Fintech

The global coronavirus outbreak has up-ended daily life for many consumers, including where they shop and how they pay for things. The U.K. is no exception, as issues of health and hygiene have now been introduced as important factors when it comes to both planned and impulse shopping.

Brian Brooks says coronavirus mandates, such as masks, could potentially harm banks; some recipients of the Treasury prepaid cards don’t believe they are for real.

While open banking is a fascinating movement poised to benefit consumers and spark significant innovation in financial services, the world must weigh convenience vs. risk and approach the inherent privacy and security concerns with caution, says Imperva's Terry Ray.

The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.

Western Union Co. is seeking to acquire rival money transfer company MoneyGram International Inc., according to a person familiar with the matter.

The corporate credit union has begun transitioning nearly 600 clients to the new platform.

The agency is trying to get small lenders to help underserved businesses get the loans; although the British government is guaranteeing small-business loans, banks are required to collect on delinquents.

Since March, issuers have tightened their criteria for opening new accounts and closed millions of existing ones in hopes of avoiding waves of defaults.

The new regulation is intended as a workaround for banks affected by the 2015 decision that created legal uncertainty for loans sold across state lines.

The modern mobile wallet no longer uses a card as a crutch. Instead, it sees it as an additional product that can add revenue from interchange, lending and loyalty.