Checking

Banks have made great strides in applying digital technology to the world of checks, but companies that receive checks still have to physically receive them in order to digitize them, says Santander's Greg Murray.

While most payment firms consider checking a time-consuming expensive relic for business transactions, one San Francisco-based fintech is going the opposite direction by adding checks to its digital platform.

Kate Fitzgerald, Senior Editor at PaymentsSource, talks to Barry McCarthy, President and CEO of Deluxe, about the role legacy providers have in the world of modern fintech.

While we can’t know what the post COVID-19 landscape will look like, we do know that business expenses will ramp back up, and with them, higher expectations for digital payments from both suppliers and vendors, says Wex's Jay Dearborn.

Europe's largest lender could start charging for basic banking services "in some markets" because low interest rates meant they were losing money, Chief Financial Officer Ewen Stevenson said on a call with reporters Tuesday after the bank reported third-quarter earnings.

For the 44.6 million households who rent, coming into the crisis almost 27% were already paying half or more of their monthly income on housing. That meant they had litte ability to save for an emergency, let alone a pandemic that would cause record job losses.

The industry can gain lifelong members in this demographic by validating their financial concerns as the economy struggles and offering guidance without judgment.

The fees have helped banks recoup costs of free or low-cost checking accounts for decades, but they can penalize low-income customers and drive them away from banking. Is there a better way?

As the coronavirus began to sweep through Europe and the U.S. during the early spring, Phillip McGriskin was in the middle of a crucial funding round.

Business-to-consumer payments are rapidly shifting to digital channels, replacing paper checks with a variety of instant-payment methods for gig work and corporate reimbursements.