Fintech

In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.

The failure to bring decades-old processes into the digital era not only continues to cost companies dearly but has become increasingly disruptive in the current COVID-19 environment.

U.S. card issuers aren’t getting the full benefit of the contactless phenomenon because of their slower contactless card rollout strategies.

Institutions need to think about revenue streams and portfolio diversification as the coronavirus affects much of the U.S. economy.

Members of West York Area School District Employees Federal Credit Union approved the merger into First Capital, and the deal is expected to close this summer.

JetBlue Airways Corp. sold loyalty points to Barclays Plc for $150 million, making the carrier among the first in the U.S. to use the method to raise cash as the coronavirus pandemic all but extinguishes demand for travel.

One of the selling points behind multi-account payment cards is the ability to shift spending on the fly or shortly after shopping, such as to fund a recent purchase with loyalty points. During the pandemic, this feature may become a key financial management tool.

Local 229 IBEW Federal Credit Union, which had less than $2 million in assets, has merged into White Rose Credit Union.

The Independent Community Bankers of America accused the National Credit Union Administration of using the coronavirus to usher in additional changes without the normal amount of scrutiny.

Payments technology provider linked2pay is offering businesses accepting B2B payments a way to avoid late payments from customers by adding a new option to the digital credit application for purchases.