Payments Dive

OCTOBER 5, 2023

The Financial Technology Association is backing a bill that would clarify that loans made through the Small Business Administration’s flagship lending program can be used to pay for fintech services.

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Fintech Lending Financial Technology Technology 459

South State Correspondent

DECEMBER 8, 2023

Recently, the American Banker hosted their annual Small Business Banking Conference in Nashville, and as always, it was one of the better banking conferences of the year. We asked ten banks how they define small business and where it reports and got different answers. Now, the average small business owner is 63 years old.

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Conference Retail Community Bank Technology 195

Payments Dive

MARCH 8, 2024

Fleetcor’s investment this week follows other payments companies, including Visa, in investing in Brazilian businesses.

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Mobile Payments Company 221

South State Correspondent

NOVEMBER 14, 2023

That answer depends on the strategy your bank is pursuing and the underlying business model your bank chooses to leverage. In this article, we look at two very similar institutions, but ones with different bank business models, and show how their model impacts performance. The question is, how much will it pay off?

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Strategy Compliance Technology Marketing 195

Payments Dive

NOVEMBER 17, 2023

Credit card spending for small businesses has largely been flat relative to last year, but balances have risen, the Bank of America report said.

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America Cards Report 259

Accenture

DECEMBER 14, 2021

Many businesses struggled, others adapted and innovated, and many new SMEs were born during the pandemic. The post How can banks support small business recovery?? The small-and medium-sized enterprises (SMEs) landscape has been significantly altered over the last two years. appeared first on Accenture Banking Blog.

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Innovation Customer Experience Banking Trends Trends 358

Payments Dive

MAY 26, 2023

As electronic payment options become available, consumers and businesses in the U.S. are using them more often, but keeping a wary eye on fraud.

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Mobile Payments Fraud 243

Payments Dive

FEBRUARY 1, 2024

The card network is readying to offer Chinese consumers its card services domestically after winning approval last year for a joint venture in that country.

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Cards 243

PYMNTS

JANUARY 24, 2021

private businesses reported that 2021 is off to a good start overall, but signs of inflation are on the rise, and the jobs market outlook is somewhat gloomy, according to a press release from research firm IHS Markit. Services Business Activity Index is 57.5, Operators of U.S. Composite Output Index is 58, up from 55.3 up from 54.8

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US Survey Trends Marketing 255

PYMNTS

DECEMBER 2, 2020

Payments giant Stripe is taking Stripe Capital , its push into online business finance and lending, to the next level. Stripe Capital first got off the ground in September 2019, offering customers and businesses financing options through its online platform. On Tuesday (Dec. On Tuesday (Dec.

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PYMNTS

AUGUST 21, 2020

More recently, the executive said on Fox Business News that a return to previous travel volumes would hinge on a vaccine. ” One lingering victim of the coronavirus, and the great digital shift, might be business travel. .” I do think there’s a lot of inefficiency, which we can all appreciate in business travel.

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Conference Meeting Course Video 291

PYMNTS

JANUARY 26, 2021

And while the concept initially set its sights on elevating the consumer banking experience, the data integration drive continues to expand into new use cases, including business banking, that open up opportunity through bank-FinTech collaboration and data integration. where there is no open banking regulatory mandate.

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blockchain Data Fintech Tools 355

PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. ius offered insight into exactly why crypto businesses are so difficult to bank. Conflicting Needs.

cryptocurrency 283

cryptocurrency Compliance Regulation Payments 283

PYMNTS

AUGUST 11, 2020

Federal and state authorities are targeting companies that allegedly lend money to small businesses at extreme rates and seek to collect payments with heavy-handed tactics, NBC News reported Tuesday (Aug. Critics argue that the total cash outflow required of businesses that get money from merchant cash advance companies can be disastrous.

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Lending Regulation Philadelphia New York 237

PYMNTS

JULY 2, 2020

Venmo will introduce a new feature for businesses to accept payments separate from the individual owner’s account, a press release says. More than 75 percent of the small businesses in the U.S. Business profiles will make use of touch-free transactions with QR codes to aid social distancing.

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Payments Community Marketing Data 230

PYMNTS

JANUARY 18, 2021

With a second Paycheck Protection Program (PPP) on the way, small businesses have yet another chance to secure much-needed financial relief. Reports in The Wall Street Journal said the latest pandemic relief package allocates $284 billion in PPP loans for small businesses. business director, reports in Euro Weekly News said. .

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Community Fraud Taxes Massachusetts 219

PYMNTS

JULY 14, 2020

Consumers want access anytime, anywhere and with any device, creating a situation where businesses’ continuity plans are challenged and stressed. Ultimately, some businesses had to throw their business continuity playbooks out the window. Complete fraud and customer service teams are working from home.

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Fraud Meeting Strategy Operations 311

PYMNTS

FEBRUARY 1, 2021

“Cybercriminals are simply shifting their tactics to find a new way to attack businesses and consumers. Indeed, the latest research suggests that increasingly, cybercriminals are becoming more aggressive in their attacks on businesses and their finance departments. The campaign is targeting businesses across the U.S.,

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Data Fraud Missouri Report 341

Gonzobanker

FEBRUARY 22, 2024

The right talent and tools can equip bankers to take advantage of opportunities in the small business market. small business market—a segment of 32 million small-to-medium businesses (small businesses) with less than $10 million in annual revenue with funding needs of loans between $5,000 and $1,500,000.

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Lending Community Bank Community Strategy 78

CFPB Monitor

JANUARY 16, 2024

In remarks to the press and public on January 2, 2024, New York Governor Kathy Hochul announced “a sweeping consumer protection and affordability agenda”, including proposed actions to “strengthen consumer protections against unfair business practices” and “establish nation-leading regulations for the Buy Now Pay Later loan industry”.

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New York National Regulation Examples 156

American Banker

APRIL 23, 2024

But 70% of all businesses will continue to rely on checks for years to come, according to recent data from the Association for Financial Professionals. A new Citizens Bank survey suggests rising check-fraud incidents are driving middle-market companies to accelerate plans to fully adopt digital payments.

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Fraud Payments Survey Data 80

American Banker

APRIL 19, 2024

Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.

Payments 70

Payments 70

ABA Community Banking

OCTOBER 17, 2023

Many fintech firms’ offerings are narrow, leaving them unable to meet growing businesses’ capital needs. In contrast, most banks can work with businesses as they grow. The post Cultivating small business: Banks focus on relationships and solutions appeared first on ABA Banking Journal.

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Meeting Capital Fintech Community Bank 111

BankInovation

APRIL 9, 2024

The London-based bank is beta-testing business banking services, including operational accounts, cards and payments, Chief Executive Rishi Khosla told Bank Automation News. Digital bank OakNorth is in the early stages of testing to provide wire banking services in the United Kingdom. Founded in 2015, the $4.8

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Digital Banking Cards Operations Payments 63

Independent Banker

APRIL 30, 2022

From contactless payments to the digitization of business-to-business (B2B) payments, trends in business payments are shifting to meet customer preferences, making this space one to watch for community banks. What developments will affect business payments in the short to medium term? By Mary Yerkes.

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Trends Payments Community Bank Community 144

Independent Banker

MARCH 31, 2022

We live in unprecedented times, filled with new challenges and opportunities for small businesses. Small businesses are the backbone of the U.S. economy, accounting for 99% of companies with paid employees and 65% of net job creation from 2000 to 2017, according to the Small Business Administration (SBA). By Charles Potts, ICBA.

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Community Bank Community Meeting Resources 141

CFPB Monitor

JANUARY 4, 2024

Revenue Based Finance Coalition (RBFC), a trade group whose members include non-banks that provide sales-based financing to businesses, filed a lawsuit last week against the CFPB in a Florida federal district court challenging the CFPB’s final small business lending rule implementing Section 1071 of Dodd-Frank.

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Lending Groups Florida Regulation 146

American Banker

NOVEMBER 6, 2023

The small businesses that drive the U.S. economy and local economies throughout our nation are being "hung out to dry" by regulators' push for increased capital requirements, according to the head of the Small Business & Entrepreneurship Council.

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Policies National Regulation Capital 92

CFPB Monitor

SEPTEMBER 29, 2023

On September 14, 2023, the CFPB released Frequently Asked Questions (FAQs) regarding the Small Business Data Collection Rule (the “Rule”). These FAQs are in addition to the set published in June 2023, which are dated. Some, but not all, of the FAQs are discussed below. Continue Reading

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Lending Data 88

Banking Exchange

JANUARY 16, 2023

Merchants & Marine Bank and City National Bank have launched separate initiatives to support small businesses and local communities Community Banking Feature3 Feature Small Business Customers People Consumer Compliance

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Community Bank Community Compliance National 136