{“note”:{“questionId”:”75bef905-10e1-4759-948f-2df813f72922″,”excludeFromTrivia”:false,”createdDate”:”2020-10-08T20:13:08.707+0000″,”lastUpdated”:”2020-10-09T14:05:37.603+0000″,”questionTitle”:”National Bureau of Economic Research: How did U.S. consumers use their stimulus payments?”,”multipleSelectionAmount”:0,”noteType”:”SINGLE”,”noteOptions”:[{“optionId”:”73e7bb9b-9d37-4959-afa7-2a2c44606bc4″,”hasComment”:false,”element”:{“id”:”7dfe3346-68c8-4667-8a6b-05549bdb55d2″,”type”:”HTML_TEXT”,”src”:”<p>A working paper by the National Bureau of Economic Research found that only 15 percent of people who received the stimulus check had spent or planned to spend most of the payment.<br/><br/><a href=”https://www.washingtonpost.com/business/2020/10/09/covid-second-stimulus-checks/” target=””>Read the full story here.</a><br/></p>”}},{“optionId”:”3a4418a1-988a-4ec6-8060-5b649de271b5″,”hasComment”:false,”element”:{“type”:”PDF”,”src”:”n […]
Payments
Half of consumers using challenger banks to make digital payments, says survey
Alternative LendingDigital Banking Capgemini’s World Payments Report 2020 reveals a new payments landscape and says that a dampened economy will slow down payment volumes. Image source: Anirban Bose/Capgemini. Fifty per cent of consumers are using a challenger bank to make some payments, while nearly four-in-ten have discovered a new payment […]
New Deadline For Claiming $1,200 Economic Stimulus Payments: November 21
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November 21: Last day to claim CARES Act stimulus payment. getty The Internal Revenue Service today announced that it’s extending the deadline to claim an Economic Impact Payment by five weeks to help individuals who haven’t yet received a stimulus payment and don’t normally file a tax return. The new […]
Crown Agents Bank expands digital payments for MTFX Group in Africa
Emerging market payments and foreign exchange provider Crown Agents Bank Ltd. is partnering with MTFX Group, a similar company based in Canada, to expand digital payments access across Africa. The strategic partnership will provide MTFX’s client base with an increased ability for moving money across Africa and access to exotic […]
Financial Cards and Payments Market Analysis & Forecast For Next 5 Years
Edison, NJ — (SBWIRE) — 10/07/2020 — COVID-19 Outbreak-Global Financial Cards and Payments Industry Market Report-Development Trends, Threats, Opportunities and Competitive Landscape in 2020 is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study […]
Rise in Consumer Use of Credit Cards, Digital Payments, and Mobile Banking Will Linger Post-Pandemic, predicts Packaged Facts
ROCKVILLE, Md., Oct. 7, 2020 /PRNewswire/ — The COVID-19 pandemic is significantly influencing national purchasing habits, pushing a higher share of purchases onto the internet and away from the physical point-of-sale, reports market research firm Packaged Facts in the recent industry study Digital Consumer Payment Trends in the U.S. In […]
The Growing Role of Artificial Intelligence in Digital Payments Market
By Rahul Pandey, Senior Analyst and Shamal Gavande, Senior Analyst, Adroit Market Research The use of the Internet of Things (IoT) in the healthcare sector has increased rapidly across numerous unique use cases of the Internet of Things. Nowadays, healthcare IoT cases are picking up momentum and the acceptance of […]
Italian digital payments firms merge to create $17.6B fintech group
Italy’s largest payments firm Nexi has struck a deal with its rival, SIA, to create a digital payments behemoth with a market cap of 15 billion euros ($17.6 billion). It’s estimated the new entity will take a domestic market share of 70%. According to a report from Reuters on Oct. […]
UK Digital Bank Ziglu Launches P2P Payments for Bitcoin and Bitcoin Cash
London-based challenger bank Ziglu said Monday that it has been licensed as an Electronic Money Institution (EMI) by the U.K.’s Financial Conduct Authority. After receiving the permit, the fintech start-up immediately launched peer-to-peer (P2P) payments for both crypto and fiat currencies. Ziglu founder and chief executive officer Mark Hipperson said […]
Swift to move into low-value consumer payments market
Interbank messaging network Swift is to move into the low-value remittance market, providing member banks with the means to make instanteous transactions across borders for small and medium-sized companies and consumers The banking co-operative is working with over 20 banks to develop the service, which builds on the strength […]
SBI-HUL join hands to transform retailer payments digitally; State Bank of India offers Rs 50,000 overdraft facility to retailers
© Provided by Zee Business SBI-HUL Partnership: State Bank of India (SBI) and Hindustan Unilever Limited (HUL) have come together to cater to the needs of small retailers by providing them digital payment and financing solutions. This partnership will help digitally empower HUL retailers and distributors through SBIs customized solutions. […]
Middle East and North Africa Digital Payments Market Latest Advancements, Trends and Huge Business Opportunities 2020 to 2025
The MarketWatch News Department was not involved in the creation of this content. Sep 29, 2020 (Market Insight Reports) — The Middle East and North Africa Digital Payments Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants […]
Hesitating on real-time payments will come back to bite banks
The U.S. payments industry is undoubtedly ripe for change. Before the unprecedented shock of COVID-19, digitization and payments transformation initiatives had been organic, piecemeal and predominately the preserve of the largest banks. Now, increasing pressure means that financial institutions of all sizes are working to define a digital strategy to […]
Trio took extra payments, stole thousands from N.J. veterans nonprofit, authorities say
Three people were charged Thursday after an investigation revealed they stole thousands of dollars from a Lacey-based nonprofit that assists veterans in Ocean County, authorities said. Jesse Violante, 33, of Tuckerton, Mary Anne Dileo, 67, of Manahawkin, and Gary Mclain, 33, of Little Egg Harbor, were each charged with theft […]
Digital payments simplified with new partnership ecosystem
UOB creates new partnership ecosystem to simplify the digital payments and rewards redemption experience for their customers UOB customers can now add their cards on popular apps using UOB Mighty without the need for physical cards and use their rewards points to offset utility bills on SP Group’s app United Overseas Bank […]
Make payments up to Rs 2,000 per transaction, just wave your smartphone at POS; know how
© Provided by Zee Business IDFC FIRST Bank is set to launch SafePay, a digital facility that allows contactless debit card payments by simply waving your smartphone against a Near Field Communication (NFC)-enabled Point of Sale or POS terminal. SafePay will enable contactless payments of up to Rs 2,000 per […]
Mastercard Teams Up with Pakistan’s Silk Bank to Promote Credit Card and Digital Payments Adoption
Payments technology giant MasterCard has teamed up with Pakistan-based Silk bank to expand credit card issuance options in the country. This could help increase the purchasing power of local residents and promote digital payment adoption as well. Through the partnership, Silk Bank customers in Pakistan will have the option to […]
Many countries took different paths to digital payments during the coronavirus pandemic
COVID-19 has accelerated changes in payments behavior that would otherwise have taken years to occur, laying the foundation for global expansion post-pandemic. But for different parts of the world, this digital transformation had very different outcomes. As consumers went into lockdown, payment companies mobilized to meet the explosion in demand […]
UAE’s Ministry of Finance Partners with Local Banks to Offer Digital and Contactless Payments for Settling Government Service Fees
The UAE’s Ministry of Finance will be working with the First Abu Dhabi Bank (FAB) in order to launch electronic or digital Dirham contactless payments cards for settling governmental service charges. The eDirham has been set up as a system of digital channels that are capable of collecting local service […]
Reserve Bank of India Is Reportedly Planning to use Infosys Co-Founder Nandan Nilekani’s Formula to Measure Effectiveness of Digital Payments
The Reserve Bank of India (RBI) is reportedly planning to use the Nandan Nilekani (Infosys co-founder) formula in order to measure the effectiveness of digital payments. Indian prime minister Narendra Modi’s administration has introduced the Digital India initiative which aims to determine the extent of digital penetration in the country. […]