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Credit unions approved just 39.7% of small business loan applications in September, according to the Biz2Credit Small Business Lending Index.

Any entity questioning Libra runs up against the longstanding legal precedent set by private label gift and GPR, and myriad other prepaid account offerings, says payments consultant and researcher Richard Crone.

Small merchants often have to squeeze a hodgepodge of hardware onto their counters to manage government electronic benefit transfers, a distinct niche Novo Dia Group is working to solve with an investment from Square.

Libra poses risks not only to global financial systems, but also to existing companies’ broader payments business, Senator Sherrod Brown of Ohio and Senator Brian Schatz of Hawaii said in letter on Tuesday to Visa Inc., Mastercard Inc. and Stripe Inc.

The Swiss National Bank and stock exchange SIX will jointly explore how to make central bank digital money available for the trading and settlement among financial market players.

Even with the FDIC actively encouraging groups to start banks, challenges like raising capital and low interest rates make it tough.

The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances.

The information you need to start your day, from PaymentsSource and around the web. Today: Barclays cuts cash access at U.K. post offices; Taiwan offers incentives to use mobile payments; WEX expands; Japan allows political donations in crypto.

The next generation of wireless communication will lead to more devices being connected to the internet, creating additional vulnerabilities for credit unions to guard against.

If time seems to move faster when a payments compliance deadline is looming, then owners of gas station/convenience stores in the U.S. will feel like October of 2020 will be upon them in no time.