.US/EN-US/Get-Support/Safety-Security.html.

2024-07-23T08:01:00

(BPT) – Although artificial intelligence (AI) and machine learning (ML) are groundbreaking technologies providing benefits to companies and consumers, they’ve also ushered in a new era of sophisticated tools that facilitate fraud. As businesses fight to keep up, they’re learning it’s often necessary to use those same AI and ML capabilities to defend against fraudsters.

The perceived risks from AI have increased fear and mistrust for the public, who rely on companies to safeguard them from fraud. In the 2024 Trust Index released by Telesign, nearly all Americans (87%) said they believe the companies they engage with are responsible for protecting their digital privacy, highlighting how vital digital trust is in today’s business environment. It also means that people are vulnerable if companies they engage with online don’t provide effective digital fraud protection.

AI and mistrust

With deepfakes, voice clones and increased language capabilities at their fingertips, today’s fraudsters can more easily fool many systems and customers. Telesign’s Trust Index revealed many Americans have strong concerns about the use of AI for a variety of purposes, from commercial fraud to election misinformation.

While consumers appreciate the idea of using AI for good, such as fighting misinformation, there’s a gap in their understanding of how online services they use daily employ this technology to protect them from fraud. In the Trust Index, 44% of respondents said they think AI and ML make no difference in their susceptibility to digital fraud, with only 34% being more likely to trust a company that uses AI/ML to protect them from fraud attacks.

In reality, Forbes Advisor reports that 51% of businesses use AI to help with cybersecurity and fraud management. In the near future, every business may need to fight AI with AI.

Here’s how criminals have been upping their fraud game using AI:

Phishing and social engineering

Gone are the obvious grammar errors of pre-AI phishing. Generative AI helps fraudsters easily correct mistakes, resulting in more convincing, harder-to-spot phishing attempts — which they can use to steal credentials, hijack accounts, infiltrate companies and lift customer data. Data from the year following ChatGPT’s launch showed a 1,265% increase in malicious phishing messages and a 967% increase in credential phishing.

It’s crucial for businesses to use advanced AI technology to detect signs of phishing and stop them in their tracks.

Fake accounts

The proliferation of fake accounts poses a significant threat to companies operating online. Individuals infiltrate online communities by creating fake accounts, wreaking havoc among legitimate users and tarnishing brand reputations.

A growing challenge closely associated with fake accounts is the emergence of deepfakes and voice clones. While technology firms are making strides in identifying, labeling and removing AI-generated images and videos from the digital landscape, not enough attention is paid to how the content is distributed — primarily via fake accounts and social media.

Businesses can help stop the spread of fake accounts by improving their identity verification processes to raise the bar in proving that all users are real.

How businesses can verify digital identities

Multi-factor authentication (MFA) is an effective method companies need to use to its fullest to help protect and verify customer identities. To ensure MFA is employed correctly and consistently, training employees throughout entire enterprises about social engineering and phishing risks is crucial.

One way to ensure companies activate all the latest technologies to safeguard themselves and their customers is by partnering with digital identity leader Telesign, which provides Continuous Trust™ to global enterprises by connecting, protecting and defending their digital identities. The company’s powerful machine learning and extensive data science deliver identity risk recommendations to provide fraud protection, secure communications and enable the digital economy by helping companies and customers engage with confidence.

Telesign’s new Verify API is a simple, powerful tool for secure authentication to safeguard financial transactions, verify unknown users and prevent fraudulent activity. As traditional reliance on SMS for multi-factor authentication is becoming a vulnerability, Verify API provides a versatile authentication platform enabling businesses to seamlessly verify user identities across 7 channels: Silent Verify, Push Verify, SMS, WhatsApp, Viber, RCS and email. With a single integration, Verify API helps businesses effortlessly scale new authentication channels.

Multichannel authentication capability allows businesses to choose channels that work best for their customers, improving the customer experience and broadening their ability to authenticate customers globally — with fallback capabilities in case one preferred channel is unresponsive.

Best yet, Verify API facilitates fraud protection across the customer journey, safeguarding customer accounts by authenticating every interaction and defending against suspicious behavior. With verified sender IDs (across WhatsApp, RCS and Viber), businesses can work to prevent social engineering and phishing attacks at scale, delivering more protection and enhancing user experience — offering a win-win for businesses and their customers.

Download the full 2024 Trust Index or visit Telesign.com to learn more about solutions to protect consumers from digital fraud.