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It’s Time to Revisit the Benefits of Virtual Cards for Payables

It’s Time to Revisit the Benefits of Virtual Cards for Payables

In the wake of the many changes this year has brought, companies are moving toward making more of their supplier payments electronically. It’s a welcome thing. Check payments have dwindled in consumer life, but across US industries, nearly half of all supplier payments are still made by check.

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Square Shows Strength Going Beyond POS Payments

Square Shows Strength Going Beyond POS Payments

In a recent PaymentsJournal commentary, I noted that Square was continuing to diversify into banking and related financial services. Its POS payment transaction service operates in a crowded field and is limited by a commodity-type pricing model. Now Stripe’s expansion beyond POS transactions is really paying off.

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Google Signs Up Six More Partners for Its Digital Banking Platform Coming to Google Pay

Google Signs Up Six More Partners for Its Digital Banking Platform Coming to Google Pay

Google is expanding its plans to offer digital banking services in the U.S. The company announced today it’s partnering with half a dozen more banks to offer digital checking and savings accounts to Google Pay users in the U.S., starting sometime next year.

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How the COVID-19 Pandemic Could Lead to a Permanent Shift in Digital Banking

The COVID-19 pandemic has rattled the financial industry more than any event since the Great Recession. Banks have been designated as essential businesses and have largely remained open, but the normal way of doing business has all but disappeared.

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Industry

The Digital Transformation of Payments Reaches Its Next Phase

The Digital Transformation of Payments Reaches Its Next Phase

Carl Slabicki is head of strategic payments, BNY Mellon Treasury Services. The views expressed herein are the author’s and may not reflect those of BNY Mellon. This does not constitute Treasury Services advice, or any other business or legal advice, and it should not be relied upon as such. A digital revolution is driving U.S.

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Wirex Launches Global Brand Campaign After Becoming Mastercard Principal Member

LONDON, Aug. 3, 2020 /PRNewswire/ — Just two weeks after becoming Mastercard’s first crypto-native principal member, pioneering payments platform Wirex have launched their first global TV brand campaign.

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Mastercard VP: Removal of Cross-border Frictions Will Improve Forecasting

Mastercard VP: Removal of Cross-border Frictions Will Improve Forecasting

In its latest report, the Committee on Payments and Market Infrastructures (CPMI) identified key frictions to cross-border payments – including funding costs, weak competition, and the complex processing of compliance checks.

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Amex Adjusted Its Reward Offerings to Bounce Back From the Drop in Travel and Entertainment Spending

Amex Adjusted Its Reward Offerings to Bounce Back From the Drop in Travel and Entertainment Spending

This story was delivered to Insider Intelligence Payments & Commerce Briefing subscribers earlier this morning. Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Payments & Commerce industry with the Payments & Commerce Briefing. You can learn more about subscribing here.

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Regional

The Evolution of Payments Following a Global Pandemic

The Evolution of Payments Following a Global Pandemic

It’s 2022 and people around the world are finding a ‘new normal’, with employees commuting to work and roads and public transport are busy once again. Consumers are spending more confidently with retailers once again. After a continued global effort to flatten the curve and months of social distancing, life is slowly returning to normality.

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Big U.S. Banks Predict More Economic Pain From Coronavirus

Big U.S. Banks Predict More Economic Pain From Coronavirus

NEW YORK (Reuters) – Three of the largest U.S. banks said on Tuesday they had set aside a whopping $28 billion for loan losses, in a stark reminder that much of the economic pain from the coronavirus pandemic is still to come.

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Cutting Corners in China: Credit Cards Circumvent Cash Advance Controls and Limits

Cutting Corners in China: Credit Cards Circumvent Cash Advance Controls and Limits

An interesting story in Caixin Global, a news source covering the Chinese market, talks about a trend where card processors, particularly Alipay and WeChat Pay, circumvent payment card industry standards on credit card cash advances.

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Financial Inclusion: Mexico Is Missing a Move to Digital Banking

Financial Inclusion: Mexico Is Missing a Move to Digital Banking

When the history of the coronavirus’s impact on Latin America is written, it will highlight the acceleration that the virus had on the shift to digital banking and the subsequent economic impact of this.

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Regulatory

Why ‘Earned Wage Access’ Is Suddenly a Big Deal

Why ‘Earned Wage Access’ Is Suddenly a Big Deal

Most of us are used to receiving our salaries twice a month, like clockwork.

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Durbin Asks Fed to Probe Visa, Mastercard, Issuers Over PINless Purchases

Durbin Asks Fed to Probe Visa, Mastercard, Issuers Over PINless Purchases

Dive Brief: Sen. Dick Durbin, D-IL, asked the Federal Reserve in a letter Friday to examine whether payment networks Visa and Mastercard and debit card issuers are engaging in anticompetitive practices when issuers don’t enable PINless functionality, according to The Wall Street Journal.

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Why Banks Need to Rethink Personalization

Financial institutions (FIs) are beginning to see the light at the end of the tunnel for bouncing back from the pandemic, but the crisis has not been without its casualties. Banks have been forced to reduce or suspend in-branch activities to prevent the risk of infection at branches at least temporarily. The largest bank in […]

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Coinbase Prevents 1,000+ Customers From Sending Bitcoin to Twitter Hackers

Coinbase Prevents 1,000+ Customers From Sending Bitcoin to Twitter Hackers

An unexpected hero has emerged from the hack of high-profile accounts on Twitter last week: Cryptocurrency exchange Coinbase Inc. said today it prevented more than 1,000 customers from sending bitcoin to accounts operated by those behind the hack. In the hack of Twitter Inc.

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