Fintech

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.

Citizens, Regions and others say business investments initiated before the COVID-19 pandemic, including technology improvements and new consumer offerings, are on track.

The U.S. Treasury Department is in talks with some airlines about accepting their loyalty programs as collateral against government loans to help them weather the coronavirus crisis.

Partisan differences get in the way of new aid program for small businesses as SBA program runs out of money; loan servicers want a bailout as defaults are expected.

Banco Santander has launched a new standalone international money transfer service called PagoFX in the U.K. to compete with fintechs.

Airwallex has raised $160 million in a Series D fundraising round to expand global payment offerings for small businesses and enterprises.

As millions of U.S. consumers are beginning to see stimulus checks electronically deposited into their bank accounts as part of the CARES Act, many companies are wondering how Americans will spend these funds.