Faster payments

The deal is said to be well-suited to the coronavirus era, when in-person transactions have been limited by social distancing and other factors.

Banks are utilizing an array of overlay services to address historical market challenges, such as the continued use of checks among businesses that do not have the information or capabilities to send digital payments.

The pandemic will have an impact on customer adoption of digital technologies. Financial institutions and fintechs can achieve growth by gaining consumers' trust and changing their mindset about new platforms.

The agency's voice carries even more weight in light of the coronavirus pandemic, which has hastened the transition to digital and remote payments.

The coronavirus pandemic has greatly disrupted many people's cashflow, and made financial management much more stressful. Earned wage access is one way to provide relief to those who still have an income but find themselves financially strained. PaymentsSource senior analyst Michael Moeser talks about earned wage access with Safwan Shah, the founder and CEO of Payactiv, a company that's operated in this space for nearly a decade.

Digital wallets arguably reached a tipping point this spring when contactless payments jumped 40% in response to concerns that cash and payment terminals were helping to spread the coronavirus, Vidya Peters of Marqeta writes.

Digital wallets arguably reached a tipping point this spring when contactless payments jumped 40% in response to concerns that cash and payment terminals were helping to spread the coronavirus, says Marqeta's Vidya Peters.

Payments in Brazil are about to make a significant pivot, turning a country in which consumers rely heavily on cash and remain skeptical about payment cards into the next region to pioneer faster payments.

The U.K.’s six major banking groups are now required to have implemented the new Confirmation of Payee (CoP) scheme for Faster Payments and Chaps as part of a regulatory push to tackle the rampant rise in Authorized Push Payment (APP) fraud.

Speed isn't enough. There also has to be value and new products, says Icon Solutions' Toine Van Beusekom.