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Redesign
Paytm has updated its app to streamline recurring payments for utilities, credit cards, insurance and other payments that are more frequently happening at home as India locks down to mitigate coronavirus spread.
Paytm, a unit of One97 Communications, has added a help center with virus information and helpline numbers, and a payment feature designed to streamline donation payments.
Aggregating in Amsterdam
As it gets acquired by
The company tied its move to the coronavirus' economic crisis, saying it hopes to work with the more than 400 fintech companies headquartered in Amsterdam, building connections between those firms and European banks to extend financial services to small businesses.
Plaid's growth in the U.S. made it attractive to Visa, which earlier this year agreed to pay $5.3 billion to purchase Plaid. But Plaid has also courted controversy, being part of data access disputes involving
SMB challenges
The coronavirus' economic fallout has hit small businesses particularly hard, leading fintech lender Kabbage to close its office in Bangalore and furlough some U.S. staff.
Kabbage intends to sustain benefits and rehire staff when small business conditions improve, reports
In an earlier interview, Kabbage told
Countertrend
The
But at the same time people are withdrawing more money from ATMs. Dollar banknotes in circulation increased from 1.809 trillion to 1.843 trillion between March 11 and 18, reports
That's the largest jump by percentage since December 1999, when there was a similar bump in cash withdraws ahead of fears the "Y2K bug" would disrupt digital banking systems. The trend suggests opposing "fears," with concerns that paper money is contagious bumping against more traditional panic withdrawals.
From the web
REUTERS | Mon March 30, 2020
Visa Inc said on Monday its transaction volumes had been hit as the coronavirus pandemic wreaks havoc on consumer spending, leading it to forecast mid-single-digit percentage revenue growth for the second quarter.
CNBC | Mon March 30, 2020
This shift toward more flexible pay arrangements is part of a bigger change in financial services. Traditional banks, which have been slow to adapt to the digital age, are now facing competition from not only fintech providers but also tech companies that are dipping a toe into financial services.
ATLANTA BUSINESS CHRONICLE | Mon March 30, 2020
Atlanta payments company EVO said March 29 its business has been hurt by the COVID-19 pandemic, and as a result it is cutting costs and has raised $150 million in a stock sale.
More from PaymentsSource
U.K. supermarkets which have been experimenting with mobile scan-pay-go may see more consumers adopting the technology due to social distancing requirements in stores.
New features and improvements often take a back seat to security, says Entersekt's Claudius van der Meulen.
With the semiannual interchange update from the major card brands due in April, acquirers began notifying merchants late last week that those changes — which in some cases represent higher rates for certain types of businesses and cards — have been postponed until July.
Just more than a month since its founder and CEO Ben Milne announced he was stepping down, payments technology provider Dwolla has named industry veteran Brady Harris as its new CEO.
Card fraud risks — already soaring prior to the coronavirus outbreak — are changing rapidly as the pandemic deepens, forcing issuers and merchants to rethink protective measures.
On Friday morning, Fiona Lockyer logged onto the U.K. Live Events Freelancers Forum — a Facebook group with more than 7,500 members who are all self-employed contractors within the U.K. entertainment industry — to be greeted by a mixture of relief and confusion.
It’s critical that merchants implement a COVID-19 strategy for avoiding, reducing, and disputing chargebacks to help recover disputed revenue and prevent future chargebacks.
