Merchant

Now perhaps more than ever, banks and their proxies need to show tact when communicating with past-due borrowers.

Luxury has gone out the window during coronavirus when it comes to credit card rewards point redemptions, according to new data from PayPal on where people are redeeming accumulated rewards.

Brick-and-mortar merchants that have shifted to online have changed their risk profile, causing conflicts with the fintechs like Square that handle their payments. And that could be an opportunity for banks.

While a business seeking payments and business management services could piece together what it needs from a few different providers, it's increasingly easier to find fintechs and startups demonstrating how all services can funnel through one platform.

Business continuity plans should be used constantly, not just when the crisis is at its peak, says the New York Fed’s head of financial services.

The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider.

To truly bridge the gap for moving small-dollar transactions to mobile and contactless, vast areas of the retail industry will need to adapt to accept cashless transactions.

Whether they take the form of a mobile wallet or a touch-free credit card, contactless payments are poised to take off as consumers — wary of using terminals and ATMs or handing cards back and forth — change their habits.

Banks are beginning to emphasize soft skills to help employees make “human” connections with customers in an environment of reduced face-to-face contact.

The Paycheck Protection Program put a premium on speed in processing and funding loans.