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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.

Payments gateway and financial crime compliance technology provider Pelican is partnering with Banking Labs to serve banks and corporations in Canada.

The firms say they can't handle crushing loan demand from small and medium-sized businesses.

Online lenders can help the agency distribute loans faster as it gets set to deploy emergency funding to small businesses.

Lenders and government guarantors can use loan technology to bring immediate relief to business owners, former OCC official Jo Ann Barefoot says.

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.

China’s consumers are shopping online again. But their purchases signal they plan to stay indoors for the foreseeable future, dashing hopes for a spending recovery as the nation contemplates its post-virus world.

SBA loans could pour billions into bank coffers; Fed bailed out government-backed market, others may suffer.

Alipay expands bank integrations; cross-border payment technology for agritech; and other information you need to start your day, from PaymentsSource and around the web.

Some institutions have seen application volumes rise by more than 300% following the Fed's emergency rate cuts, but there are fears that CUs who bulk up on home loans now could pay the price later.