Payment processing

When we go back to normal, it's our opportunity to start making long-overdue infrastructure upgrades, says Nvoicepay's Derek Halpern.

As the market deals with the short-term challenge of getting stimulus payments into the hands of citizens, the country has a unique opportunity to put the unbanked and underbanked on a long-term path to electronic payment methods, Jim Johnson of FIS says.

Partisan differences get in the way of new aid program for small businesses as SBA program runs out of money; loan servicers want a bailout as defaults are expected.

Payments unicorn Stripe contends it has the financial power to apply its technology to coronavirus medical care, remote telework, business funding, and easier onboarding for companies that have been suddenly thrust into an internet existence.

Wall Street trading arms benefited from first-quarter volatility, but it may not be enough to salvage future earnings; “unprecedented volume” of customers logging into their online bank accounts creates system overload at many banks.

While the primary focus for most credit card providers in March was on emphasizing fee forgiveness and payment deferral support, moving forward issuers need to focus on a mix of strategies to retain their cardholders' share of spend, says The Futurist Group's Demitry Estrin.

As Amazon and e-commerce companies in parallel broadened their adoption rates, they further trained consumers to expect a frictionless and speedy checkout process, says Grubbrr's Bhavin Asher.

Even before the coronavirus pandemic, it was becoming clear that the work of the past decade to establish the Single Euro Payment Area was paying off with real-time payments networks and opening possibilities for another European payments scheme.

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.

As coronavirus puts parameters on how we interact with each other, instant issuance is more important than ever, says Matica's Paul Schwerdtfeger.