The spending and account management capabilities of corporate prepaid cards have been given new purpose in a pandemic-struck world dependent on government and charity aid.
Inaccurate payments have plagued accounts payable and receivable departments from the time suppliers' contracts and invoices were stored in boxes and file drawers to the dawn of data-driven digital transactions.
The economic impact of the coronavirus pandemic could lead to the ongoing expansion of workers’ access to early, or earned wages (EWA) through advances and instant payouts, including to new types of users.
Alfie’s Beer Bus found a niche as an offbeat character at events in the U.K. — like an ice cream truck, only with alcohol. Then the coronavirus came.
Innovating is tough even in ordinary times, but during the coronavirus pandemic many payments startups had to dig into deeper reserves of creativity and resilience to meet expectations.
The coronavirus pandemic has made paper money literally a dirty word, causing a rush to digital payments that may be too fast for Western Union and MoneyGram to keep up with as separate companies.
Many companies are postponing product rollouts until the economy improves, but the Samsung Money debit card could be better suited for spending habits during the coronavirus pandemic.
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.
Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, including financial services.
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.