Toronto-Dominion Bank, Canada’s largest lender by assets, is giving all full- and part-time employees $500 bonuses as a reward for their efforts during the pandemic.

A Small Business Administration program meant to help struggling entrepreneurs amid the coronavirus pandemic may have sent billions of dollars to scammers or ineligible applicants, the agency’s inspector general said.

While gift cards are often marketed as an easy way to send money to friends and family, during the pandemic they're transforming into a more versatile tool of commerce that can overtake the use cases commonly associated with cash.

The additional payments are being halted this month, according to Bill Halldin, a spokesman for the company. They were introduced for eligible staff in March as the coronavirus spread throughout the U.S.

Visa has seen tepid returns of payments volume as economies reopen, but the renewed virus cases and government responses have created an extra layer of uncertainty — particularly for cross-border transactions and travel.

The subprime lender cited low odds that Washington will deliver further economic relief, and the fact that $1.5 billion of loans whose deferral period expired are now more than 30 days behind.

Even as consumers shift more spending away from cash and the market for personal travel picks up, the coronavirus pandemic is still exerting a heavy toll on Mastercard's consumer and corporate spending.

Bank of America has seen a 33% increase in cash gifts flowing through the Zelle P2P app since the start of the pandemic, with total gifting volume reaching $1 billion.