Payments

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.

Today, in the era of choice, the U.S. remains unprepared for fast, digital, infrequent or one-time payments from one to many.

"We're now in a different world," Stephen Squeri, chairman and CEO of Amex, said during the card brand's first-quarter earnings call.

The company reported a loss of $1.3 billion in the first quarter after setting aside more than $5.4 billion for potential loan losses.

Discover and Sallie Mae are the latest to report a surge in forbearance requests as households struggle with job loss and other hardships resulting from the coronavirus pandemic.

Financial-technology startup Stripe Inc. is starting a card-issuing service for U.S. clients as it expands beyond payment processing.

Alliance Data Systems Corp., which provides credit cards for Victoria’s Secret and J. Crew, abandoned its full-year revenue and earnings forecasts as a nationwide shutdown cuts consumer spending.

Worldline has acquired a 53% stake in Czech Republic-based GoPay, furthering an Eastern European expansion effort with an option to acquire the remaining shares in 2022.

While an EMV transit system is a form of account-based ticketing (ABT), this assimilation is problematic, says OSPT's Jean-Philippe Wolyniec.

Merchant acquiring is a very face-to-face, sales-oriented business. And that culture has to change before any acquirers can convince their clients that they know how to adapt to the coronavirus pandemic.

Discover is the latest card lender to say it's reining in credit lines as the coronavirus pandemic leaves millions of Americans jobless and struggling to keep up on loans.