Breaking Industry News
Breaking News articles for April 2020
Contactless usage soars
Thursday, April 30, 2020
With heightened anxiety among shoppers over potential exposure to the novel coronavirus, contactless payments are becoming the go-to option for everyday purchases. Nearly eight in 10 consumers (79 percent), globally, reported using contactless payments, citing safety and cleanliness as key drivers, according to a new survey by Mastercard.
Fintechs, lenders ease PPP roadblocks
Wednesday, April 29, 2020
With the second wave of federal stimulus funding solidly underway, fintechs and financial institutions are working with government agencies and the Small Business Association to accelerate payouts to small and midsize businesses (SMBs) and civilians. These initiatives are driving adoption of mobile apps, digital wallets and prepaid products and have increased cooperation among participating financial institutions, according to recent reports.
PPP round two funding now available
Monday, April 27, 2020
Legislation signed into law on Friday, April 24, added $310 billion in funding to the Payroll Protection Program, meaning small businesses that missed out on the initial $349 billion round of funding can apply for forgivable loans as early as today. Coinciding with the bill's signing, the Small Business Administration stated that it would make changes to its internal systems to support the expanded lending beginning April 27.
Payments tools instill hope during crisis
Friday, April 24, 2020
Throughout the global coronavirus pandemic, ISOs, service providers and merchant level salespeople (MLSs) have been deploying tools, supplies and resources to sustain merchants, families and communities. Designed to fight fraud and improve productivity, these diverse assets include cybersecurity guidance, pay-later features on mobile apps and digital dashboards to assist managers who are working remotely.
E-gifts, e-cards, fraud all booming as people shelter in place
Wednesday, April 22, 2020
New shopping patterns from housebound consumers are fueling exponential growth in gift and e-gift products, according to new studies by Blackhawk Network and Facteus. Researchers found consumers are using digital e-gifting networks, platforms and products to support local business owners and charitable causes during the global coronavirus pandemic. In addition, insights from ThetaRay indicates that cybercriminals are exploiting work-from-home environments.
CNP digital series explores 'new normal'
Tuesday, April 21, 2020
CNP Summit organizers launched the CNP Virtual Summit on April 8, 2020, a digital conference series designed to provide solution providers with education and actionable strategies. In addition to covering the latest developments in ecommerce fraud, payments and risk management, the event provides attendees with networking opportunities and live Q & A sessions, event organizers stated.
Zoom hardens security after 'Zoombombing' attacks
Friday, April 17, 2020
Zoom Video Communications Inc. launched a 90-day security plan, designed to protect channel partner and end-user privacy and security following a trove of “Zoombombing” attacks against the popular video platform. The company disclosed on April 8, 2020, that consultant Alex Stamos, former chief security officer at Facebook, will assist Zoom’s newly formed CISO council and advisory board.
Payroc, Womply partner on PPP initiative
Tuesday, April 14, 2020
Payroc LLC rolled out a Payroll Protection Program (PPP) assistance initiative on April 8, 2020, through a unique partnership with Womply and Cross River Bank. The program is part of a suite of solutions and services designed to assist Payroc’s channel partners and small and midsize business owners affected by the COVID-19 crisis, company representatives stated.
Remembering Jose Machuca
Monday, April 13, 2020
The payments industry mourns the loss of Jose Machuca, owner and manager of WorldPro LLC, the parent company of SignaPay. Machuca passed away Thurs., April 9, 2020, in Queens, New York, following complications caused by COVID-19. The popular payments industry leader successfully had led the WorldPro organization since 2000, and is widely remembered as a friendly, caring person with a great sense of humor and down-to-earth management style.
Experts assess virtual workplaces, SMB transactions
Friday, April 10, 2020
Recent analysis of COVID-19’s impact on the global workforce has uncovered a trove of data sets on workplace behaviors and key performance indicators. Findings suggest the business community has entered a new era marked by virtualization and sweeping reforms to benefit programs, workplace practices and the international supply chain.
Webinar details help at hand for SMBs during crisis
Tuesday, April 07, 2020
On Fri., April 3, 2020, more than 500 payments professionals tuned in to the Merchant Sales Stimulus webinar, hosted by CCSalesPro, to hear CARE Act insights from The Green Sheet’s senior editor Patti Murphy and Global Legal Law Firm attorneys Chris Dryden and James Huber.
Digital events bridge social distancing
Friday, April 03, 2020
With the world on pause during a global health pandemic, conference planners are pivoting to digital venues for the health and safety of attendees, exhibitors and sponsors. The upcoming CNP Summit and Broker Fair 2020 reflect next-gen digital events, powered by advanced technology platforms, designed to keep businesses and career professionals informed and connected.
Keeping payments clean
Thursday, April 02, 2020
As the coronavirus pandemic continues, some folks are raising concerns about hygiene risks around payments. The European Banking Authority, for example, is urging payment services providers to make contactless payment options more widely available to European consumers, and to raise transaction limits to encourage more usage. Meanwhile, closer to home, the U.S. Payments Forum compiled and released Tips for a Cleaner Payment Experience.
