I'm filing my taxes with TurboTax and will probably get one of my smallest refunds ever, and I'm happy about it
- As someone with both a full-time job and freelance income, filing my taxes takes a little longer than your average process.
- I got my taxes done at a free tax clinic and at the end, they hesitantly let me know I owed a little more than $1,000 in taxes for my freelance writing income.
- That year, I sent in large amounts of quarterly payments and after going through all my deductions, ended up with a considerable refund.
- In 2018, I sent considerably less quarterly tax payments because I could tell I would make less income from freelance writing.
- With those quarterly payments and deductions, TurboTax predicts that at the time of writing I should get a refund that amounts to approximately $166 ($157 for federal and $9 for California taxes).
Bloomberg Editor Says JPMorgan's Cryptocurrency Will 'Obliterate' Ripple; is XRP in Trouble?
- The Ripple blockchain network is a payment infrastructure for cross-border transactions which banks and financial institutions can utilize to send and receive payments with low costs and faster clearing time.
- The concerns of industry executives and experts on the long-term growth trend of XRP is that if JPMorgan uses JPM Coin to settle payments between its clients, as the bank said, it will put XRP in direct competition with JPM Coin.
- The problem is, that is exactly what Ripple was built for and the company has the same vision as JPM Coin: to overtake SWIFT and establish a global blockchain network for financial institutions.
- Tushar Jain, a general partner at Multicoin Capital, said JPMorgan will “wipe the floor with Ripple,” emphasizing that banks would rather use a technology developed by banks rather than a company outside of the traditional financial sector.
JPMorgan is creating a cryptocurrency pegged to the dollar
- The new cryptocurrency will be built atop JPMorgan's Quorum blockchain technology, a variant of Ethereum that has been modified to serve the needs of a major financial institution like JPMorgan.
- Public blockchain networks like Ethereum use proof-of-work algorithms to guard against Sybil attacks, in which someone tries to take over a network by creating a lot of zombie nodes.
- But Sybil attacks aren't a concern in a permissioned blockchain like Quorum, because each node is tied to a real-world identity that has been vetted by the network owner.
- For now, ordinary retail customers of JPMorgan won't have access to the JPM Coin network, which is intended for business-to-business transactions.
- The selling point of a conventional blockchain network like bitcoin or Ethereum is that it's open for anyone to participate and therefore can enable cooperation among people who don't otherwise trust each other.
Opera shows off its smart new redesign that’s just like all the other browsers
- Opera has unveiled a new look and feel for its browser.
- Expected to ship in version 59, codenamed "Reborn 3" (R3), the new appearance adopts the same square edges and clean lines that we've seen in other browsers, giving the browser a passing similarity to both Firefox and Edge.
- The design is pared down so that you can browse "unhindered by unnecessary distractions." Borders and dividing lines have been removed, flattening out parts of the browser's interface and making them look more uniform and less eye-catching.
- At first blush, I think that Opera has come up with something that looks good, but it does feel like an awfully familiar design rationale.
- Last year's redesign maintained this concept, removing borders and dividing lines to further de-emphasize the browser's chrome and put focus where it should be: the content.
Ingenico sees mixed results in Q4
- Leading point-of-sale (POS) terminal provider Ingenico posted a 5% year-over-year (YoY) increase in revenue on a comparable basis to reach €727 million ($821 million) in Q4 2018, marking a deceleration from the 9% YoY growth in revenue the firm saw in Q4 2017.
- Further, in its earnings call, Ingenico outlined its "Fit for Growth" transformation plan, which includes reviving growth across its segments through new operating models, which the firm anticipates will save it €35 million ($39 million).
- If the firm is successful in accelerating volume, these growth efforts can allow Ingenico to cement its leading position in the space as competitors like Square, PayPal, and Worldpay are ramping up their offerings to cater to the shifting needs and expectations of merchants globally.
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Amazon, WesternUnion debut PayCode to sell goods in emerging markets and let shoppers pay in cash
- Specifically, shoppers in these markets will now be able to go into Western Union outposts and pay for their Amazon purchases in cash, which also means that payment cards or other virtual payment methods will also not be required to buy from Amazon — one of the barriers to expanding the service up to now into more emerging economies, where card and bank account penetration is much lower than in developed markets like the US and Europe.
- (Or, this being Amazon, this would be a key way for the company to start testing the waters to figure out which market might do best with a full-fledged store.) Over time, you might imagine that Amazon might extend PayCode also to markets where it has sites, too, to give shoppers more flexibility in how they pay for goods for themselves or that they are buying for others.
Healthcare payments are a $3 trillion industry — but the lack of urgency to innovate has resulted in confusion, inefficiencies, and security issues
- This is a preview of The Healthcare Payments (2018) Report from Business Insider Intelligence.
- To learn more about the trends, innovations and companies involved in healthcare payment processing, click here.
- Relative to many other sectors around the globe, the US healthcare industry has been notoriously slow to embrace new payment systems and processes.
- Now is the time for payments hardware, software, and processing firms to introduce specific solutions that accommodate the shifting landscape.
- However, before payments companies introduce new solutions, they must navigate the highly regulated and complex industry.
- In The Healthcare Payments Report, Business Insider Intelligence, Business Insider's premium research service, explains how a typical healthcare transaction is structured, identifies the major players in the industry, and pinpoints the most pressing pain points for stakeholders.
- We then look at the opportunities available to payments companies, and explore specific solutions that could help them attract partners in the space.
JP Morgan is rolling out the first cryptocurrency by a US bank to transform the payments business
- In trials set to start in a few months, a tiny fraction of that will happen over something called 'JPM Coin,' the digital token created by engineers at the New York-based bank to instantly settle payments between clients.
- Though holders of bitcoin and other digital currencies may seize on the news that a major financial institution is issuing its own crypto as bullish for the asset class, retail investors will probably never get to own a JPM Coin.
- Unlike bitcoin, only big institutional clients of J.P. Morgan that have undergone regulatory checks, like corporations, banks and broker-dealers can use the tokens.
- The final use for JPM Coin would be for huge corporations who use J.P Morgan's treasury services business to replace the dollars they hold in subsidiaries across the world, Farooq said.
Alibaba's Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M
- It not only underscores the strong market connections between China and Europe, but also the margin (and thus strategic) pressures that many smaller remittance companies are under in the wake of larger companies like Amazon building its own money-moving services, as well as competition from local players in Asia.
- While WorldFirst is based out of the UK, the company last year made a key move to expand its US operations when it was announced in August that it would acquire the retail money transfer business of San Francisco-based startup Wyre, which had built the network on blockchain technology but was selling it to focus on the other side of its business, providing currency exchange APIs to larger B2B customers.
China's Alipay digital wallet is entering 7,000 Walgreens stores
- Ant Financial, Alibaba’s financial affiliate with a said valuation of $100 billion, now sees its virtual wallet Alipay handling transactions at 3,000 Walgreens stores in the U.S. and is eyeing to reach a roster of 7,000 locations by April.
- According to a Nielsen report released last year, more than 90 percent Chinese tourists said they would use mobile payment overseas if given the option.
- Ant Financial is continuing its aggression in North America despite a major fiasco last year when the U.S. government killed its $1.2 billion plan to buy money transfer firm MoneyGram, a deal that could boost Ant’s global remittance capability.
- According to a recent report published by Ant, the number of people from third-and-fourth-tier cities who used Alipay abroad was up 230 percent during this past Lunar New Year.