American Banker

NOVEMBER 7, 2023

The card giant is offering small merchants a debit card and account that provides a view of their cash flow across multiple products. Experts say this is a good step but that business owners may want more.

Cards 45

Cards Technology 45

Abrigo

FEBRUARY 8, 2024

The increasingly digital nature of financial transactions and the growing prevalence of fraud require consumers and businesses alike to be equipped with the knowledge to navigate day-to-day business securely. Check fraud alone, the most significant current fraud threat, is projected to create losses of $24 billion in 2024.

Fraud 195

Fraud Resources social media Software 195

Abrigo

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." Takeaway 2 Watch out for the check overpayment scam. Check Fraud.

Fraud 195

Fraud Trends Survey Technology 195

Payments Source

DECEMBER 18, 2017

SMBs are choosing virtual cards as their preferred form of electronic payments because they solve many of their payment challenges, while also helping them avoid the costs associated with custom software solutions designed for larger businesses, writes Blair Jeffery, COO of Noventis.

Cards 68

Cards Software Payments 68

South State Correspondent

AUGUST 3, 2023

The key to this tactic is to know that very few commercial checking customers utilize any medium or high-value treasury management services at banks (see below). Most small business and commercial customers do things the old fashion way for no other reason other than they don’t know better.

Metro 195

Metro Data Management Marketing 195

PYMNTS

JANUARY 8, 2021

Roughly 8 million stimulus check Visa debit cards are being mailed to households this week, the U.S. Millions of payments have already been made via direct deposit and paper checks, with the goal of quickly delivering assistance. Instead, those people will either get a new card, paper check or direct deposit.

Cards 322

Cards Taxes Payments How To 322

Bank Innovation

SEPTEMBER 10, 2019

As consumer payments go digital, startups and banks now are focusing on digitizing business-to-business payments, an area where small business owners still are reliant on paper checks and a multitude of expense-management tools.

Chicago 276

Chicago Payments Tools Management 276

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.

Conference 195

Conference Retail Community Bank Technology 195

American Banker

OCTOBER 28, 2021

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Payments 83

Payments 83

PYMNTS

AUGUST 8, 2019

The Federal Reserve’s planned faster payments service, the FedNow Service, is slated to have an impact on the speed with which paper checks are processed, adding a new twist to the U.S.’s Keeping Checks In B2B Payments. Business-to-business payments have been some of the most resistant to electronics,” he said at the time.

Payments 166

Payments Kansas City Kansas Capital 166

PYMNTS

APRIL 29, 2020

Businesses that borrow money through the federal Paycheck Protection Program (PPP) can expect to be audited before the loans are forgiven, Treasury Secretary Steven Mnuchin told The Wall Street Journal. Typically, the Treasury depends on lenders to audit the small business loans it backs. They’ll do bare-minimum checks.”.

Pennsylvania 353

Pennsylvania Illinois Comparison Lending 353

American Banker

AUGUST 16, 2022

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Digital Banking 73

Digital Banking 73

South State Correspondent

JULY 12, 2023

RFP allows billers such as insurance companies, utilities, municipalities, manufacturers, and small businesses to request payment while attaching a document and/or the data of a bill, invoice, or statement to the payment message. Putting This Into Action Faster payments will be the final blow for checks.

Payments 370

Payments Management Fraud Data 370

PYMNTS

OCTOBER 22, 2020

Business banking hasn't always been flashy or innovative. But with the help from some industry friends, financial institutions today are looking to improve the experience for both small businesses and larger corporates. Citizens Bank And CheckAlt Tackle Check Friction. PYMNTS rounds up the latest tie-ups below.

Payments 198

Payments Fintech Technology Customer Experience 198

South State Correspondent

SEPTEMBER 13, 2023

33% are still made via check that contains more than $8B of fraud per year. Check fraud is up some 84% and is only going to go up. Meanwhile, the cost of processing checks will continue increasing for banks and businesses. Name a business, other than the collection firms, that likes doing AR collections.

Payments 221

Payments Fraud Data Taxes 221

Abrigo

MARCH 29, 2023

The COVID-19 pandemic challenged communities and businesses nationwide, and financial institutions were no exception. Under the PPP program, the Small Business Association (SBA) rolled out two relief rounds for certain small businesses. Complete a credit check if not done at onboarding.

Fraud 195

Fraud Trends Taxes Training 195

PYMNTS

FEBRUARY 1, 2021

Up to this point, Americans have received two stimulus checks : one for $1,200 in the spring of 2020, and then another for $600 in the early days of 2021. The second check was controversial, and created the unusual situation where both President Trump and President-elect Biden publicly argued it should have been for more, namely $2,000.

Alaska 235

Alaska Utah Ohio Groups 235

PYMNTS

OCTOBER 16, 2020

Treasury or cash management services that used to be fast enough may therefore no longer be adequate as businesses fight to stay afloat during the economic downturn. with only 9 percent of businesses in one study claiming they did not plan to integrate it. Breaking Away From Checks . billion in 2018 compared to $8.5

Payments 191

Payments Fraud System Study 191

PYMNTS

OCTOBER 7, 2020

The ongoing pain wrought by the pandemic is especially acute for smaller businesses in the U.S., Taking a step back to address what’s happened so far, Bar noted that Melio bills itself as an “accounts payable experience” that is designed for small businesses based in the United States. tied as they are to paper-based payments.

New York City 225

New York City Payments United States Online 225

PYMNTS

SEPTEMBER 18, 2020

The COVID-19 pandemic has hit smaller businesses hard, with many seeking new sources of funding such as government-sponsored loans to keep afloat. Our overhead costs are relatively small, but we have a physical space, so we have a lease and we have to pay that every month,” Benoit said.

US 241

US Illinois Payments Operations 241

Gonzobanker

APRIL 4, 2024

consumers, Cornerstone estimates that Chime has more than 38 million customers—more than the number of checking account and/or payments customers of SoFi, Dave, MoneyLion and Current combined—more than three times greater than in Cornerstone’ 2021 estimate. of Americans as primary checking account customers. That works out to 8.1%

Comparison 115

Comparison Fintech America Survey 115

PYMNTS

SEPTEMBER 28, 2020

Morgan Chase is stepping up its payment fraud protection services for small- to medium-sized businesses (SMBs) to help them combat scam and fraud attempts, Reuters reported. Jennifer Roberts , CEO of Chase Business Banking, said fraud is "a major concern and can be devastating for businesses.”. “We

Fraud 266

Fraud Payments Tools Report 266

PYMNTS

OCTOBER 14, 2020

Businesses of all sizes are doing their best to stay on top of changing payment trends and consumer expectations as the pandemic continues to impact how money is moved. One PYMNTS study found that offering such capabilities can actually impact businesses’ loyalty, for example. Around the Disbursements World.

Payments 257

Payments Trends Study Tennessee 257

PYMNTS

AUGUST 17, 2020

Balancing the books, sending out invoices and keeping the cash rolling in can be thankless but vital tasks for small business owners. In a push to bring in more small business accounts, TD Bank is launching a new online payment and accounting feature on its online platform for small businesses.

Online 175

Online Detroit social media Tools 175

Bank Innovation

MARCH 28, 2017

Check payments have survived another year. Maybe introducing “virtual cards” to small businesses will help change that. B2B invoicing and payments company Viewpost has partnered with Visa to enable digital payments for small and medium businesses. We are […].

Cards 150

Cards Payments Company Online 150

PYMNTS

DECEMBER 17, 2020

14), a bipartisan group of senators unveiled a $748 billion package that would extend unemployment benefits into April 2021 and provide help for small businesses, according to Business Insider. But some lawmakers are pushing for even larger individual stimulus checks. On Monday (Dec.

Washington 235

Washington Analytics Payments Groups 235

PYMNTS

SEPTEMBER 17, 2020

The new initiative will include “concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital,” Mastercard said in a news release. Mastercard said it will invest $500 million in Black communities across the U.S. This is a time for action.

Community 282

Community St. Louis Los Angeles Ohio 282

Perficient

MARCH 3, 2021

STARTUP is typically a one-track competition where teams create a viable start-up business with a design strategy, but this year’s competition included two tracks, the second track pairing teams with a small, minority-owned, Black, Indigenous, People of Color (BIPOC), or LGBTQIA+ business in Atlanta or Savannah, Georgia.

UX 539

UX Meeting social media Strategy 539

PYMNTS

DECEMBER 20, 2020

government coronavirus relief package will contain $600 direct checks, $300 unemployment benefits per week and aid for small businesses, schools and vaccination plans, The Wall Street Journal (WSJ) reported. The bill puts $325 billion toward small businesses, including $280 billion for the Paycheck Protection Program (PPP).

Lending 319

Lending US Course Report 319

PYMNTS

DECEMBER 14, 2020

The efforts to pass a new stimulus bill are still ongoing, with lawmakers possibly deciding soon on a $908 billion bill, but a sticking point has arisen in the lack of new individual checks, CNBC reported. In addition, Sens. These are some of the main issues that have held up the stimulus effort for several months now.

Pennsylvania 177

Pennsylvania Maine Policies Report 177

PYMNTS

NOVEMBER 18, 2020

Global payments startup Veem is launching a new business-to-business (B2B) tool to simplify and automate domestic payments, the company announced in a Wednesday (Nov. He said the new tool, Veem Check, “strengthens our domestic payment offering” because users can pay anyone in the U.S. 18) press release.

Tools 272

Tools Payments Study blockchain 272

Gonzobanker

NOVEMBER 30, 2023

2: Implementation of an Engagement-Focused Rewards Checking Program One interesting characteristic is the prevalence of relationship-based rewards tied to checking products at 4Q Club institutions. These products go beyond the attractive interest rates of a high-yield checking account (although that is sometimes included).

Strategy 158

Strategy Industry Lending Marketing 158

PYMNTS

NOVEMBER 28, 2018

B2B payments is all too often a waiting game, one that can be damaging to the survival of a small business (SMB). With checks still so heavily in play, small businesses must not only wait to receive a check, but banks often enact a holding period that forces a company to wait even longer to see the funds they’ve been paid.

Lending 168

Lending Payments Cards System 168

Perficient

AUGUST 9, 2022

The financial services industry must consider its customer experience game while also grappling with a sense of distrust from many communities due to systematic barriers, maintaining utmost accessibility due to the essentiality of the business, and the lack of financial literacy across the country.

Community 275

Community Customer Experience ATM Examples 275

Abrigo

DECEMBER 29, 2023

From upcoming new requirements on small-business lending to watching out for deteriorating commercial real estate loans, these resources provided insight and tips to keep staff sharp. Click the header next to each number to visit the corresponding top banking risk resource. Stay up to date on CFPB 1071.

Resources 221

Resources Lending Risk Management Policies 221

PYMNTS

APRIL 28, 2020

The new coronavirus swiftly impacted small- and mid-sized businesses (SMBs) rather harshly, with these entities now struggling to manage remote workers who need to send out paper invoices to suppliers and other business partners attached to checks. Why Macadoodles Still Relies On Paper Checks For Supply Chain Simplicity.

Payments 235

Payments Tools Study Security 235

PYMNTS

NOVEMBER 23, 2020

Small and medium-sized businesses (SMBs) got their clocks cleaned by the pandemic, and turning to their traditional lending sources, they’ve encountered sclerotic systems and outdated policies not conceived for the needs of the recovering Main Street merchants of 2021. We no longer go to the bank,” Potter told PYMNTS.

Data 143

Data User Experience Fintech Lending 143