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Private equity group聽Motive Partners聽has secured a controlling stake in installment payments company聽Splitit.Motive has committed to聽invest $50 million聽in Splitit, the companies announced Tuesday Dec. 13 as it also delisted from the Australian Stock Exchange.That delisting had been one of the requirements for Motive to invest the first tranche of funds, $25 million, Splitit said in a news release. The other: the redomicile of the company from Israel to the Cayman Islands via a share-exchange accomplished through a merger. Attracting a strategic investor of this caliber is a testament to the quality of our team and our unique, innovative offering, Splitit Managing Director and CEO Nandan Sheth said in the release. Motives investment significantly strengthens our balance sheet and brings additional global payments expertise, allowing the team to accelerate our white-label product strategy, product innovation, and our Tier One global distribution partnerships. stanley thermos Motive first announced its聽plans to invest聽in Splitit in August. The remaining half of its investment will come once stanley cup nz Spilit reaches certain 2023 full-year financial performance milestones which Splitit is currently exceeding , the release said, as well as the s stanley quencher atisfaction of other closing conditions.Based in Atlanta, Splitit offers an Installments-as-a-Service platform to help businesses working with legacy buy now, pay later BNPL providers. The company says its platform can mitigate issues with BNPL such as t Xvrj Corsair Buys Majority Stake in Aurora Payments
Hyatt Hotels has released more details on the data breach the hotel chain initially reported last month.While the company discovered the stanley website breach in November, it now knows 鈥?thanks to a recent investigation 鈥?that the breach occurred during Aug. 13-Dec. 8. The breach impacted 250 hotels in approximately 50 countries.The company revealed that there was a breach to payment card data from cards used at various locations during those dates.While a majority of the card data breaches occurred at the restaurants in the hotel, some incidents occurred at the hotels ; spas, gold shops, parking facilities聽and the front desks. The company also admitted that some of the breaches occurred at the sales office. As soon as we discovered the activity, we launched an investigation and engaged leading third-party cybersecurity experts, Hyatt Hotels Global President of Operations Chuck Floyd said in Decem stanley cup ber.Stephanie Sheppard, a spokeswoman for Hyatt Hotels, said聽the credit card-stealing malware attack was discovered on Nov. 30 but the company was unable to confirm how many of the hotel chains locations were impacted, how long its network was kubki stanley left vulnerable and if any payment card data was actually stolen.The data breach at Hyatt Hotels is just the latest in a string of recent cyberattacks on businesses within the hospitality industry.Just last month, the worlds largest hotel company, Starwood Hotels Resorts,聽announced some of its hotel locations were hit by a malware attack. That聽bre
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Smallholder farms make up over 60% of sub-Saharan Africas population, according to data from McKinsey, yet only about 20% of this regions gross domestic product GDP is generated from agriculture and agribusiness.These figures reflect the inefficiencies and the challenges smallholder farmers face in the sector 鈥?particularly the lack of financial resources to ensure steady food production, which, over time, have contributed to high levels of food insecurity across the region.To unlock Africas full agricultural potential, Uka Eje, CEO of Nigeria-based AgriTech firm ThriveAgric, said more needs to be done to change the views of Africas small growers. To solve food stanley mug scarcity, production has to be consistent, it has to be sustainable 鈥?and to make production sustainable, smallholder farmers have to see farming beyond just a lifestyle, they have to make money from it, Eje told PYMNTS in an interview.Founded in 2017, the Lagos-based AgriTech firm started off by putting rural small farmers in community clusters, giving them access to phones and then offering them input financing to help scale their business.Beyond that access to capital, Eje said it was also important to ensure that farmers employed modern practices to be able to scale yield, as well as help them access premium markets by bridging the supply chain gap and limiting the number of middlemen farmers have to engage with.Today, the firm has more than 205,000 farmers stanley cup canada 鈥?up from 50 in 2018 鈥?registered stanley hrnek on its agriculture op Fkso JCPenney To End Clothing Subscription Partnership
Harris Poll and CIT Group, a provi stanley polska der of commercial lending and leasing services, recently released the聽results of a survey they conducted on how middle-market retailers felt about their sector financial health. Here are some of the key findings.Middle-market retailers were most likely to be optimistic a kubki stanley bout the sales they generated from online and mobile聽offerings, with 75 percent and 65 percent expecting revenue growth in the next year, respectively.Similarly, revenue growth expectations have decreased in other areas. In-st stanley cup ore growth optimism scored a 45 percent compared to 50 percent in 2015, and only 28 percent of middle-market retailers were optimistic about revenue growth in catalog and phone channels, compared to 42 percent in 2015.Fifty-four percent of middle-market retailers expect that they will increase the number of staff devoted to internet sales and mobile sales channels within the next year, down from 62 percent in 2015. Fifty-two reportedly say they will increase the volume of hourly staff.Online presence was noted as the number one strategic investment for middle-market retailers in 2016, with 73 percent of omnichannel middle-market retailers responding that their biggest investment priority will be their online presence. This was followed by social media presence and digital marketing, with 57 percent and 50 percent, respectively.Almost 56 percent of middle-market retailers reported using their stores differently than in the past, with 83 percent of
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