It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into the cash flow gaps of small and medium-sized businesses (SMBs), transit payments and a disaster loan program.
SBA: EIDL Emergency Grant Program Runs Out Of Money
The U.S. Small Business Administration (SBA) announced the end of the Economic Injury Disaster Loan (EIDL) Advance initiative. The program was made to offer companies economic relief ranging from $1,000 to $10,000.
Visa Launches Visa Installments Pilots In The US
Visa’s rollout of its installment credit solution pilots in the U.S., Visa Installments, harnesses Visa application programming interfaces (APIs) and a network of enablers to simplify issuer as well as seller integration at the merchant’s digital point of sale (POS).
Robotic Process Automation Tech Firm UiPath Notches $225M
Robotic process automation (RPA) firm UiPath has raised $225 million in a Series E round led by Alkeon Capital Management. Coatue, Sequoia Capital and Accel were among the other companies participating in the round.
Bank Of England Chief Sees Bank-Backed Digital Currency On Horizon
The Bank of England (BoE) keeps sending optimistic signals about the possibility of a cryptocurrency backed by the bank, but anyone wishing for a fast rollout is likely to be disappointed.
BoE Governor Andrew Bailey told students on a Monday (July 13) webinar, “We are looking at the question of, should we create a Bank of England digital currency.”
How To Drive Success In A Digital 3.0 World
The success or failure of any digital platform is the capability to take away friction — to make it easier for individuals and companies to interact at scale and make a profit. Success going forward will be defined by how companies manage the Digital 3.0 FIT® Framework.
Trackers And Reports
NEW REPORT: Helping Main Street SMBs Close The Cash Flow Gap (Main Street Survey)
Seventy-six percent of SMBs down Main Street USA have experienced cash flow shortages during the four months since the beginning of the pandemic. How do they intend to keep up until things go back to business as usual?
Can Mobile Solve A City’s Transit Payment Challenges? (Payments Orchestration Playbook)
Demand is spiking for more touchless, seamless transit payments to help consumers navigate safety as they travel. PYMNTS explores how standardizing payment portals can foster a more unified transit experience and what it could signify for transit’s future.
New Report: How Alipay Fends Off The Fraudsters (KYC/AML Tracker)
Fraudsters are eager to take advantage of payment app users by conning them into sending funds to the scammers under fake pretenses and running a number of other schemes. As a result, payment app providers have to create security by catching crimes in the act and preventing scammers from coming on board in the first place.
Fun, Cool and Otherwise Interesting
Casinos' — And Disney Parks' — Digital 3.0 Shift
A somewhat rocky reopening is taking place in the United States as businesses aim to merge governmental rules with the realities of foot traffic to create new models from current retail concepts. This is playing out in casinos and theme parks currently.
Big Banks See Strength In Trading And Digital, But COVID Sinks Their Consumer Businesses
Large banks began the second-quarter earnings season by reporting consumer banking revenues weakened by the pandemic, but bright spots in digital and trading.
Why Large Retailers Are Mandating Masks
When Starbucks, Kroger, Best Buy and Walmart required that all shoppers wear face masks to mitigate the coronavirus’ proliferation, they weren’t just being compliant as companies. They were focused on more than their customers’ well-being.
The Great Twitter Hack And Power Of Social Engineering
Hacks are unfortunately a common reality, but a hack that successfully takes over the Twitter profiles of many celebrities like Bill Gates and Elon Musk and gets them to entreat their followers to move money to a bitcoin address sticks out.
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