Payment processing

The coronavirus-induced recession has broadened the addressable market for early wage access, and that's drawing investors such as PayPal and Salesforce CEO Marc Benioff, who just poured a fresh funding round into Even.

By adding direct debit from bank accounts as a payment option, YayPay feels it is in a far better position to help the accounts receivable departments of U.S. businesses expand international growth.

E-commerce sales boomed during the height of the coronavirus when consumers were stuck at home, and merchants had no choice but to accommodate the surge. But some retail industry observers are concerned about potential long-term costs from the pandemic.

Through employee education and deploying tools that allow you to rapidly thwart threats internally and externally, you can reduce the risk of payments fraud and gain greater peace of mind, says Fleetcor's Scott duFour.

Traditional U.K. businesses found innovative ways to serve their customers under coronavirus restrictions. Iconic London black taxi cabs, independent local community pharmacies, old-fashioned pubs, and QSRs have turned to in-app mobile payments to enable their businesses to carry on.

While most companies that offer early access to wages sell to employers, Earnin is providing direct access to workers in an attempt to mitigate overdrafts and subsequent bank charges.

Even where there have been innovations in the B2B payments space, often it has not accounted for the needs of both sides of the B2B transaction, and thus, adoption has been slowed, says Billtrust's Nick Babinsky.

The coronavirus’ economic fallout has drawn more attention to buy-now-pay-later options, leading to fresh creativity in business models and marketing.

Shelter-in-place orders have given homeowners the time to pursue upgrades and repairs, and banks are seizing the opportunity to help finance the projects.

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

Backed by its consumer survey acknowledging a significant shift in payment preferences to contactless options since the COVID-19 pandemic, Fattmerchant is launching software that can quickly add contactless payment acceptance for its merchants.

The Office of the Comptroller of the Currency has endured a fairly choppy legal ride since unveiling its idea five years ago to establish a special charter for non-bank fintech companies to access a nationwide financial system for lending services without worrying about being licensed to do so in all 50 states.

Borrowers say getting the loans forgiven is just as complicated as obtaining the money; payment companies are holding some merchant funds in reserve as chargebacks spike.

Nobody knows what the next six to 12 months are going to look like. That means AP needs to focus on conserving cash while keeping operations moving, says Nvoicepay's Josh Cyphers and Derek Halpern.

APEXX Global has completed a Series A fundraiser, bringing in $8 million from existing and new U.K. and Scandinavian investors to expand its payments platform.

Even in the face of a threat as substantial as coronavirus, cash is not apt to ever fully go away.

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.

Electronic payments are spiking during the coronavirus, but access to different automated versions is needed, says Qualpay's Penny Townsend.

The immediate lockdown of the nation’s economy in response to attempts to flatten the coronavirus infection curve has had a widespread impact on the revenues of all businesses, particularly small ones that are more susceptible to economic disruptions.

As innovation proceeds faster than expected, small firms will need to work with larger firms to meet the new demand, sayd DealRockit's David Carmell.