Payments

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.

Payments are slow, fees continue to increase, and merchants are increasingly feeling the pressure from holdbacks being imposed on them by acquirers. In the pandemic crisis, that's unacceptable, argues Nuapay's Nick Raper.

There is nothing in U.S. federal laws or general payment processes that stops businesses from taking a consumer's money and using it for payroll or to finance a marketing campaign.

Fears of catching coronavirus during the payment process has given a sharp boost in usage and awareness of contactless payments since the pandemic began, according to a new survey from Mastercard.

The coronavirus pandemic is driving up demand for digital payments at B2B network Finexio, as suppliers opt for virtual cards for faster payments.

Think about all the people who started depositing their paper checks through a mobile app. Who tried that out and then thought, “Gee, I really preferred driving 15 minutes to the bank and waiting in a line”?

Mastercard CEO Ajay Banga says he is certain that science, medicine and innovation will lead the world out of the coronavirus pandemic, but there is little indication of when that will happen.

At the start of 2020, the overriding security concern when it came to payments was fraud. After all, before the days of the global coronavirus pandemic, no one had really viewed hygiene as being a particular selling point.

Barclays has experienced an incremental £264 million (about $330 million) in contactless spend in the month since it raised its per-transaction limit in response to the coronavirus pandemic, which has created an aversion to cash and contact payments.

Paytronix, whose technology enables mobile payments and ordering at restaurants, has received $10 million in funding to help support increased demand for its services through the pandemic.

Facebook’s Libra cryptocurrency has been climbing uphill from the start, losing many prominent partners along the way — though the recent addition of Checkout.com will partially make up for those setbacks.

Payments provider dLocal has added Google Pay, allowing merchants in emerging markets to accept the digital wallet.

Not everything is in decline. T&E approval processes need to be ready for spikes in invoices for streaming content, tele-meetings and remote technology rather than air travel and hotels, said AppZen's Uri Kogan.

When Plastiq pivoted its bill-payment services to target cash-strapped SMBs instead of consumers, the startup had no way of knowing how coronavirus would affect its growth.

The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many live and work under today.

The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many now live and work under today.

Like other businesses, hospitals have been forced to make instant emergency changes because of the coronavirus. But many hospitals are concurrently getting a rush of demand for service with an unclear revenue stream.

Digital business payments are taking off during the coronavirus crisis, sending accounts payable automation firm AvidXchange to the fundraising well for the second time in 2020.