In today’s top news, Brazil’s central bank suspended WhatsApp’s payment feature, and Visa launched its online resource hub for small and medium-sized businesses (SMBs). Plus, Zopa received its banking license.
Brazil’s central bank has suspended WhatsApp’s payment feature in the country, citing antitrust concerns. Mastercard and Visa have been requested to stop payments and money transfer services through the app in Brazil as well, the bank said.
Visa has launched an online resource for SMBs in over 20 countries, designed to assist entrepreneurs expand their businesses and build stronger customer relationships. The hub promises tools, special partner offers and tips that business owners can adopt to improve their bottom line.
Zopa, the United Kingdom-based peer-to-peer (P2P) lender, has reached its latest milestone and received its banking license as it takes on traditional banks. Previously, Zopa has offered car and personal loans. Now Zopa will introduce savings accounts, to be followed by the addition of credit cards later this year.
U.S. Treasury Secretary Steven Mnuchin said he is weighing extending the tax deadline beyond the already elongated July 15 deadline, so as to help those affected by the pandemic’s economic turmoil. Mnuchin said the Trump administration is also considering a new stimulus.
Hotels and resorts need their workers more than ever to safely reopen, but these workers must also meet their own needs — and early access to pay can play a vital role in helping them do so. In the inaugural edition of the Next-Gen Payroll Tracker, Karen Sims, senior director of financial services for Westgate Resorts, discusses how offering flexible payments has been key to reopening the firm’s 27 properties.
Mastercard is buying Finicity to boost its push into U.S. open banking. Craig Vosburg, president of Mastercard North America, tells Karen Webster that the combination positions Mastercard as a “trusted intermediary” as data — and transactions — flows across FinTechs, financial institutions and third-party providers.
As restaurants begin to reopen across the U.S., they face the challenge of winning back customers, particularly for breakfast orders. Homemade breakfast isn’t such a feat anymore when your commute consists of walking downstairs — leaving restaurants in the lurch.