Ingo Money CEO Drew Edwards recently told PYMNTS that “Historically, banks have viewed FinTechs through an ‘us versus them’ lens — and rightly so, because, in so many cases, the banks were disintermediated or relegated to become ‘dumb vaults’ for the FinTechs they partnered with....
The lending industry was hit hard during the pandemic’s early months, with many banks and traditional lenders rapidly adjusting their standards and rates to accommodate businesses’ and consumers’ shifting needs. Demand among businesses — especially smaller firms — skyrocketed as they attempted to blunt revenue...
The federal government is not exactly the poster child for modern payments distribution. It’s a fact that the last year – and two rounds of direct stimulus payments to consumers – has made quite clear. As it turned out, paying out stimulus funds to hundreds...
The pandemic’s impacts on the financial and lending spaces are stretching into the new year, with both borrowers and lenders having adjusted how they approach loans in a world where virtual interactions have become the norm. Most borrowers are now expecting that the whole of...
The pandemic is continuing to have a broad impact on the financial sphere at the start of the new year, with businesses as well as consumers adjusting their banking habits in response to shifting economic needs. Research indicates that consumers are recovering some of their...
The U.S. Department of the Treasury has electronically sent out two-thirds of the second round of individual stimulus checks, or over $112 billion in payments, according to a report from The Wall Street Journal (WSJ). The payments of $600 for every adult and child totaled...
Venmo, a mobile payments service, announced Monday (Jan. 4) it has launched a new Cash a Check feature — and that it will waive the fees for cashing stimulus paper checks for a limited time for “select customers” using its app. “We’re always looking for...
Treasury Secretary Steven Mnuchin said the $600 individual checks passed by Congress will start going out by Tuesday evening (Dec. 29), CNBC reported. Mnuchin tweeted Tuesday that the payments “may begin to arrive in some accounts by direct deposit as early as tonight,” in the...
PayPal will allow customers to cash their next stimulus checks free of charge, according to a press release. The payments giant said in the release that the checks will go through instantly on the PayPal app’s cash-a-check feature. The normal check-cashing fees will be waived...
