Payments

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.

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.

Remitly and TransferWise are benefiting from consumers' shift to digital payments and a turn toward banking services as global remittance volumes drop.

Merchants prevailed in a long-running legal battle with Visa and Mastercard in the U.K. over whether interchange fees the payment card networks charged for years in Britain were anticompetitive, which could increase scrutiny on U.S. card interchange rates.

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.

Speaking during the CUSO's virtual Member Forum, PSCU CEO Chuck Fagan noted that some data shows the economy may be beginning to rebound from the coronavirus, but some sectors are still struggling.

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.

To get an edge in the rapidly expanding earned wage access market, Branch is extending mobile contactless capabilities to its Mastercard debit account by adding Apple Pay and Google Pay to its app.

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

Three corporate credit unions serving more than 70% of the industry have banded together for a new effort following Catalyst Corporate's purchase of Aptys Solutions in late May.