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The central bank released new details about FedNow, which officials hope to get off the ground before a 2023 or 2024 target launch date.August 6
![“The urgency with which the emergency [stimulus] payments were spent underscores the importance of rapid access to funds for many households and businesses that face cash flow constraints,” said Federal Reserve Gov. Lael Brainard.](data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==)
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Just as legal limbo has threatened the agency’s long-running effort to create a fintech license, a charter unique to payments companies could face a court challenge, observers say.August 5
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Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans.August 5
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The increased use of technology, along with holistic data points, can eradicate racial and gender disparity for fintech lenders in small business, says Become’s Eden Amirav.August 5
CEOBecome
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Citigroup plans to let credit card customers finance big purchases on Amazon.com over longer periods of time — a deal that may spur sales at the e-commerce giant while boosting the bank’s interest-bearing balances.August 3
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The measure would release $2 million in funding for the U.S. Postal Service to launch pilot programs to provide basic services such as checking accounts and bill payment.July 31
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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.July 31
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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.July 28
CMOMarqeta
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The Australian firm, best known for financing online purchases, is rolling out interest-free, point-of-sale loans at cash registers that it says could help U.S. merchants boost flagging sales.July 14
![“The urgency with which the emergency [stimulus] payments were spent underscores the importance of rapid access to funds for many households and businesses that face cash flow constraints,” said Federal Reserve Gov. Lael Brainard.](https://arizent.brightspotcdn.com/dims4/default/4a7a8ab/2147483647/strip/true/crop/3998x2251+0+208/resize/460x259!/quality/90/?url=https%3A%2F%2Farizent.brightspotcdn.com%2F90%2F99%2F26dab0f84aad919e2f91c299ab1b%2Fbrainard-lael-bl-080620.jpg)
