The companies are working to thwart abuse on the Honey platform, a deal-finding system that PayPal acquired in 2019.

As stores that went online-only start to reopen their physical locations, JPMorgan Chase is looking to bolster its position among European merchants by adding software from ACI Worldwide that's designed to support payments across multiple channels.

The fintech, which is reportedly building a checking and savings account into its app, is using its banking charter to speed the development of new services as it races its rivals to deliver an all-in-one app.

The small merchants that migrated to digital during the pandemic focused heavily on web sales, with less emphasis on e-wallets for mobile.

Apple's Chief Executive Officer Tim Cook said it would be “terrible” for iPhone and iPad users if a judge ordered the company to allow third-party app marketplaces, in addition to its own App Store, as Epic Games is demanding in a high-stakes antitrust battle.

Fake fundraising or phony customer service tricks people into handing over money or account details, Yinglian Xie of Datavisor writes.

So far, mostly larger businesses are embracing digital payments, says Avidxchange's Cameron White.

It is time for banks to figure out their role in the future financial ecosystem to avoid becoming a casualty of the creative destruction process.

How digital capabilities are supporting small business operations amid disruption

Regulators must urgently usher the unbanked or underbanked individuals into the wider financial ecosystem as they continue to craft open banking rules, says FISPAN's Clayton Weir.