Businesses across the United States likely knew they would be in for a long, uphill battle to stay afloat when they first began closing their doors in mid-March, but did not know just how long they would be dealing with the fallout from the COVID-19...
“With so many of us working from home, the ability to monitor and approve spend becomes far more difficult,” says David Wood, Conferma Pay’s director of hotel products. “When so much is changing so fast, it’s essential to know that you have the master controls...
“The pandemic has brought into very clear focus how commercial trading partners are struggling, with cash flow challenges due to payment slowdowns among the biggest contributors,” says Dean Leavitt, founder and CEO of Boost Payment Solutions. “Finding ways to preserve working capital has become an...
Similar to what occurred after the 2008 financial crisis, the COVID-19 pandemic has spurred a shift away from credit cards, notes Akash Garg, CTO of Afterpay. “Afterpay’s data has shown a significant shift to debit over the COVID-19 period, beginning in March — with nearly...
Digital payments form a critical facet of the world’s economy, facilitating the flow of tens of trillions of dollars among individuals and businesses each year. However, these common payment methods are rife with frictions, including slow processing times, exorbitant fees, and the potential for interception...
Cross-border payments continue to be notorious for being slow and costly, with each FI involved in processing the transaction attaching additional fees. In this month’s The FI’s Guide To Modernizing Digital Payments, Nicholas Lembo, head of Americas growth for TransferWise, discusses how leveraging inter-bank networks...
The pandemic is accelerating the great migration of merchants to online channels, and particularly online platforms. In an interview with PYMNTS, Daniel Wideman, VP of product at Spreedly, said that platforms, payments orchestration and smart routing of transactions are becoming “must-haves” in an online world...
Cross-border payments are a necessary, yet often frustrating part of the world economy, with international transactions prone to overlapping government regulations, excessive fees and slow processing times. These difficulties are due to a process called correspondent banking, in which transactions must also be funneled through...
Enterprise blockchain service provider Ripple on Thursday (Oct. 8) announced a beta offering called Line of Credit that it says lets its FinTech customers use the XRP digital currency to send cross-border payments. The service is not available to individuals. “With a line of credit...
