A Federal Reserve-issued digital dollar could speed up payments, expand financial access and reduce financial crime. But it also brings trade-offs that policymakers are only just beginning to consider.

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.

It is a frustrating reality during a time of national crisis that emergency payment options for vulnerable populations remain such a complex and inefficient landscape, says Flourish Ventures' Sarah Morgenstern.

Changing regulations mix and uncertain access to international talent are among the potential challenges, but both sides favor fintech--in their own way, says QED Investors' Nigel Morris.

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.

Refinitiv, a global risk intelligence firm, has agreed to buy Giact, a company founded by a brother-and-sister team in Allen, Texas, in 2004 to enhance payment fraud protection and identity verification for banks and corporations.

The person-to-person network is being used more often for purchasing, with consumer payments to small businesses up sharply.

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.

The concept marries digital ID to the trend toward making the car’s internet connectivity an e-commerce lane.