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In supporting the economic recovery from the coronavirus pandemic, lenders have a chance to restore public trust damaged in the last financial crisis. But they face tough decisions on dividend cuts, executive pay, furloughs and deeper changes to their business model in the process.

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.

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.

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.

While much of the world is sheltering at home to deter the spread of coronavirus, there's still a need for essential workers to travel — and an opportunity for the development of in-car payments technology, which could allow consumers to pay for gas or food without handling cash or other potentially infected surfaces.

With access to comprehensive and accurate financial data delivered through advanced APIs, financial services providers no longer have to develop personalized experiences themselves, argues Envestnet's Brandon Rembe.