Today In Payments: TransferWise Uses Visa Cloud Connect To Expand Debit Offer; SBA Approves $35 Billion In New PPP Loans

In today’s top news, TransferWise and Visa have partnered on Visa’s new Cloud Connect program, and the SBA has granted $35 billion in new PPP loans. Plus, The Clearing House introduced a new offering to help financial institutions perform their own risk evaluations.

TransferWise Uses Visa Cloud Connect To Expand Debit Offer Globally

Visa has debuted a new global partnership with TransferWise after working together on the new Visa Cloud Connect program, allowing FinTechs a new way to securely connect with the cloud. The partnership will allow TransferWise to expand its multi-currency debit cards globally.

PPP Round Two: SBA Approves $35 Billion In New Loans

The U.S. Small Business Administration (SBA) has approved 400,000 more pandemic relief loans worth $35 billion, saying it is trying to repair operational problems in the program brought up by lenders. But drastic changes to the rules, processes and technology platform have led to issues that ended up making the loan approvals slower.

The Clearing House Rolls Out Data Sharing Evaluation For Apps, Aggregators

The Clearing House (TCH) has launched a new offering to make it simpler for data aggregators and financial apps to equip financial institutions (FI) with assessment information to perform their own risk evaluation. The Streamlined Data Sharing Risk Assessment will simplify and standardize risk evaluations of financial apps and data aggregators.

CapOne Earnings Show Accelerated Digital Shift, Improving Credit Metrics

Capital One Financial said on Tuesday (Jan. 26) that in its fourth quarter, consumer credit metrics improved as consumers continued to pay down debt. Company revenue was down 1 percent to $7.3 billion, which beat expectations of just under $7 billion.

NEW DATA: Flexible Healthcare Payments Provide Critical Care To Patient Satisfaction

Healthcare payment plans are a big draw for 63 percent of consumers — but only 44 percent were offered one in 2020. This disconnect can drive even the most loyal patients to seek out other healthcare providers. In The Healthcare Payments Experience Report, PYMNTS surveys more than 2,000 consumers to examine why medical providers’ financial health depends on offering their patients flexible payment options and digital-first experiences.

Loyalty Rewards Boost Takeout Spend For A Third Of US Consumers

U.S. consumers spent a hefty $486 billion on takeout orders in 2020, and rewards programs could drive one-third of them to spend even more. Restaurants that don’t offer online access to loyalty and rewards risk falling behind as takeout takes center stage. The latest edition of Delivering on Restaurant Rewards surveys 2,096 consumers to analyze how loyalty and rewards programs can help drive takeout spend.

Ant Group’s IPO Green Light Comes With Speed Bumps Ahead

Ant may be headed toward a public listing, but at what cost? The overhauls and restructurings that are reportedly in the works, as well as the increase in regulatory costs, might be a drag on margins – and investor enthusiasm.

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