Payments News

On The Web

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Users

Are Payment Apps a Solution for Banking Inequality? Not Quite.

“As underbanked and unbanked consumers use payment apps to conveniently send cash to others, manage their money better, and access otherwise out-of-reach financial services, these tools can also come with costly fees, a lack of customer service, and cybersecurity risks. If left unaddressed, payment apps could further replicate offline inequality for unbanked or underbanked users.”
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Providers

PNC Launches Checking Account for Underbanked That Limits Fees

“PNC Financial Services Group Inc. launched a bank account that limits fees to help consumers facing financial pressures worsened by the pandemic maintain their access to banking services. The checking account, which has no charges for overdrafts or insufficient funds, will cost $5 a month, a company spokesperson said. It’s designed to hold on to […]
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Users

Fintech: How COVID Affected Payments and the Underbanked | Hacker Noon

“The COVID-19 pandemic was a disruptor in the purest startup sense. The immediate shift to remote work, school, and socially distanced ways of life accelerated innovation by an estimated five years . Inequalities were laid bare across countless aspects of daily life, exposing some difficult truths. Among them: financial technology (fintech) and how developments on […]
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Users

Helping Out the Unbanked and the Underbanked Filipinos Save for Their Future

“Cebuana Lhuillier Rural Bank, the banking arm of the Microfinancial Services giant, Cebuana Lhuillier and UnionPay International (UPI) have teamed up to launch the Cebuana Lhuillier 24K card – a new Debit Card designed to empower unbanked and underbanked consumers in the Philippines to afford financial mobility for their day to day lives.”
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Users

For Small-Business Owners, a Shifting Landscape of Resources

“Small businesses across the country have been pounded by the pandemic. Entrepreneurs have been forced to make drastic cuts and pivot to new business models to keep going. Financial aid, though, is what has kept the lights on. But today, many sources, including private foundations and the federal government, that once offered loans and grants […]

On The Wires

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Users

Pay With GasBuddy® Surpasses 1 Million Users

“GasBuddy today announced its Pay with GasBuddy® payments program has surpassed 1 million users. As gas prices have climbed dramatically in the first three months of the year, the Pay with GasBuddy program has gained hyper popularity by delivering on the promise to provide consumers savings on every gallon of gasoline they purchase…Drivers who enroll […]
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Systems

Veem Releases New Product Package – Veem Local – Now Offering Free Domestic Payments for Small Businesses

“Veem , a leading provider of online payment solutions, today announced the launch of Veem Local — a new product package offering that provides a no-fee domestic payment product, including ACH and check payment options for small businesses. As many SMBs continue to face economic stress and uncertainty, the company’s latest offering aims to give […]
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Companies

Visa’s Mission to Digitally Enable Small Businesses Gains Momentum Across Europe

“Visa (NYSE: V) today announced more than 100 partners across Europe have joined the Where You Shop Matters initiative to help small business owners build digital capabilities and continue serving their communities. More than two million small firms across Europe have received support since the launch of the program in summer 2020. The announcement marks a major […]
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