American Express

Borrowers say getting the loans forgiven is just as complicated as obtaining the money; payment companies are holding some merchant funds in reserve as chargebacks spike.

American Express has added 26 Caribbean nations to the list of countries where it’s raised the ceiling on contactless transactions that may be conducted without PINs, to reduce consumers’ exposure to touching PIN pads.

The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the pandemic.

American Express began adopting cloud computing a couple of years ago and has leaned hard on the technology to help front-line and corporate employees work at home during the coronavirus crisis, its global head of infrastructure says.

In line with the other major card brands, Mastercard is extending its EMV liability shift at gas pumps to April 2021. It is also launching a data-driven fraud protection tool for fuel merchants who have not completed their upgrade to chip-card EMV pumps.

American Express Chief Executive Steve Squeri said a majority of the company’s employees will work remotely through 2020 as it seeks to slow the spread of the coronavirus.

The Covid-19 pandemic has decimated the world’s travel industry and fatally crippled a deal calling for the Carlyle Group Inc. and Singapore sovereign-wealth fund GIC Pte to buy 20% of American Express Global Business Travel, according to unsealed lawsuits.

Carlyle Group Inc. and Singapore sovereign-wealth fund GIC Pte. Ltd. are backing out of a deal to buy a stake in American Express Global Business Travel, which has suffered losses from the Covid-19 pandemic.

American Express will delay the EMV fraud liability shift due to complications from the coronavirus, following reports that Visa has made a similar concession.

Many banks are slashing their spending. Others are changing their messaging strategies. And those banks that partner with pro sports teams are stuck in limbo, since it remains unclear when games will resume.

More companies will be eligible to apply for the four-year loans, including those with high debt loads; four-year loans will be offered to European banks with rates as low as minus 1% as the eurozone economy tanks.

The ratings firm also took negative action with respect to Ally, Synchrony, Discover, Sallie Mae and Navient, citing the impact that the coronavirus crisis is having on their revenues and profits.

"We're now in a different world," Stephen Squeri, chairman and CEO of Amex, said during the card brand's first-quarter earnings call.

Hilton Worldwide Holdings Inc. is raising cash by selling loyalty points and offering bonds as the company rides out the coronavirus crisis.

As retailers search for ways to reduce shoppers’ exposure to coronavirus, smaller merchants are reaping some unexpected improvements in checkout speed and convenience.

It was less than three months ago, though it seems like a lifetime. Mastercard CEO Ajay Banga welcomed progress in the trade dispute between the U.S. and China, but with a caveat. The good news wouldn't last if the coronavirus became a pandemic.

Citi is beefing up leadership in its consumer card lending operations by recruiting Chase exec Pam Habner — credited with engineering the success of Chase’s Sapphire Reserve card — and former Citi exec Chris Fred, who will return after several months of working at Goldman Sachs on Apple Card products.

In the battle for premium cardholders, American Express Co.’s latest weapon is the scent of leather and ear reflexology.

The Supreme Court will hear arguments on the agency’s structure; the company, desperate after losing Costco’s business, allegedly pressured and misled applicants.

With health organizations warning of a global outbreak, banks are starting to assess the risks to their bottom lines.