Acquirers

Facing Wall Street analysts for the first time after the murder of George Floyd, CEOs of major payment companies joined other financial services firms in promising to improve fairness and opportunities for Black people and other underrepresented groups.

The coronavirus outbreak initially looked like it might torpedo U.K.-based Paysafe’s plan to expand in the U.S. in 2020. But several months into the pandemic, the payments conglomerate sees ways it can grow by helping bruised small businesses retool operations.

Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans.

The point of sale terminal industry was already under pressure to go digital before the coronavirus pandemic made this transition much more crucial to its survival.

Payment processor Elavon purchased Sage Pay four months ago, completing the acquisition on March 11. Two days later, Elavon's entire workforce was operating remotely as the coronavirus forced it into lockdown.

A letter from the National Taxpayers Union requested changes, such as requiring federal credit unions to fill out a certain IRS form for non-profits, before lawmakers considered easing member business lending limits.

Businesses affected by the pandemic are accepting online and touchless in-person payments from consumers with the help of technologies developed originally for B2B invoicing and payments.

The coronavirus outbreak is still very much an economic crisis, but that doesn't mean the best solution is to keep on selling.

Even the independent sales organizations that heeded the warnings of colleagues and experts for the past decade about not letting advancing payments technology pass them by weren't fully prepared for what the coronavirus pandemic would throw at them.

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.