Digital payments

Crypto provides a new tool for underbanked consumers, Marc Grens of DigitalMint writes.

Appearing to support decentralized systems, the acting comptroller of the currency said on a podcast that "the ultimate public ownership of the payment rails is when you have a network, like the internet, of interconnected institutions and computers."

Major payment companies have long looked on at cryptocurrencies as too risky to touch, but too tempting to ignore. Mastercard's latest move indicates that the card brands are ready to make a firm pitch for crypto spending.

Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans.

The global card issuer will provide its tokenization technology for JPMorgan Chase's virtual card program in early 2021.