Fintech

The value of serving a specific employer or a limited field of membership has diminished over the years. COVID-19 is just the latest crisis that shows how dangerous this concentration can be.

Due to the U.K.’s coronavirus lockdown, many British people are socially isolated in their homes, and rely on friends to get their groceries for them. They face the problem of how to reimburse people for their expenses, since cash is no longer acceptable.

Business payments gateway Cashfree has established new features for its insurance, web aggregator and broker clients in India to streamline policy premium collection, claim settlement and payouts to agents and hospitals.

Businesses have turned to workarounds to accommodate the coronavirus’ impact on brick-and-mortar stores, emergency measures that will likely become permanent in order for these businesses to survive into the future.

There is no denying that the upgrade to EMV will reduce certain types of fraud by noticeable amounts, but there should be no illusion that this is a “silver bullet” to a growing fraud trend, says The ai Corporation's James Crawshaw.

Veem specializes in cross-border payments, but when small-business customers clamored for help this month with emergency SBA loans, the fintech responded.

The advent of open banking gives EMIs a once-in-a-generation opportunity to carry on doing what they do best, but doing it faster, cheaper, and with broader horizons, says Token.io's Stefano Paoletti.

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.