Digital payments

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.

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.

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.

As credit card chargebacks accumulate during the coronavirus crisis from consumers seeking reimbursement for canceled trips and events, PayPal is extending an olive branch to merchants.

In the works for months, Mastercard Track Business Payment Service rolls out Tuesday with the goal of improving efficiency around corporate buyer and supplier payments at a time when these processes are uniquely constrained by the coronavirus pandemic.

Coronavirus has taken a massive toll on suppliers, and emerging invoice methods are getting thrust into the mainstream to rescue cash-strapped businesses.

U.S. card issuers aren’t getting the full benefit of the contactless phenomenon because of their slower contactless card rollout strategies.

A mix of consumer debt and economic anxiety is shining a light on firms that offer alternatives to revolving credit. This, in turn, creates a chance to further tie financing directly to checkout.

One of the selling points behind multi-account payment cards is the ability to shift spending on the fly or shortly after shopping, such as to fund a recent purchase with loyalty points. During the pandemic, this feature may become a key financial management tool.

The businesses that are open now are providing clues for payment hardware makers on how the retail landscape will look once the pandemic clears.

Despite PayPal's efforts to get people to receive — and spend — their stimulus checks from PayPal accounts, the coronavirus pandemic caused its revenue for the first quarter to come in below company guidance.

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.

Consumer remittance behaviors are being forced to change, with senders and recipients moving to mobile wallets, bank accounts, and cards. But many still want cash.

The short-term coronavirus response revealed most merchants will need a more robust option for digital payments — and that’s prompting fresh investment in what was expected to be a slow period.

Visa pulled its financial outlook for the rest of the year, but it already has visibility into permanent changes that result from the coronavirus — such as an aversion to handling cash.

Fears of catching coronavirus during the payment process has given a sharp boost in usage and awareness of contactless payments since the pandemic began, according to a new survey from Mastercard.

Mastercard CEO Ajay Banga says he is certain that science, medicine and innovation will lead the world out of the coronavirus pandemic, but there is little indication of when that will happen.

Like other businesses, hospitals have been forced to make instant emergency changes because of the coronavirus. But many hospitals are concurrently getting a rush of demand for service with an unclear revenue stream.

Merchant acquiring is a very face-to-face, sales-oriented business. And that culture has to change before any acquirers can convince their clients that they know how to adapt to the coronavirus pandemic.

Businesses have turned to workarounds to accommodate the coronavirus’ impact on brick-and-mortar stores, emergency measures that will likely become permanent in order for these businesses to survive into the future.