Coronavirus

It's not just payment habits that are changing, but the very nature of what people are willing to buy one another.

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.

Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.”

The region now leads the nation in virus cases, and with winter lurking the fear is that the outbreak will only get worse.

In its lawsuit against Visa, the Justice Department alleges the card network's $5.3 billion deal to buy Plaid is meant to neutralize a competitive threat — even though Visa and Plaid do not see themselves as competing with each other.

“The asset management industry in particular has found it is quite productive to work from home,” says Mary Erdoes, who runs asset and wealth management at JPMorgan Chase.

Contactless payments, staging and early wage access have built a permanent following and should be part of any alternative financial services mix, says DigitaMint's Marc Grens.

As the coronavirus pandemic unfolded in early 2020, Visa deployed street-level teams in 66 cities across the U.S. to meet with small-business owners to help them transition to a digital-first world.

Consumers will still prefer minimizing physical contact, while relying on digital payments and looking forward to adopting smarter methods that are secure, convenient, and less time-consuming, says Global Market Insights' Vinisha Joshi.

Wells Fargo, JPMorgan Chase and others cut back on 7(a) lending to focus on originating Paycheck Protection Program loans. Smaller banks such as Live Oak and Byline gained market share by targeting niche industries and originating bigger loans.

A new service from NCR aims to reduce surface transmission of the coronavirus through the application of an antimicrobial cleaning product that kills germs.

Michael Moeser, Senior Analyst at PaymentsSource, talks to Alex Fisher, Vice President of Retail at Afterpay, an Australian company, about the factors behind the growth of the global 'buy now, pay later' market.

A prosperous decade leading up to the pandemic had left lenders in good shape, but they're worried the economic shock to the state's most vital industry could linger into 2022.

Reflecting the rapid transition to digital payments, PayPal has reported its strongest growth in total payment volume and revenue in its history, coupled with strong growth for Venmo, its P2P app.

Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.

Credit is tightening to 2008 levels at a time when small businesses need help the most, former SBA chief Karen Gordon Mills says.

A new service from NCR aims to reduce surface transmission of the coronavirus through the application of an antimicrobial cleaning product that kills germs.

As the pandemic and economic downturn take their toll on consumer spending, the card companies are relying on scale, partnerships and subsidiaries to turn consulting, security and fast technology deployment into new and sustainable revenue streams.

MoneyGram's digital offerings are attracting different types of consumers into the company fold, CEO Alex Holmes said during the third-quarter earnings call.

Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000.