Merchant

Webster Bank and Customers Bank are among the lenders that have turned to alternative data sources and automated loan reviews to assess business customers' ability to weather the coronavirus pandemic.

The Accredited Standards Committee X9 is forming a group to study faster and real-time payments activity in the financial industry and eventually recommend new X9 standards and upgrades that would enhance interoperability and adoption.

Less than two months after launching a software-based model to replace traditional point of sale terminals, MagicCube has received a security compliance allowance from Visa for the mobile-driven system.

Though there is some optimism about an economic recovery, two-thirds of respondents said they expect revenue to be flat of down next year and just 13% plan to be in hiring mode.

EBay has hired Discover’s top U.S. cards executive, Julie Loger, for the newly created position of global chief growth officer.

To address a growing demand for contactless payment methods during the coronavirus pandemic, 7-Eleven has launched a mobile wallet for customers to use at participating U.S. stores.

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

People with scores below 500 are often in communities that suffer the most from economic hardship and violence. Banks and regulators can do more to qualify them for financing, ultimately creating healthier local economies.

Lenders should be prepared to act quickly and decisively, leveraging the power of technology, innovative lending approaches, low interest rates and renewed commitment to small business funding, says LendingFront's Jorge Sun.

Whenever a technology moves into the payments or financial data ecosystem, it alerts fraudsters to probe it more intensely — and ultimately, figure out a way to use it as an attack vector.