Payments News

On The Web

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Fed Preparing to Finance New Small-Business Payroll Loans

“The Federal Reserve said Monday it would create a new program to finance loans that banks and other lenders make through the government’s emergency small-business lending program . The move will free up financial firms to make more loans guaranteed by the Small Business Administration’s Payroll Protection Program, part of a $2.2 trillion economic relief […]
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On The Wires

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Trans@ct By 7-Eleven® Prepaid Mastercard® Can Help Unbanked Receive Stimulus Payments Sooner Than a Paper Check With Direct Deposit

“This week, the U.S. Treasury Department began sending out economic impact – or stimulus – payments, in response to the COVID-19 pandemic. However, some people may have to wait weeks or months to receive their payments by mail. With its Trans@ct by 7‑Eleven® Prepaid Mastercard®, 7‑Eleven, Inc. provides a convenient solution to under- and un-banked individuals and […]
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QuickBooks Launches Expanded Suite of Automated Payroll and HR Services

“Intuit Inc. (Nasdaq: INTU) today announced an expanded suite of QuickBooks Online Payroll offerings that enable small businesses to run payroll and file taxes automatically, all while receiving tax penalty protection and gaining access to essential services like on-demand HR, health benefits, and workers’ compensation.”
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Ceridian Transforms the Traditional Payday With Launch of Dayforce Wallet

“Ceridian (NYSE: CDAY; TSX: CDAY), a global human capital management (HCM) company, announced today the availability of Dayforce Wallet – an on-demand pay solution. Dayforce Wallet leverages the Dayforce platform’s unique continuous calculation capabilities for an accurate, on-demand payment, instead of an approximation of earnings. It disrupts the antiquated concept of a fixed pay period […]
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Personal Income and Outlays: March 2020 | U.S. Bureau of Economic Analysis (BEA)

“Personal income decreased $382.1 billion (2.0 percent) in March according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) decreased $334.6 billion (2.0 percent) and personal consumption expenditures (PCE) decreased $1,127.3 billion (7.5 percent). The decline in March personal income and outlays was, in part, due to the response to the spread of COVID-19, as […]
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Paychex Releases HR Industry’s First Real-Time Payments Solution

“Paychex, Inc. , a leading provider of HR, payroll, benefits, and insurance solutions, is now the first HR solutions provider to give business owners the ability to leverage real-time payments to deliver pay to their employees immediately – a capability that has become increasingly important during the coronavirus (COVID-19) pandemic. Leveraging The Clearing House RTP® […]