Fintech

Telecommunications company Tigo Tanzania has expanded digital money transfers, allowing customers to send and receive money from their mobile wallets with other providers in the East African region.

Discover transitioned all of its 8,000 U.S.-based call center personnel to work from home within a matter of days after the U.S. declared a national emergency on March 13. By March 20, Discover had 95% of its agents working from home using a thin-client device to emulate their call center desktops.

The lender behind the credit cards for Gap, J.C. Penney and other retailers took a large provision for loan losses and abandoned full-year earnings guidance as the nationwide shutdowns tied to the coronavirus pandemic have led to a sharp decline in spending on its cards.

Many companies have yet to take advantage of automation when it comes to testing their payment channels, a commonly overlooked but vitally important area, says Paragon Application Systems’ Steve Gilde.

Southwest HealthCare Credit Union agreed to merge into Canyon State because of increased competition and regulatory demands.

Google’s reported plan to offer its own version of the Apple Card is less of a play for credit and more of a play for its mobile users' bank accounts.

Overall credit card spending is down 32% while debit card purchases have declined by 12% for the week ending April 12.

Smaller institutions should prepare themselves for some of what the competition has experienced, including increased provisions for losses and declining net interest margins.

When we go back to normal, it's our opportunity to start making long-overdue infrastructure upgrades, says Nvoicepay's Derek Halpern.

Fast-moving payments innovation was already threatening comfortable connections between consumers and businesses before the pandemic turned the trend into an outright crisis.