Payments News

On The Web

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Companies

Visa Transaction Volumes Hurt As Coronavirus Crisis Deepens

“Visa Inc ( V.N ) said on Monday its transaction volumes had been hit as the coronavirus pandemic wreaks havoc on consumer spending, leading it to forecast mid-single-digit percentage revenue growth for the second quarter. “As countries have imposed social distancing, shelter-in-place or total lock-down orders, domestic spending, most notably in travel, restaurants, entertainment and […]
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Industry

America’s Smallest Banks Are Being Enlisted to Rescue Millions of American Jobs

“Banking giant JPMorgan Chase is among the biggest providers of SBA loans, but smaller institutions make up much of the market’s core. The US has more than 4,000 community banks that provide about half of the country’s borrowing for smaller enterprises, according to the trade group Independent Community Bankers of America. They’ll be needed to […]
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Security

This Startup Is Helping Local Stores ID Customers During COVID-19

“Pure play ecommerce outlets have spent years developing systems to manage transactions and verify customer identities, but most retailers on Main Street are accustomed to seeing shoppers in person and visually checking IDs. A San Francisco-based startup called Persona is offering to help those local businesses adapt by giving away its online ID verification service […]
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Industry

How Payments Can Adjust to the Coronavirus Pandemic–and Help the World Adapt

“As the catastrophic human costs of the coronavirus come into clearer focus, so too do the consequences for people’s well-being beyond the immediate imperative to safeguard lives. Taking care of our families and friends, our neighbors and communities, our employees and coworkers comes first. For that reason, companies across industries and geographies have scrambled to establish […]
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Domains

Department Store’s Tough Times Continue: S&P 500 Index Drops Macy’s

“Macy’s is one of many retailers reeling from the COVID-19 outbreak, furloughing most of its 130,000 employees after closing its 800+ stores. But the effects also have hurt Macy’s status as a U.S. business power player: the department store is being removed from the S&P 500 Index. Macy’s will be replaced by air conditioning company Carrier Global, according to S&P Dow […]
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On The Wires

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Domains

Tipalti Introduces Tipalti Pi™ — Artificial Intelligence for Accounts Payable

“Tipalti , the leading global payables automation solution, today announced Tipalti Pi™, a continuously-adaptive, integrated payables intelligence engine throughout the Tipalti platform that employs AI and machine learning to make the entire payables process smarter. This technology, which is available automatically to all Tipalti customers, proactively identifies fraud and risk, eliminates AP process errors, improves […]
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Reports

COVID-19 Crisis Highlights Need for Real-Time and New Digital Payments Services Around the World, New ACI Worldwide Research Reveals

“More than half a trillion real-time payments transactions will be processed over the next five years, according to Prime Time for Real-Time , a new global report from ACI Worldwide (NASDAQ: ACIW) and Global Data . This industry-first research, which analyzes global real-time, account-to-account payment volumes and forecasts across 30 global markets, projects a Compound […]