Fintech

As India’s first billion-dollar share sale in more than two years and the only credit card firm in the nation to go public, SBI Cards and Payment Services Ltd.’s float may exceed the $1.4 billion target. The question is by how much in the face of the coronavirus outbreak.

The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008.

The company said that cardholders’ spending overseas has slowed sharply, especially for travel-related purchases, and that it won’t give a forecast for future quarters until next month.

Something as simple as the sale of cheese can show how fear instantly affects the economy, disrupting trade and the transaction fees that processors rely on.

On Sep. 30, 2019. Dollars in thousands.

Banks, especially smaller ones, are more worried about the competitive inroads that Apple Pay, Venmo and others have made than they are about tech companies' incursions into other financial segments, according to a new survey by Promontory Interfinancial Network.

The Exton, Pa.-based credit union grew its commercial real estate and credit card lending in 2019 from a year earlier.

Redwood City, Calif.-based processor i2C has hired Jim McCarthy as president, two years after Visa dismissed the card network’s former innovation chief.

Customer interaction platform Podium has added a Payments feature, allowing businesses to use text messaging to accept funds directly from customers.

Coronavirus, also called Covid-19, is wreaking havoc on the stock market, with a heightened effect on the travel industry. It could also cause a drastic change in payment habits, as consumers shift to digital channels to reduce their risk of infection from handling cash.