P-to-P payments

The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider.

The move to digital providers could mean cheaper cash transfers for a demographic that has been hard hit by this pandemic, with both senders and receivers being financially affected.

Square has added fuel to its growing Cash transfer service by agreeing to buy Verse, a Spanish P2P app.

While open banking is a fascinating movement poised to benefit consumers and spark significant innovation in financial services, the world must weigh convenience vs. risk and approach the inherent privacy and security concerns with caution, says Imperva's Terry Ray.

Due to the U.K.’s coronavirus lockdown, many British people are socially isolated in their homes, and rely on friends to get their groceries for them. They face the problem of how to reimburse people for their expenses, since cash is no longer acceptable.

Telecommunications company Tigo Tanzania has expanded digital money transfers, allowing customers to send and receive money from their mobile wallets with other providers in the East African region.

OCBC Bank has integrated Google Pay into its P2P transfer service, thereby expanding its customers’ options for reducing their cash usage during the coronavirus crisis.

The amount of money migrant workers send to their home countries usually holds up well in a crisis. Not this time.

The “hold” period has shrunk considerably, from 10 business days to typically now three, one or zero, making it harder to spot suspicious activity, says FICO's Liz Lasher.

In the tug-of-war between banks and third parties over who controls access to customer account data, payments are primed to play a key role as banks start to take action and regulators begin to weigh in.