Connect with us

Blockchain

Capital On Tap Research Reveals Employees’ Spending Patterns Using Company Credit Cards

New research from Capital on Tap reveals business ownersRead More →

The post Capital On Tap Research Reveals Employees’ Spending Patterns Using Company Credit Cards appeared first on Crypto Core Media.

Republished by Plato

Published

on

New research from Capital on Tap reveals business owners want to keep an eye on their employee spending on a Friday morning as that is when employees spend the most on company credit cards.

The study analysed the trends on when/where employees spend the most on company credit cards, and found that 10am on a Friday is when employees spend the most in coffee shops.

Key findings show that:

  • Company spends spike by 225% on a Friday morning
  • Out of hours spending at the pub is the most popular business expense
  • Over 30% of weekly purchases in the UK are made at supermarkets and service stations
  • UK employees are most reliant on caffeine on a Wednesday, with the West Midlands being the coffee capital
  • Company cards are most used at supermarkets and service stations 
  • Fast food is bought more often than train tickets 
  • Workers are most reliant on caffeine on Wednesdays, with West Midlands the coffee capital 

Business owners and finance bosses may want to look away on Friday mornings as this is the most popular time for spending on company cards, according to new research. 

The data from business card provider, Capital on Tap, reveals that businesses spend more money on its company cards at 10am on Fridays than any other time during the working week, with the following hour also among the costliest periods. 

The top five times of the week for spending on company credit cards: 

  1. Friday 10am: users spend 225% more than they would usually  
  2. Tuesday 10am: users spend 223% more than they would usually 
  3. Monday 11am: users spend 214% more than they would usually 
  4. Friday 11am: users spend 213% more than they would usually 
  5. Wednesday 11am: users spend 208% more than they would usually 

Supermarkets and service stations are the most frequented locations for company credit cards, with the highest number of weekly transactions (16.7% and 15% of all weekly purchases respectively). 

There are also more purchases made on company cards in fast food establishments (4.9%) than for more traditional business activities such as rail travel (2.8%) and overnight accommodation (3.3%). In fact, Saturday lunchtime is the most popular time for fast food spending, with KFC (£11.67 spent per visit) proving more popular with workers than Burger King (£11.25) and McDonalds (£8.12). 

Out of hours spending at the pub is also a popular business expense, with end-of-week celebrations the peak time for spend in drinking establishments – 21% of this taking place between 8pm-9pm on a Friday. 

Gone are the days of the Monday morning ‘pick me up’, with only 19.2% of the week’s coffee purchases taking place at the beginning of the traditional working week. Instead, workers are looking for a midweek caffeine boost, with 21.4% of coffees being bought on a Wednesday. 

West Midlanders are the most reliant on coffee to fuel their working week, spending £9.22 in coffee shops on an average visit, while those in Wales are least dependent on the beverage (£6.56). 

Coffee spend per region: 

  1. West Midlands: £9.22 
  2. Northern Ireland: £8.79 
  3. North East: £8.79 
  4. Scotland: £8.70 
  5. Yorkshire and the Humber: £8.48 
  6. East: £8.41 
  7. North West: £8.30 
  8. South West: £7.80 
  9. London: £7.62 
  10. South East: £7.40 
  11. East Midlands: £7.22 
  12. Wales: £6.56 

David Luck, CEO of Capital on Tap, said:

“It is interesting to find when workers are spending most on their work credit cards and spot patterns in how businesses are evolving. Finding that Friday evenings are popular for pub spending and Saturdays are peak times for fast food shows that business expenditure is not as traditional as we might have thought. 

“A refreshing diversity of spend was seen on Capital on Tap cards. Given our ability to service those that traditional banks opt-out of, it’s no surprise to see service station costs, lumber yards and parking lots as part of the funding use – retailers that are traditionally popular outside of the bigger cities.”  

For more information, visit the Capital on Tap website: https://capitalontap.com/

Source: https://cryptocoremedia.com/capital-on-tap-research-reveals-employees-spending-patterns-using-company-credit-cards/

Blockchain

Facebook’s Libra Could Reportedly Arrive in January 2021 in a Scaled-Down Version

Republished by Plato

Published

on

  • Although Facebook failed to launch Libra in mid-2020 as initially planned, the social media giant could do so in early 2021.
  • Finance Times cited three people working on the project claiming that Libra’s long-awaited launch could come in January 2021 but in a scaled-down version.
  • CryptoPotato reported before that Libra already changed its original idea from being a “single global digital currency” to creating a series of various digital coins. 
  • The FT coverage asserted that Libra could see the light of day after receiving approval to operate as a payments service from the Swiss Financial Market Supervisory Authority (FINMA). However, the Libra Association would initially release just a single coin backed one-for-one by the dollar. The other set of currencies would be rolled out later, should the FINMA application is successful.
  • Facebook rattled the financial world last year after announcing plans to launch its own cryptocurrency called Libra. After receiving scrutiny from world watchdogs, the Libra project underwent numerous changes, including executive replacements.
  • Libra suffered more blows when several notable partners left. Those included PayPal, Mastercard, eBay, Vodafone, and more.
  • In an attempt to salvage the project, the Association decided to make further changes by renaming Libra’s wallet provider from Calibra to Novi.

Featured Image Courtesy of AlJazeera

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/facebooks-libra-could-reportedly-arrive-in-january-2021-in-a-scaled-down-version/

Continue Reading

Blockchain

Bitcoin Worth $500 Million Withdrawn From OKEx as Users Look for Other Alternatives

Republished by Plato

Published

on

Users withdrew a record 29,300 BTC from OKEx after the Malta-based cryptocurrency exchange resumed withdrawals yesterday. This comes after bitcoin (BTC) price kickstarted its epic freefall dropping to levels near $16,500 before bouncing back up again. But what is the reason behind the massive bitcoin exodus out of OKEx?

OKEx Sees Significant BTC Withdrawals And Deposits

As per the latest update from on-chain and market analysis firm Glassnode, OKEx users have withdrawn a record 29,300 bitcoins after the exchange gave the green signal for resuming withdrawals yesterday. These BTC transactions amount to roughly $5 billion (considering the current spot rates).

Glassnode also observed a deposit of 21,600 BTC on OKEx. Withdrawals and deposits together had a depreciating effect on the exchange’s overall bitcoin balance which reduced to around 212,000 BTC.

The potential cause behind the massive exodus of bitcoin holdings could be a result of users leaving OKEx in search of other alternatives. Binance, Huobi, and some third party wallets were at the receiving end of the initial bitcoin transfers from the exchange.

Users Dissatisfied With OKex; Seek Other Alternatives

OKex announced the resumption of withdrawals on November 19. Few folks welcomed the developments, but most of them seemed miffed with the exchange’s recent bitcoin and crypto withdrawal suspension, with a lot of users demanding compensation else they make their move to other platforms.

Large BTC Deposits Point To ‘Centralized Failure’ Risks

As reported by CryptoPotato, OKEx had more than 200,000 BTC stored in their wallets during the ‘withdrawal lockdown.’

Although OKEx CEO Jay Hao assured users that their funds are safe and that there’s no “cause for alarm,” the vastness of the above bitcoin stash is pretty alarming. Especially because it is controlled by one single organization.

What’s more disappointing is that the official who had access to the private keys was ‘out of touch’ with the management. The OKEx personnel wasn’t able to reach out to him. This is not desirable since it poses huge risks to these BTC stashes falling prey to coordinated attacks that target centralized points of failure.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/bitcoin-worth-5-billion-withdrawn-from-okex-as-users-look-for-other-alternatives/

Continue Reading

Blockchain

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Republished by Plato

Published

on

Bitcoin has a way of surprising people. This week was no exception. A few days ago, almost everyone believed that the cryptocurrency is inevitably headed to a new all-time high. And how could they not? BTC was trading at a few hundred USD below the record from back in 2017. Unfortunately, things took a turn for the worst.

Yesterday was undoubtedly a bad day for bitcoin as it plunged a total of around $3,000 in less than 24 hours. From a high of about $19,500 down to $16,200, the bears poked and showed their faces. The entire market lost around $80 billion of its capitalization as altcoins actually had it worst.

During the market dive, Bitcoin’s dominance actually increased, showing that not only altcoins failed to hold their ground, but they dropped harder than BTC. Since then, there has been a slight recovery and at the time of this writing, the primary cryptocurrency is trading at around $17,000.

The move was seemingly propelled by the news that US regulators might seek to require identity verification from crypto wallet providers. Coinbase’s CEO, Brian Armstrong, commented on the matter, expressing his worries that if the new rules are implemented, they would be rather harmful to the users and the industry, in general.

At the same time, the popular cryptocurrency exchange OKEx opened withdrawals for the first time since they were shut down around a month ago, which might have prompted users to cash out the profits that they have been sitting on. In fact, CryptoPotato reported that around $500 million were withdrawn from the exchange as the crash started to take place.

In any case, the results are here, and it remains particularly interesting to see where will bitcoin go from here.

Market Data

Market Cap: $512B | 24H Vol: 181B | BTC Dominance: 62%

BTC: $17,132 (-7.98%) | ETH: $516.86 (+1.71%) | XRP: $0.56 (+74.08%)

Bitcoin Worth $500 Million Withdrawn From OKEx as Users Look for Other Alternative. Data shows that users withdrew a total of 29,300 BTC from the popular cryptocurrency exchange OKEx right after it resumed full functionality. This happened just as bitcoin plunged $3,000 in a matter of 24 hours. The exchange also resumed the withdrawals a day earlier than announced and during the Chinese trading hours.

Bitcoin Black Friday 2020: The Sales You Better Not Miss. It’s the end of November, and with this comes the long-anticipated shopping season. For many, this is a time to enjoy massive sales. We’ve taken the liberty of listing a few sales within the cryptocurrency field that aficionados might find interesting.

Facebook’s Libra Could Reportedly Arrive in January 2021 in a Scaled-Down Version. Libra, Facebook’s long-awaited cryptocurrency project, might be set to launch in early 2021. However, the version that’s potentially hitting the market is scaled-down and specifically intended to abide by the regulations of Switzerland’s FINMA.

Research Suggests Satoshi Nakamoto Launched Bitcoin From London. New research shows that activities associated with Satoshi Nakamoto from 2008 and 2010 might have taken place in London when Bitcoin’s network went live. This brings the experts a step closer to identifying who’s behind the legendary pseudonym.

6 Possible Reasons For Bitcoin’s $3,000 Daily Price Crash. Bitcoin went through a massive crash two days ago when it lost around $3,000 of its value in a sudden red candle. These are six reasons for which this may have happened and a brief outline of what might be next to come.

Coinbase CEO Fears Rumored Regulations Proposed By The Trump Administration. Brian Armstrong, the CEO of the leading US-based cryptocurrency exchange Coinabse, has said that he’s worried about the rumored regulations concerning third-party wallet providers having to identify their users. He said that this might harm users and the entire ecosystem.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Chainlink, and Stellar Lumens – click here for the full price analysis.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

You Might Also Like:


Source: https://cryptopotato.com/bitcoin-temporary-correction-or-no-ath-this-year-the-crypto-weekly-market-update/

Continue Reading
Blockchain4 days ago

Ethereum 2.0 All Set For December 1st Launch As ETH Rallies Past $600

Home5 days ago

TramsToken (TRAMS): A Rising Star of the Fast Moving DeFi Space

Blockchain5 days ago

Crypto.com Launches Visa Cards for Canadians

Blockchain5 days ago

Crypto.com Launches Visa Cards for Canadians

Blockchain3 days ago

Bithumb Temporarily Shuts Down Some Offices As Korea Faces Another Possible COVID-19 Outbreak

Blockchain1 day ago

Five Reasons Ethereum Has Entered a New Bull Market

Blockchain5 days ago

The BitPay Black Friday Deals are Here!

Blockchain3 days ago

6,700 investors lock $10.5M in Oasis Network’s token-drop

Blockchain3 days ago

Bithumb Temporarily Shuts Down Some Offices As Korea Faces Another Possible COVID-19 Outbreak

Blockchain5 days ago

Bitcoin Price Prediction: BTC/USD Takes a Breath between $17,700 and $18,800 Price Range

Blockchain5 days ago

Polkadot Aims to Become The New Home for The $14 Billion DeFi Industry

Blockchain5 days ago

Crypto.com Launches Visa Cards for Canadians

Blockchain5 days ago

Over $200 Million Has Been Stashed Into Ethereum 2.0 Staking Contract

Blockchain5 days ago

Ethereum (ETH) Clears $600, Making A Retest Of All-Time Highs Imminent

Blockchain5 days ago

Polkadot Aims to Become The New Home for The $14 Billion DeFi Industry

Blockchain3 days ago

TRONADZ – The First Decentralized AdNetwork

Blockchain3 days ago

Billion-Dollar SBI Japan Launches “Reliable” Interest on Bitcoin Deposits

Blockchain3 days ago

Blockchain-based voting systems have potential despite security concerns

Blockchain2 days ago

ViaBTC launches new cloud mining service with BTC and ETH contracts available

Blockchain2 days ago

Five Reasons Ethereum Has Entered a New Bull Market

Blockchain5 days ago

Bitcoin short-term Price Analysis: 23 November

Blockchain5 days ago

YFI’s Andre Cronje Unveils Multi-Purpose DeFi Protocol Deriswap

Blockchain4 days ago

Blockchain4 days ago

IDEX Announces Multi-Chain Solution and Expands to Polkadot and Binance Smart Chain

Blockchain3 days ago

Bitcoin SV, Cosmos, BAT Price Analysis: 24 November

Blockchain3 days ago

Too Many Active Bitcoin Whales On Coinbase Suggest Price Is Likely To Go Down Soon – CryptoQuant CEO Warns

Blockchain3 days ago

Bitcoin Bullish Run Buoyed By Positive Sentiments from Institutions

Blockchain3 days ago

Analysts Eye New Top of $74,000 as Bitcoin Comes Within 3% of ATH

Blockchain3 days ago

3 reasons why Bitcoin price faces a major hurdle at $20,000

Blockchain3 days ago

The Ripple Effect: 5 Key Factors Behind The 100% XRP Surge

Trending