Payments

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.

United Airlines Holdings Inc. is planning to raise $5 billion by borrowing against its frequent-flyer program, stepping up efforts to boost liquidity amid the Covid-19 pandemic.

Mobile commerce provider Bango has added Softbank Corp. customers to its list of Japanese mobile phone carriers whose customers can now make purchases in their Amazon accounts and charge the cost to their phone bill.