Economic news

Shopify Inc. reported first-quarter revenue that topped analysts’ estimates as businesses moved swiftly online during the coronavirus pandemic.

Regulators on both sides of the Atlantic have spent the better part of three years trying to kill the London interbank offered rate. Now, they're looking to it once again to underpin hundreds of billions of dollars in loans as they seek to rescue their economies.

The strength of the post-coronavirus recovery will determine if that's enough for the digitally focused challenger to battle well-capitalized banks.

Treasury secretary says big firms that took PPP loans should apologize, not just return the money; German fintech’s shares drop 26% as audit fails to rebut accounting fraud allegations.

Lawmakers should approve a program to distribute stimulus funds using a government-sanctioned coin, which would be speedier than the current system.

By embracing this new payment market and its associated technologies now, convenience stores will attract more customers, improving their bottom line while also preparing for the future, writes DigitalMint's Marc Grens.

Lawmakers should approve a program to distribute stimulus funds using a government-sanctioned coin, which would be speedier than the current system.

PayPal subsidiary iZettle is working with U.K. urban delivery platform Stuart to offer small businesses remote payment and delivery services during the coronavirus crisis.

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.