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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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Fintechs (Not Banks) Could Reap Windfall From $800 Billion Opportunity in US Equity Market

Fintechs (Not Banks) Could Reap Windfall From $800 Billion Opportunity in US Equity Market

ADVERTISEMENT As the global pandemic alters life as we know it, accelerating the work-from-home culture, shifting priorities and creating soaring demand for Zoom conferencing, fintech solutions are quickly encroaching on banks — the Blockbuster Video to their Netflix.

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Coronavirus Boosts Online Banking, Payments Usage in the US

Coronavirus Boosts Online Banking, Payments Usage in the US

US bank branches are still shuttered amid the pandemic, but consumers are more likely to conduct their banking online, according to recent research. An April 2020 William Mills Agency survey conducted by The Harris Poll found that 73% of US adults were more likely to leverage digital banking and payments while social distancing.

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Americans Create New Economic Threat With Their Own Savings

Americans Create New Economic Threat With Their Own Savings

For example, Visa reported that credit card payment volumes plunged 31% through April 28. Visa said the only category of US payments volume that is growing is food and drugstores, along with Walmart, Costco and Target. Spending on everything else was down in April.

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German Watchdog Investigates Payments Company Wirecard

German Watchdog Investigates Payments Company Wirecard

FRANKFURT (Reuters) – Germany’s financial watchdog BaFin said on Tuesday it was conducting multiple investigations into Wirecard (WDIG.DE), sending its shares lower and adding to pressure over allegations it has denied. At 1309 GMT, Wirecard’s shares were 3.3% lower, making them the biggest faller on the German blue-chip index.

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More Than Half of Americans Now Use Contactless Payments, According to Mastercard Poll

More Than Half of Americans Now Use Contactless Payments, According to Mastercard Poll

Contactless payments were already on the rise in the U.S., but the ongoing coronavirus pandemic has hiked up the number of Americans using various touch-free payment methods.

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Will China’s Digital Currency Compete With Alipay, WeChat Pay?

Will China’s Digital Currency Compete With Alipay, WeChat Pay?

China’s central bank digital currency (CBDC) is currently in the test phase, with screenshots recently circulated. There’s been some discussion in the Chinese press about how the digital yuan might impact the two dominant wallets WeChat Pay and Alipay.

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Facebook Strikes $5.7 Billion Deal With India’s Richest Man

Facebook Strikes $5.7 Billion Deal With India’s Richest Man

TOPLINE Facebook has become the largest minority shareholder in Indian oil and telecom tycoon Mukesh Ambani’s cut-price Jio mobile internet network with a 5.7 billion deal. India’s richest man, Mukesh Ambani, struck a bumper deal to sell a stake his Jio mobile network to …

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An Analysis of Planned Changes to Network Rates Yields a Deep Impact for U.S. Merchants

An Analysis of Planned Changes to Network Rates Yields a Deep Impact for U.S. Merchants

Visa Inc. and Mastercard Inc. have postponed their planned U.S. interchange revisions until July, but when these changes do take effect the net impact on merchants will be deep, according to an analysis released by CMSPi, an Atlanta-based global merchant payments consultancy.

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