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those loans. The new rules will provide "critical economic Adapting to the next normal in retail. A majority of consumers
relief" to about 66 percent of PPP borrowers, Treasury McKinsey surveyed by said they plan to continue using
Secretary Steven Mnuchin stated. Potential beneficiaries new models, such as buying online for in-store pickup
include not only small merchants, but also ISOs and (56 percent) and grocery delivery (45 percent) after the
merchant level salespeople (MLSs) that received PPP loan pandemic passes.
amounts of $50,000 or less.
In its latest Lost in Transaction report, payment solutions
Alverez-Evangelista, suggested President-elect Joe Biden provider Paysafe Group said 39 percent of stores saw
could push through an even larger COVID-19 relief sales increases due to COVID-19, but only 17 percent saw
package, with more direct payments to individuals. (The growth in in-store sales. Of those that said online sales
U.S. House has passed a massive relief package, but that had boosted revenues, better than half had launched
legislation has stalled in the Senate over the price tag.) online stores since the pandemic began, Paysafe reported.
"A large relief package will … inject more use and spend,
benefiting the payments and banking ecosystem as a Meanwhile, Adobe Analytics predicts huge spikes in
whole," Alverez-Evangelista said. online buying during the year-end holiday season: 33
percent more than 2019 online spending to total $189
Pivoting for success billion, more if there's quick action on a stimulus bill.

With the COVID-19 crisis forcing shifts in consumer "I think we'll see that some of the hardest hit businesses
behavior, retailers of every type have adapted to serve will emerge stronger post-COVID," said Austin McNab,
customers through alternative channels, such as online executive sales director at VizyPay. "They've transformed
buying for in-store or curbside pickup, which many their business models [to incorporate things like online
consumers see as safer/healthier ways to shop. "I think a ordering] so that down the road they'll be able to do both,"
lot of entrepreneurial people are being very creative about he said.
how to pivot and survive; I'm seeing a lot of that," Carr
said. It's not just merchants; ISOs and MLSs are also adapting.
"We've pivoted in a way that was opposite where we saw
Plus, many "new engagement models are here to stay," many in the industry going," McNab said. While others
the consultancy McKinsey & Co. wrote in a recent report, laid off sales staff, Iowa-based VizyPay launched a nation-