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Today In Payments: BoA Mortgage Customers Can Defer Payments; India’s Proposed Rules Will Force Big Tech To Turn Over Data

In today’s top news, Bank of America will offer mortgage, credit card and other loan deferments to customers impacted by the coronavirus, and India is moving to tighten controls on Big Tech companies by requiring them to turn over data. Also, Airbnb is speaking with investors and is considering a fundraising round.

BoA Mortgage Customers Struggling Due to Pandemic Can Defer Payments

Bank of America will offermortgage, credit card and other loan deferments to customers impacted by the coronavirus, decided on a case-by-case basis.

India’s Proposed eCommerce Rules Will Force Big Tech to Turn Over Data

India is moving to tighten controls on Big Tech companies by requiring them to turn over data and other requested information in a timely manner. The drafted policy also calls for a new regulator to provide oversight and enforce compliance.

Airbnb Fields Investor Calls Despite Having $3B in the Bank

Airbnb, despite having plenty of cash, has been open to listening to investors as the coronavirus pandemic unfolds worldwide and hits the travel and hospitality industries especially hard. The temporary home rental business has seen “significant” interest from investors in recent weeks, and believes that raising money could be a good opportunity at this time.

Uber CEO Sees Cash Position as Downturn Defense

Uber’s core ride-hailing business is down 60 percent to 70 percent in the places where the coronavirus is having the most impact, but the company has pointed to a multi-billion-dollar cash hoard to boost its standing amid the pandemic and beyond.

How the Cloud Keeps Restaurant Inventory Less Cloudy

Inability to track and predict inventory usage can result in shortages that are detrimental to the customer experience, says Founder Anjou Ahlborn Kay and CEO Sebastiaan van de Rijt of fast-casual chain Bamboo Asia. In this month’s Order to Eat Tracker, the pair explains how cloud-based inventory management systems ensure sufficient stock and product consistency across locations.

Stopping Fraudsters From Taking the Travel Industry for an $11B Ride

With the global travel industry expected to lose $11 billion to fraud this year, online travel agents must safeguard against threats across multiple channels. In the latest Merchant Fraud Decisioning Playbook, Emerging Travel Group CEO Felix Shpilman discusses how artificial intelligence and machine learning can help break data silos and unlock insights for omnichannel protection.

The Week in Payments: The Visible Perils and Hidden Promise of the Coronavirus

In this week’s news: how the coronavirus outbreak is impacting the gig economy and inducing panic — and why digital-first models will thrive on the other side.

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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