Fintech

Canadian consumers are changing their banking habits to reduce physical contact with others because of COVID-19, according to a new study by McKinsey & Co.

G4S Plc has entered talks with workers over a plan to slash jobs at its U.K. cash-handling business as COVID-19 spurs consumers to use other forms of contactless payment.

With the COVID-19 health pandemic wreaking havoc on jobs, investments, consumer debt and lending, secured credit cards can address a vital need for people who may not have considered the product in the past.

A deal to merge Riverset CU into Allegant Community FCU will create the third-largest credit union in western Pennsylvania.

Suppliers that still need to receive physical checks should still be able to do so. Even if they do, the process remains electronic on the accounts payable side, says AP side so that customers can issue check payments in the same batch as other electronic payments, says Nvoicepay's Angela Anastasakis.

The most recent legislative push to mandate cash is bipartisan at the outset, but there are divisions over how to put this plan into effect.

Center Parc Credit Union, which will operate as a unit of Atlanta Postal, is set to open a pair of Walmart branches this year and a free-standing facility in 2021.

Citizens Bancorp Investment has agreed to buy American Bancshares in a deal expected to close later this year.

It’s no surprise that the first step in the modernization of the payment industry was the issuance of virtual cards. These new payment instruments abstracted debit cards, credit cards, and prepaid gift and incentive cards down to their essence, says Marqeta's Vidya Peters.

Traditionally, consumers take summer vacations to recharge from the hustle and bustle of daily life, as well as to reconnect with families and friends, before moving on to the next phase of their lives such as the restart of schools or going back to work – but not this year.