Payments News

On The Web

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Americans Run Down Checking Accounts as Aid Cutoff Approaches

“Americans’ cash cushions have been declining for months, most acutely among low-income households, underscoring the already-precarious financial situation of the millions of people who may soon lose their jobless benefits. The median household checking account balance surged by 65% after the arrival of stimulus checks in April, formally known as Economic Impact Payments, but balances […]
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How Bank of America helped fuel California’s unemployment meltdown

“After the Great Recession, California signed an exclusive contract with Bank of America to distribute unemployment benefits through prepaid debit cards. A CalMatters investigation reveals that to this day, no one knows how much the bank has made off the deal. Lawmakers are examining the bank’s role in mass account freezes and untold amounts of […]
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Instacart, in partnership with ALDI, will support SNAP EBT for online groceries

“Instacart is making its grocery delivery and pickup services more accessible to lower-income customers by offering customers the ability to pay for groceries using their SNAP (Supplemental Nutrition Assistance Program) benefits. This is the first time Instacart shoppers have been able to use government assistance programs when paying for groceries, and follows earlier moves by […]
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On The Wires

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Treasury Is Delivering Millions of Economic Impact Payments by Prepaid Debit Card | U.S. Department of the Treasury

“This week, Treasury and the IRS started to send approximately 8 million Economic Impact Payments (EIPs) by prepaid debit card. The distribution of EIP Cards follows the millions of payments already made by direct deposit and the ongoing mailing of paper checks and are part of Treasury’s and is IRS’s plan to deliver Economic Impact […]
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Instacart and ALDI Announce Expansion of EBT SNAP Online Payment Across 23 More States and Washington, D.C.

“Instacart, the leading online grocery platform in North America, today announced that it will be expanding its Electronic Benefit Transfer and Supplemental Nutrition Assistance Program (EBT SNAP) integration in partnership with ALDI, one of America’s fastest growing retailers. Starting today, EBT SNAP online payment will now be available at nearly 1,000 more ALDI stores across 23 […]