Fintech

Remitly has added 11 new mobile wallets to its network, almost doubling its reach to 300 million consumers, to meet demands for cash alternatives amid the COVID-19 pandemic.

If suppliers don’t get paid in a way that works well in their processes and systems, it causes many nightmares for their accounts receivable team. Those nightmares can spread throughout the organization, causing stress and frustration, says Nvoicepay's Josh Cyphers.

Various efforts to limit cash were in motion well before the global health crisis, but merchant and consumer digital money habits being built during the pandemic will carry on for many years, thus leaving cash sidelined in many purchasing scenarios.

The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented.

Viva Wallet's cloud-based payments service will soon reach merchants in 23 European countries through an expanded acceptance agreement with Japan’s JCB card network. The move comes a few weeks after the Greek fintech became a bank.

The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented.

The product, which is also aimed at community banks, includes a "take-back" option that allows consumers to withdraw extra funds they've paid that go beyond their monthly scheduled mortgage payment.

Extending more digital pay can help integrations with other functions such as enterprise resource planning, says Nvoicepay's Kristin Cardinali.

Amid the economic and health wreckage the COVID-19 global pandemic has created, payments have stepped to the forefront in a way that has allowed banks, merchants and consumers to not only continue to do business, but also to increase communication.

Brad Windbigler, treasurer at Western Union, talks to us about how the company navigated the challenges of the pandemic — particularly as the global nature of its network meant it had to contend with moving money across parts of the world that recovered at vastly different rates from one another.