Digital payments

As businesses try to recover, it's time for fintechs to get proactive


A spike in demand has led to a bigger emphasis on innovative solutions for the digital payments market.


Bad times for debt collectors; Main Street Lending Program draws boos


Loan forbearances are wreaking havoc with firms that normally clean up during recessions; the Fed’s latest rescue plan is off to a rocky start as few banks show interest in making the loans.


Treasury, SBA ease PPP loan forgiveness terms; U.S. faces coin crunch


Firms won’t have to repay their loans even if they don’t rehire all their laid off workers; Fed chair confirms the shortage is due to the coronavirus but is easing as the economy reopen.


Small change is becoming a big problem for banks


At a congressional hearing, Fed Chairman Jerome Powell discussed steps to get the flow of coins to financial institutions back to pre-pandemic levels, as well as ways to ease other industry burdens.


Digital dollar seems inevitable, but details remain fuzzy


The push for a public option to digitize government payments has gotten stronger, and the discussion has moved on from whether it should happen to how it should happen.


Facebook’s Libra gets new chief; warnings sounded on PPP loan forgiveness


Stuart Levey, HSBC’s chief counsel and a former U.S. Treasury undersecretary, will head the cryptocurrency project; lender groups say the demands of those small business loans are not so easy to meet.


The American payment system was ready for the coronavirus pandemic


The modern-day payment system was, over the last two decades, tailor-made for the shelter-in-place conditions many now live and work under today.


Coronavirus relief is an opportunity to bridge the digital divide


As the market deals with the short-term challenge of getting stimulus payments into the hands of citizens, the country has a unique opportunity to put unbanked and underbanked citizens on a long-term path to electronic payment methods, says FIS' Jim Johnson.


Why Congress considered a digital dollar in its coronavirus response


The coronavirus stimulus package has resurrected calls for the U.S. government to offer a central bank digital currency, public mobile wallets and postal banking—controversial ideas that are hard to pull off, but exist outside the U.S. and could dent interchange fees and private stablecoin projects like Facebook’s Libra.


Sen. Brown proposes digital account for unbanked households


The legislation sponsored by Sen. Sherrod Brown, an Ohio Democrat, would require banks to offer the accounts so that consumers could easily access cornonavirus relief funds without turning to high-cost check cashers.