Merchant

The about-face followed a swift backlash from affected employees, who earn more than $250,000 a year, according to people with knowledge of the situation.

The legislation would help institutions with less than $15 billion of assets avoid regulatory requirements resulting from participating in the small-business relief program.

The Memphis company is looking to take out more costs than initially planned due to the economic uncertainty brought on by the coronavirus pandemic.

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.

There's going to be a strong emphasis on the creation of financial products underneath innovative, customer-centric innovation from big tech companies, says FIS' Raja Gopalakrishan.

Small and midsize merchants in North America continue to struggle with the effects of COVID-19 on their bottom lines, but those who have developed an online presence and made changes to in-store payments have found the process to be a vital step.

Several large mobile point of sale projects are hitting the market at once to reach financially troubled retailers, with JPMorgan Chase making use of a three-year-old acquisition to push back against the technology firms that have been gobbling up small-business clients.

FIS has added Walgreens as a rewards partner in Premium Payback, its payment card loyalty program for financial institutions using its banking services platform.

As merchants and consumers increasingly favor contactless payments over the course of the COVID-19 pandemic, Visa is removing obstacles to contactless acceptance.

The Ohio company's new effort will commit $25 million in 7(a) loans, along with fee waivers and financial education.