Payments

With the coronavirus pandemic forcing far more e-commerce transactions — and thus, more spending on cards instead of cash — loyalty and rewards are vital to creating lasting consumer habits.

A merchant’s payment provider can play a decisive role in determining whether the merchant is able to ensure business continuity during force majeure events, says Credorax’s Igal Rotem.

A surge in demand for home loans drove the increase, but the second quarter could see a slowdown in borrowing and more delinquencies as consumers contend with the economic fallout of the coronavirus pandemic.

The strength of the post-coronavirus recovery will determine if that's enough for the digitally focused challenger to battle well-capitalized banks.

Discover Financial Services said Thomas Maheras will serve as its chairman after the death of Lawrence Weinbach.

Marriott International Inc. raised $920 million in cash through deals with co-branded credit card companies as it rides out the pause in travel due to the coronavirus.

Consumer remittance behaviors are being forced to change, with senders and recipients moving to mobile wallets, bank accounts, and cards. But many still want cash.

Stay-at-home orders and business shutdowns have led to a sharp decline in consumer use of credit and debit cards.

The path away from cash and plastic was well underway before the pandemic, and will deeping during the crisis and beyond, says Paysafe's Daniel Kornitzer.

What works for regular commuters may not work for occasional riders, says OSPT's Jean-Philippe Wolyniec.

The shortage of personal protective equipment (PPE) for medical workers is one of the most troublesome elements of the coronavirus outbreak, though prior work to declutter cross-border supply chain payments provides some hope.

Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.

There is a need and opportunity here to rebuild the aging, legacy infrastructure in payments, at the IRS, and within the banking system. It is not a technology problem. It is an opportunity, says payments consultant Collin Canright.

American Express Co., long synonymous with premium travel rewards, will now offer a meditation app and credits for streaming services as the coronavirus pandemic forces its customers to stay home.

The short-term coronavirus response revealed most merchants will need a more robust option for digital payments — and that’s prompting fresh investment in what was expected to be a slow period.

Whether preparing for probable market changes or adapting to unexpected ones, top-performing finance leaders need to be adept at agile business planning in the face of uncertainty, says Vena Solutions' Darrell Cox.

Visa pulled its financial outlook for the rest of the year, but it already has visibility into permanent changes that result from the coronavirus — such as an aversion to handling cash.

Consumer groups are poised to take the bureau to court over its gutting of underwriting requirements, while House Democratic leaders could attempt a repeal through the Congressional Review Act.

A former economist says high-ranking officials engaged in “legally risky” behavior to downplay consumer harm; online payments and contactless transactions jumped in the first quarter, and some think the new habits will stick.

Consumers are using their debit and credit cards less, and that's causing a decline in interchange income for credit unions and banks.