Payments

Kenya’s biggest source of foreign currency slumped last month, with the central bank indicating that shocks caused by the coronavirus will have a greater impact on the economy for the rest of this year.

Companies like Amazon, Apple, PayPal Netflix, Uber and others have made it so easy to transact that consumers are left wondering why their bank or credit union cannot provide them with the same kind of seamless and tailored experiences, says Payrailz's Mickey Goldwasser.

The drop is likely from both a decline in consumer demand and lenders becoming more cautious, according to CompareCards.

KKR & Co. said it negotiated its biggest Asian transaction, a $1.5 billion deal to buy stake in Mukesh Ambani’s India-based digital platform business, in 10 days.

The challenge posed by digital-only remittance services has prompted a rapid change at MoneyGram.

To get a better handle on the coronavirus-driven boom in Latin American e-commerce, cross-border processors are ramping up digital alternatives for shoppers who pay cash for online purchases.

Payment infrastructure platform provider GoCardless has signed cloud-based VOIP technology provider 8X8 for recurring bills, with a goal of speeding invoice payments.

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.

As the coronavirus crisis fuels even stronger demands for early earned wage access, Ceridian seeks to rise above the competition with its own on-demand digital wallet and prepaid Mastercard.

After nearly two decades with the company, Hanisch is the longest-serving member of the executive team at CO-OP Financial Services.