Like a lot of operations, such as small businesses, hospitals and suppliers, St. Joseph Episcopal Church in Queens Village, N.Y., found out it was not as “online” as it thought.
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The Financial Conduct Authority is pushing for a review of fintechs that provide payment technology, out of concern that the coronavirus may be harming their financial performance.
The coronavirus pandemic is driving a rapid increase in NatWest’s U.K. small-business merchant acquiring unit, with many being first-time card acceptors.
Checkout-free stores would seem to be the perfect fit for germaphobic shoppers during the coronavirus pandemic, but until now the model has been mostly experimental.
Customers normally receive debit and credit cards inside a branch. Now banks are shifting the process to their drive-throughs and finding alternative ways for cardholders to key in their PINs.
Unlike past economic recessions where businesses and consumers have had to adjust their payment habits and debt levels over the course of months or quarters as the economy shrank, the coronavirus-induced economic crisis has forced many to make much more abrupt financial adjustments.
The challenge posed by digital-only remittance services has prompted a rapid change at MoneyGram.
To get a better handle on the coronavirus-driven boom in Latin American e-commerce, cross-border processors are ramping up digital alternatives for shoppers who pay cash for online purchases.
As many countries and U.S. states now begin to lift stay-at-home orders, fraudsters too are being unleashed to return to familiar targets such as bank branches, ATMs and retail stores.
As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries.
The $43 billion deal was one of a series of payment mergers in 2019 that were designed to combine bank technology and merchant acquiring across multiple markets and industries while warding off ascendant fintechs offering fast access to digital payments and working capital.
Vice president of marketingMay 26
Global sales account managerLeasewebMay 22
Arizent, the parent company of PaymentsSource, has released a broad industry survey on both the impact of the crisis and emerging responses. The survey found the pandemic has forced many companies to implement new or modified business continuity plans, appoint executive response teams and invest in new technologies to enable a remote workforce. The pandemic is also expected to lead to a greater investment in technologies that reduce the reliance on face-to-face interactions for both coworkers and clients.
The coronavirus pandemic has had an immediate impact on a wide swath of consumer spending habits and payment choices — some of which may remain in place for some time after the crisis subsides — as certain categories such as travel have fallen to the wayside and others such as grocery stores have risen as more consumers eat meals at home.
There is one area of commerce that has experienced an uneven consumer response to the coronavirus crisis: subscriptions. Some companies have benefited greatly while others have not.
Ever since people started sheltering at home to limit the spread of coronavirus, payments industry experts have wondered how this would affect the use of cash and cards.
Fintechs in the payments industry saw problems coming when the CARES Act’s SBA Paycheck Protection Program opened the floodgates for millions of coronavirus-stricken small businesses to apply for loans.
During a time of business lockdowns and layoffs amid the general population attempting to stay healthy during the coronavirus crisis, one thing is quickly bubbling to the surface of the minds of consumers, small-business owners, banks and regulators: The state of the credit card market, and where it could go from here.
As millions of U.S. consumers are beginning to see stimulus checks electronically deposited into their bank accounts as part of the CARES Act, many companies are wondering how Americans will spend these funds.
While reports of toilet paper and hand-sanitizer shortages may be common stories on the nightly news, one consumer goods category is flying off the shelves at an even faster pace, one never seen before – guns and ammunition, increasing payments volume for gun shops, a merchant category financial service providers traditionally avoid.
For a growing number of people, the coronavirus has disrupted their daily lives in how they work, where they eat and how they spend their money. This drastic change has caused a boom in some sectors of the economy and a bust in other areas.
Mastercard and Judopay have teamed up to enable mobile payments through The Pharmacy Centre.May 21
Payment infrastructure platform provider GoCardless has signed cloud-based VOIP technology provider 8X8 for recurring bills, with a goal of speeding invoice payments.May 20
Getting rid of passwords is easier in concept than practice, with hundreds of initiatives designed to build something more digital, flexible and transportable. But none have taken hold, causing one developer to try an approach that rejects most of the prevailing methods.May 19
The order's removal allows the Delaware company to pursue more opportunities in its payments business.May 18
In line with the other major card brands, Mastercard is extending its EMV liability shift at gas pumps to April 2021. It is also launching a data-driven fraud protection tool for fuel merchants who have not completed their upgrade to chip-card EMV pumps.May 18
As the coronavirus crisis fuels even stronger demands for early earned wage access, Ceridian seeks to rise above the competition with its own on-demand digital wallet and prepaid Mastercard.May 18
The U.S. Patent office published a Visa patent application to create a technology gateway that could allow central bank currencies for any nation to be digitized.May 18
Criminals developing EventBot malware built it to take advantage of businesses and humans turning to mobile banking and payments in the current coronavirus crisis — but also to update itself on the fly to become more insidious in the future.May 15
The sharing economy faces its first true crisis, but the payment companies that enable nontraditional payrolls say that the best way to fuel the recovery is to simply be more creative in how people get paid.May 14
Tokenization and buy buttons began, in part, as ways to calm the security concerns of online shoppers who were wary of moving away from plastic. They’re now becoming a way to keep a health and economic crisis from turning into a security problem as in-store checkout quickly gives way to apps and websites.May 14
With the pandemic's economic toll leading to elevated billing error notices, the consumer bureau said card companies will not be cited if they fail to meet the typical time frame for resolving disputes.May 13