Cash

The agency is trying to get small lenders to help underserved businesses get the loans; although the British government is guaranteeing small-business loans, banks are required to collect on delinquents.

Money transfer agent Remitly has launched a cash deposit service for its digital bank account holders on the Green Dot retailer network.

To get a better handle on the coronavirus-driven boom in Latin American e-commerce, cross-border processors are ramping up digital alternatives for shoppers who pay cash for online purchases.

Contactless, mobile and a retreat from cash are just the start. The coronavirus will upend the entire payments process, said Icon Solutions' Simon Wilson.

The path away from cash and plastic was well underway before the pandemic, and will deeping during the crisis and beyond, says Paysafe's Daniel Kornitzer.

Visa pulled its financial outlook for the rest of the year, but it already has visibility into permanent changes that result from the coronavirus — such as an aversion to handling cash.

U.K. ATM operator LINK reported that its cash withdrawals have fallen by 60% over the past month ending April 27 when compared to the same period one year earlier.

Think about all the people who started depositing their paper checks through a mobile app. Who tried that out and then thought, “Gee, I really preferred driving 15 minutes to the bank and waiting in a line”?

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.

Many companies have yet to take advantage of automation when it comes to testing their payment channels, a commonly overlooked but vitally important area, says Paragon Application Systems’ Steve Gilde.