Thursday , July 9, 2020

PayPal, Square Boost Hiring and other Digital Transactions News briefs from 3/23/20

  • PayPal Holdings Inc. and Square Inc. are moving to increase hiring as consumers reportedly shift to mobile payments as a result of calls for social distancing.
  • Arguing that “the [coronavirus] pandemic will pass, but the economic impact will last,” a collation of payroll processors and trade associations issued an open letter to President Donald Trump arguing that existing payroll-processing services should be used to speed the flow of direct federal aid to small businesses.
  • In a similar announcement, payments-software company Oto Analytics Inc., which does business as Womply, called on government officials to use existing merchant accounts and card networks to speed the distribution of loan and aid funds to small businesses impacted by the coronavirus pandemic.
  • ACI Worldwide Inc. said its Speedpay service has been integrated into Guidewire Inc.’s InsuranceSuite platform for property and casualty insurers.
  • To allow consumers to make debit card transactions without touching a point-of-sale device, banks in the Netherlands have waived the requirement to enter a PIN for contactless transactions. They have also doubled the cap on contactless payments to 100 euros.
  • JPMorgan Chase & Co., American Express Co., Citigroup Inc., Apple Inc., and other credit card issuers have said they are willing to offer help to cardholders dealing with financial difficulties because of the coronavirus pandemic. Aid can take the form of extended due dates, waived fees, or increased credit lines.
  • The Western Union Co. said it is encouraging customers to send money digitally through the company’s Web site or through its mobile app, as some agents have closed in response to the coronavirus pandemic. The company said its site is available in 70 countries and some territories, and its app is available in 40 countries.
  • Information-technology security consulting firm eMazzanti Technologies issued a warning against phishing scams related to the coronavirus in which businesses receive emails spoofing credible sources such as the Centers for Disease Control or the World Health Organization and asking recipients to click a link for more information.

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