Economic news

There is no denying that the upgrade to EMV will reduce certain types of fraud by noticeable amounts, but there should be no illusion that this is a “silver bullet” to a growing fraud trend, says The ai Corporation's James Crawshaw.

With more people sheltering at home and grocery stores limiting access, Domino's is seeing a surge in demand for its pizza — and a need to pay delivery drivers their tips and wages after each shift at a time when the credit card orders outpace the cash on hand at each store.

Grab Holdings Inc. Chief Executive Officer Anthony Tan warned that the coronavirus is creating significant challenges for the Southeast Asian ride-hailing startup that will require “tough decisions” about cutting costs and managing capital.

With the increase in online activity because of COVID-19, tracking down and investigating red flags might be more difficult given the volume of transactions on existing accounts, unless strict authentication measures are applied, says Giact's David Barnhardt.

The implementation of a digital dollar solution would quite likely precipitate future developments in the digital identity space, given the synergy of a dual-architecture solution, says Diginex's Mark Blick.

With the government pumping trillions of new spending into the economy, experts are questioning the Federal Reserve's ability to keep prices stable.

China’s consumers are shopping online again. But their purchases signal they plan to stay indoors for the foreseeable future, dashing hopes for a spending recovery as the nation contemplates its post-virus world.

The gig economy flourished in part for its ability to get timely payments to workers. Uber and Lyft, for example, offer express payments to drivers who need to use those funds to refill their gas tanks before picking up the next rider. But these payment innovations mean very little when there isn't sufficient money flowing into the system.

Commercial real estate is facing another crisis as companies shift to work-from-home policies. Banks and regulators should brace themselves.

Federal Reserve Chairman Jerome Powell said the central bank will maintain its muscular efforts to support the flow of credit in the U.S. economy as Americans hunker down from the coronavirus pandemic.

While financial institutions are encouraging customers to use their digital banking services rather than the branch or ATMs during the outbreak, attackers will also be looking to exploit this potential increased adoption of mobile banking and mobile payment apps, says OneSpan's Sam Bakken.

The central bank's sweeping actions suggest a cash shortage gripping sectors directly hit by the pandemic. Banks were supposed to be protected by Dodd-Frank but are still vulnerable to a funding domino effect.

As lawmakers scramble to enact coronavirus relief legislation, some industry groups have suggested Americans could be in for “one of the greatest economic disruptions since the Great Depression.”

The Fed must set up a "family financial facility" that sends billions to households and small businesses so banks don’t misdirect relief funds.

Over the next few weeks, U.S. businesses with online platforms might be tempted to relax fraud controls to free up potential friction – they shouldn’t. It could mean major fraud hits.

The Fed cuts rates near zero and will buy $700 billion in Treasuries and mortgage bonds; big banks put off stock buybacks until July at the earliest.

Cash use will suffer because of this outbreak, and there are factors other than germs contributing to this trend. A growing work-from-home workforce will funnel more shoppers into digital channels, including ones they may have never tried before.

The central bank has been under increasing pressure to act as investors have been losing faith in the Trump administration's efforts to contain the economic fallout.

The increase in quarantined customers has forced food delivery companies to balance a potential boom in orders alongside the risk of spreading sickness to both customers and drivers.

The Amazon effect in financial services will be much bigger than the one experienced by the retail industry—it will have a deeper impact due to the financial services industry being bigger and more vulnerable, and because consumers are now more comfortable with change, says TigerGraph's Todd Blaschka.