Due to the U.K.’s coronavirus lockdown, many British people are socially isolated in their homes, and rely on friends to get their groceries for them. They face the problem of how to reimburse people for their expenses, since cash is no longer acceptable.
Fast-moving payments innovation was already threatening comfortable connections between consumers and businesses before the pandemic turned the trend into an outright crisis.
IT projects are under scrutiny due to the coronavirus, not only in terms of budgets but also how fast firms can deploy automation for tasks such as business payments for companies that have turned to remote work.
Even before the coronavirus pandemic, it was becoming clear that the work of the past decade to establish the Single Euro Payment Area was paying off with real-time payments networks and opening possibilities for another European payments scheme.
The coronavirus pandemic is likely to force a great leap forward in the fight to crush paper checks, which still account for about half of B2B payments, by moving more invoice payments online.
Amid the worldwide coronavirus crisis, making cross-border payments to emerging markets has been akin to putting together a jigsaw puzzle without many of its pieces.
Admitting it "may be professional suicide" to take the reins in the midst of a global health crisis, Brady Harris says his role atop Dwolla's management chain will be "a real test of my leadership abilities."
Federal agencies are increasingly sending incorrect benefit payments to Americans, a government watchdog said as the Internal Revenue Service prepares to send more than $292 billion in direct payments to households as part of the government’s coronavirus response.
Interchange fees are a major part of the costs merchants pay to accept payment cards. While merchants seek relief from fees during a time in which their businesses face serious damage from stay-at-home edicts because of coronavirus, the credit card companies and banks quickly began to dig in their heels.
While the $2 trillion stimulus package just signed into law provides enhanced unemployment benefits, it is little solace to those out of work with dim prospects of their jobs returning to normal anytime soon.