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A Small Business Administration program meant to help struggling entrepreneurs amid the coronavirus pandemic may have sent billions of dollars to scammers or ineligible applicants, the agency’s inspector general said.

While gift cards are often marketed as an easy way to send money to friends and family, during the pandemic they're transforming into a more versatile tool of commerce that can overtake the use cases commonly associated with cash.

By adhering to a checklist that determines acceptance, data and other steps, PCI compliance is achievable, says Qualpay's Penny Townsend.

Renaud Laplanche's fintech will give borrowers cash back when they lower their loan balances.

American Express has announced it will spend $1 billion to promote racial, ethnic and gender equity internally and externally via a recently established corporate diversity office.

The additional payments are being halted this month, according to Bill Halldin, a spokesman for the company. They were introduced for eligible staff in March as the coronavirus spread throughout the U.S.

Both payment companies reported lower than expected earnings and revenue due to reduced consumer spending; the plan is part of a $530 million initiative to combat systemic racism.

U.K. fintech Currensea has launched its first open banking-based debit card for British small businesses trading internationally. The card, which links to users’ existing high street bank accounts, builds on the pre-open banking concept of a decoupled debit card.

A comment by the megabank's CEO could be a teachable moment as financial institutions of all sizes attempt to diversify their ranks.

Blockchain has too many advantages over traditional payment solutions for merchants to ignore. By accepting cryptocurrency, merchants can tap into a growing multibillion-dollar market and get a taste of a cashless, borderless future, says Nash's Kellogg Fairbank.