PYMNTS

SEPTEMBER 21, 2020

The sell-offs should be limited, though, given abundant central bank and government support, according to Candice Bangsund , vice-president and portfolio manager at Fiera Capital , quoted by FT. government bonds rallied, and the U.S. dollar snapped a losing streak, while the S&P 500 index fell 1.2 stocks, FT reported.

Federal Reserve 104

Federal Reserve Fed Central Bank Advisors 104

PYMNTS

NOVEMBER 11, 2020

The big gains were a great sign that the Chinese economy — and more specifically, consumer spending — is on a post-COVID rebound. The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services.

Regs 95

Regs NOV Law Enforcement Economy 95

PYMNTS

APRIL 8, 2020

With the coronavirus pandemic forcing people out of work in every sector of the economy, unemployment claims are likely to rise by another 5.25 That’s in addition to the almost 10 million that have filed since government efforts to thwart the virus started forcing businesses to close their doors in March.

Economy 91

Economy Non-Bank Government Governance 91

PYMNTS

APRIL 29, 2020

percent in the first quarter — its biggest decline since the 2008 Great Recession as the coronavirus pandemic slammed the economy, the Bureau of Economic Analysis reported on Wednesday (April 29). gross domestic product (GDP) dropped 4.8 percent. Imports also dropped. percent, up from 7.6 percent in fourth quarter.

Government 52

Government Governance On-Demand Economy 52

PYMNTS

APRIL 5, 2020

Financial regulators have made $500 billion in capital available for lenders around the world , which gives lenders the freedom for another $5 trillion of loans around the world to go toward cushioning the blow the coronavirus has dealt to the world’s economy.

Facilitators 60

Facilitators Economy Regulations Central Bank 60

PYMNTS

APRIL 26, 2020

Talking with “Fox News Sunday,” Mnuchin also posited that the economy would begin to reopen during May and June, and then that would lead to the economic recovery. He said the amount put into the economy thus far, to offset the tumultuous effects of the pandemic, was “unprecedented.” In addition, some state officials like New York Gov.

Treasury 60

Treasury Economy SWIFT Governance 60

The Fintech Times

OCTOBER 29, 2024

The State Bank of Pakistan (SBP) introduced branchless banking licensing in 2008, providing a foundation for Digital Financial Service Providers (DFSPs) to have agent networks across the country. Traditionally, Pakistan has been primarily reliant on cash for transactions, which is usually the case in developing economies.

FinTech 59

FinTech Financial Inclusion Consumer Protection Transactions 59

PYMNTS

NOVEMBER 10, 2020

In fact, fortunes are always made out of disasters, and America’s entrepreneurial spirit may be just the counterforce for a stalled economy. New Businesses Forming At Fastest Rate Since 2008 Crash . That group includes gig-economy workers and other independent contractors who may have struck out on their own after being laid off.”.

Posting 90

Posting Economy On-Demand Advisors 90

Fintech Review

MAY 14, 2024

That is in part driven by a strong economy, leading the pack in Europe. Spain’s economy is thriving, significantly outpacing other EU countries in terms of growth and economic performance. Many Spanish banks were severely impacted during the 2008 financial crisis. There is also a bigger growth picture.

FinTech 111

FinTech Advisors Void Innovation 111

PYMNTS

MARCH 23, 2020

In a statement, the Fed said that it had to try and do this because “it has become clear that our economy will face severe disruptions.”. Congress also needs to act and buy time for the crisis to stabilize and the economy to restart.”. Michael Skordeles, U.S. We are in unprecedented, uncharted waters. Get ready for it.

Fed 52

Fed Federal Reserve Economy Addressing 52

PYMNTS

AUGUST 3, 2020

The recent news of the GDP crash showed that the economy contracted 32.9 percent, the biggest drop since the government started recording that data in 1947. It also managed to undo 11 years of progress since the Great Recession in 2008. And based on what companies told the strategists, more job cuts could be ahead.

Shutdown 60

Shutdown Economy Government Governance 60

PYMNTS

MAY 3, 2020

The road to recovery after the coronavirus pandemic is widely expected to be a winding one as businesses, consumers and officials work to figure how to restart an economy intentionally shut down roughly two months ago. It is a situation complicated by the fact that a roughly comparable event hasn’t occurred in the U.S.

Consumer 125

Consumer Economy Government Governance 125

The Payments Association

NOVEMBER 18, 2024

The rise of De-Fi: A response to financial instability The global financial crisis of 2008 fundamentally altered perceptions of centralised banking systems. Furthermore, in discussions surrounding innovation and adaptation to new technologies, Lewis advocates for a nuanced and thoughtful approach to governance within decentralised systems.

Stablecoins 88

Stablecoins Distributed Ledger Technology (DLT) Digital Currency Caps 88

FICO

DECEMBER 1, 2020

Unfortunately, 2021 will bring the after-effects, as credit grantors, consumers and governments try to work through a flood of uncollectable debt. While vaccines are being identified, there isn’t a high degree of confidence that they will put the world right — and even if they cure the health problem, they won’t fix the economy.

Government 76

Government Governance Regulations On-Demand 76

PYMNTS

JUNE 2, 2020

million in the industry out of work as of April, spring inventory still sitting in stores and various government programs that might have to be stepped up to help the industry deal with its reopening and revenue issues. The forces closing in on retail have forced its various trade and advocacy groups to press their case in Washington.

Federal Reserve 52

Federal Reserve Government Governance Economy 52

PYMNTS

FEBRUARY 14, 2020

Early this week, a judge denied a request from Uber and Postmates to halt the enforcement of a new California labor law — known as AB5 , which was voted into law last year — that would place new restrictions on gig economy workers. If workers are classified as employees, taxes get withheld — and, of course, are paid to the government.

Rules 64

Rules Laws Economy Government 64

CB Insights

APRIL 22, 2020

Alternative lenders are able to participate in the government’s CARES Act loan program, which provides loans to SMBs on a first-come, first-serve basis. Most alternative lenders, such as BlueVine , and the algorithms their lending decisions rely on are a post-2008 phenomenon. LENDING MARKETPLACES CAN SHOWcase THEIR UTILITY.

FinTech 87

FinTech Processors Governance Government 87

PYMNTS

MARCH 23, 2020

economy, unveiling up to $300 billion in financing for consumers and businesses large and small, and an unlimited amount of so-called “quantitative easing.” economy overall in this challenging time,” the central bank said in an announcement. Below are the moves the Fed has made: Boosting Quantitative Easing.

Fed 52

Fed Federal Reserve Consumer Central Bank 52

PYMNTS

APRIL 28, 2020

government. In 2001, the government gave most households up to $600 ($875 adjusted for inflation) and in 2008 handed out up to $1,200 per household. The goal in both cases was the same: to stimulate spending among consumers in an effort to prop up a sagging economy.

Checks 86

Checks Economy Consumer Government 86

PYMNTS

NOVEMBER 4, 2020

unemployment claims remain well above pre-pandemic levels, the virus continues to grip the country, and the odds of additional government stimulus remain unclear. “We Management said it is encouraged by the fact that today’s household balance sheets compare favorably to the 2008 recession year.

Volume 111

Volume On-Demand NOV Continuity 111

PYMNTS

MARCH 8, 2019

Canada’s stable, growing economy coupled with good access to credit data and progressive regulatory environment made it the obvious choice,” said Eilon in a statement as part of the announcement. Funding Circle’s U.K. “We have been evaluating options for expansion over the last year.

Small Business 59

Small Business Economy Finance Government 59

PYMNTS

MAY 22, 2020

The impact of COVID-19 crisis on the world economy during 2020 is projected to be greater than the 2008-09 financial crisis,” the survey’s authors wrote. But these owners said they took steps to mitigate the impact of coronavirus on employees and customers.

Mitigation 52

Mitigation On-Demand Economy Research 52

PYMNTS

OCTOBER 10, 2016

The aftershocks of the financial crisis of 2008 may finally be abating as consumers seem willing to take on more debt and are showing confidence in the U.S economy, according to Bloomberg. billion | The increase in federal government lending to U.S. Here is the data: $25.9 billion gain in July.

Consumer 60

Consumer Federal Reserve Credit Cards Economy 60

PYMNTS

SEPTEMBER 18, 2018

15, 2008 fall of Lehman, which filed for bankruptcy that day. Yes, the government(s) stepped in around the world, and here in the United States, $1.5 security issuance) is done through government-backed firms, even in the wake of the Fannie and Freddie bailouts of a decade ago. trillion this year. trillion this year.

Innovation 59

Innovation Federal Reserve Credit Cards Economy 59

PYMNTS

AUGUST 20, 2020

Small- to medium-sized ( SMBs ) are the backbone of the American economy: 30.7 The following Deep Dive explores how these issues are hindering SMB financing as well as how FinTechs are exploring technologies to overcome these issues and give SMBs the help they need to thrive while the world economy faces its biggest challenge in years.

FinTech 71

FinTech Risk Government Governance 71

PYMNTS

JULY 1, 2019

The government in Zimbabwe has said it will allow citizens of the country to withdraw amounts up to $1,000 from foreign currency accounts, in a move to help while the country shifts to new currency to fight rampant hyperinflation and unemployment. Reuters is reporting that the move comes after 10 years of dollarization.

Accounts 46

Accounts Void Central Bank Non-Bank 46

PYMNTS

JULY 1, 2019

In fact, BIS said the boost in borrowing in recent years by businesses with low credit scores could cause a crisis like the one that led to the 2008 banking crash. Fiscal policies can be refashioned to be growth friendly,” he told the publication.

Central Bank 51

Central Bank Settlement Returns Economy 51

PYMNTS

JULY 15, 2019

As the economy’s picked up in construction and other areas, fewer people are willing to do farm work,” explained Dan Sumner, an agricultural economist at University of California, Davis, in an interview with Marketplace in May. economy like other verticals. economy like other verticals.

FDIC 56

FDIC Payroll Economy Adjustments 56

Fintech News

MAY 7, 2024

Founded in 2008, Perfios is a B2B SaaS company serving the banking, financial services and insurance industry in 18 countries, empowering 1,000+ financial institutions. Established in 2017, AwanTunai is a POS solution aimed at digitizing Indonesia’s vast cash economy.

Payment APIs and Integration 114

Payment APIs and Integration Non-Bank Finance FinTech 114

PYMNTS

APRIL 10, 2020

The $3 trillion in relief approved by the federal government has so far reached few bank accounts as jobless claims mount and businesses remain closed amid the coronavirus pandemic. Big banks are struggling with the Small Business Administration’s ancient computer system and smaller banks are running out of money.

Small Business 76

Small Business On-Demand Government Governance 76

PYMNTS

APRIL 28, 2020

As PYMNTS reported, this is not the first time the government has provided taxpayers with relief. In 2008, up to $1,200 was distributed per household. The goal in both cases was to stimulate spending among consumers in an effort to boost a sluggish economy. In 2001, most households received up to $600.

Payments 56

Payments Laws Economy Checks 56

PYMNTS

MARCH 2, 2020

Global supply chains are impacted, as millions of workers living in the provinces of developing and emerging economies like China, Vietnam, South Korea and Malaysia are unable to work at the manufacturing facilities due to quarantine, illness or both. Why We Need A Connected, Digital Economy — Now More Than Ever. We see it everywhere.

Economy 112

Economy Online and Mobile Banking Innovation On-Demand 112

PYMNTS

MAY 1, 2020

Among the fascinating findings in PYMNTS’ ongoing surveys of Main Street SMBs during the pandemic is this: A majority of small businesses that did not apply for government bailouts simply wished to avoid debt. No matter what. Not even COVID-19 could tempt them. It’s a powerful statement on payments preference.

Online and Mobile Banking 52

Online and Mobile Banking Best Practices Adjustments On-Demand 52

PYMNTS

MARCH 31, 2020

It used to be that the 2008 financial crisis was the quintessential black swan event — a perfect storm where banks, consumers, businesses and governments scrambled to address the widening fallout of the U.S. housing market. The dot-com bubble in 2000 has often been cited as another black swan. Dealing With Seismic Shifts.

eWallet 80

eWallet Mitigation Data Breach Payments 80

PYMNTS

SEPTEMBER 14, 2018

The increase represents one of its highest growth rates since 2008. The ACH Network provides substantial value to everyone who sends or receives payments, including businesses, consumers, governments and financial institutions,” Larimer said at the time. According to NACHA, there were more than 3.3

NACHA 49

NACHA ACH Volume Same Day ACH 49

PYMNTS

FEBRUARY 3, 2019

Market economies only work properly if you have competition, and we have to make sure there is more in banking,” Sims told The Financial Times in the interview. “We He noted that regulators shouldn’t have allowed Westpac to merge with St George Bank back in 2008, reported The Financial Times. They have to feel under threat.”

Regs 40

Regs Regulations Rules FinTech 40

Fintech News

JANUARY 16, 2024

High mortgage rates and inflation pose a risk of stressed customers defaulting on their mortgages, potentially causing government interventions. China’s growing involvement in global economies and risks in its residential property sector demands scrutiny.

AI 100

AI Risk Non-Bank On-Demand 100