News

Today In Payments: Starbucks Offers Leave Of Absence For Baristas; Western Union Eyes Buying MoneyGram

In today’s top news, Starbucks offers a leave of absence option to employees impacted by reduced café hours, and Western Union makes a takeover offer for MoneyGram. Plus, Visa reports a smaller decline in payments volume for May.

Starbucks Offers Leave Of Absence For Baristas Facing Fewer Hours

Starbucks is offering its baristas a voluntary leave of absence program for employees impacted by reduced work schedules amid the COVID-19 pandemic, the company told workers.

Western Union Eyes Buying MoneyGram

Western Union has made a takeover offer to MoneyGram, but nothing has been made official, in a transaction that would unite two of the country’s largest money transfer services

Visa: May Payments Volume Shows Slide Slowing

Visa‘s total U.S. payments volume in May declined slower than the previous two months, which could be indicative of a slight economic recovery as consumers spend more. The payments volume in May saw a drop to 5 percent, better than the 18 percent drop from April.

Coronavirus’ Economic Impact Could Last 10 Years, Cost $8 Trillion

The final financial toll of the coronavirus will likely be a reduction of $7.9 trillion to the U.S. gross domestic product (GDP) until 2030, the Congressional Budget Office said Monday (June 1). That number includes the rescue funding approved thus far by Congress, which has numbered in the multi-trillions, with aid going to businesses, individuals and services like testing.

The Machine Learning Fix For Healthcare Disbursement Delays

Complex billing codes and paper-based disbursements have long troubled independent primary care practitioners — frictions that result in treatment delays during the pandemic. Andrew Toy, chief technology officer for health insurance provider Clover Health, explains how machine learning can help resolve billing issues, disburse payments near-instantly and close the healthcare and patient billing service gap in the latest Disbursements Tracker.

Mastercard: Data-Driven Insight Key To Fast-Tracking America’s Reopening

Can better data speed the rebound from the pandemic as cities and businesses reopen? Raj Seshadri, Mastercard’s president of data and services, tells PYMNTS that real time, anonymized consumer data can pinpoint where economic aid needs to go to help SMBs recover.

The Drive-In Dance Club And The Future Of Social Gatherings

In the era of COVID-19 and social distancing, people are finding that gathering in cars is an acceptable substitute for being in a room together. It’s easy to envision this aligning with dining out and movie-going, but clubbing? Drive-in dancing could be next.

——————————

PYMNTS LIVE ROUNDTABLE: TUESDAY, JULY 14, 2020 AT 12:00 PM (ET)

Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.

TRENDING RIGHT NOW