Technology

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

Many of the payment innovations of the past decade got an early start in Canada, building a base of users and habits the nation hopes will make the pivot to post-coronavirus commerce easier than other markets.

Automation and technology allow lenders to handle an evolving situation that changes by the day: adjustments are easily made to terms, timing and required data for loan forgiveness, says PayNet’s William Phelan.

American Express has added 26 Caribbean nations to the list of countries where it’s raised the ceiling on contactless transactions that may be conducted without PINs, to reduce consumers’ exposure to touching PIN pads.

Avivah Litan, vice president and distinguished analyst at Gartner, explains the evolving role blockchain has taken during the coronavirus pandemic. Blockchain, originally developed for use with bitcoin, provides a way to bring trust and order to the chaos of the current crisis, but it's no silver bullet.

The coronavirus pandemic has made paper money literally a dirty word, causing a rush to digital payments that may be too fast for Western Union and MoneyGram to keep up with as separate companies.

DBS Bank India is offering a real-time digital payment service for truck drivers and supply chain companies that generally have round-the-clock operations and large transaction volume to cover employee expenses.

The new product, which comes as an earlier partnership with the online lender Kabbage is sputtering, figures to appeal to companies with tight cash flows.

The global coronavirus outbreak has up-ended daily life for many consumers, including where they shop and how they pay for things. The U.K. is no exception, as issues of health and hygiene have now been introduced as important factors when it comes to both planned and impulse shopping.

New technologies can provide recommendations and proactively engage with customers and members to help them pay their bills or pay friends and proactively manage their financial well-being, says Payrailz's Mickey Goldwasser.