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Wells Fargo On What It Will Take To Revive The SMB Economy

PYMNTS

Small- and medium-sized businesses have been hit hard by the pandemic, but most are scrambling into digital pivots to blunt the impact of physical stores’ shutdowns, Colleen Taylor , executive vice president and head of merchant services at Wells Fargo , told Karen Webster during a recent conversation. A Focus on Contactless Commerce.

Economy 98
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What Earnings Portend For Payments, Lending, Fitness And The Gig Economy

PYMNTS

For the last several weeks speculation has run rampant on what the real effects of the COVID-19 pandemic and resultant shutdown would end up being by the numbers when the Q1 earnings officially hit the wires. There was some upside to Square’s earnings report — the surging popularity of Cash App pushed by stimulus payment deposits.

Economy 75
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As Economies Slow And Global Debt Grows, Red Lights Flash

PYMNTS

The economic slowdown that has been flagged this week by the International Monetary Fund (IMF) is one that may be sparked in part by a no-deal Brexit , and fanned by a consistently slowing Chinese economy. My, that dance card’s getting crowded.) is not helping matters. In a word, a four-letter one: debt. trillion in 2017.

Economy 48
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Why Gig Payments Need To Be Just Like Cash

PYMNTS

When looking at the latest edition of the PYMNTS and Hyperwallet Gig Economy Index , there are some familiar trends. percent of workers participate in the gig economy, and about two-thirds source their gigs via digital marketplaces. According to the data, 35.9 percent reported still having a full-time job.

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Strong Venmo and QR Code Payments Growth Help PayPal Score Record Q2 Earnings

PYMNTS

In an earnings season defined by diminished expectations amid the worldwide economic shutdown, PayPal not only beat analysts’ expectations Wednesday (July 29) but enjoyed a record quarter. The world has moved to a digital-first economy and I don’t think there is any going back,” Schulman said.

Venmo 84
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How The Global Pandemic Fast Tracked Mobile Payments In India

PYMNTS

The COVID-19 pandemic has bolstered mobile payments in India and primed them to overtake card payments in the not-too-distant, S&P Global Market Intelligence said this week in its 2020 India Mobile Payments Market Report. By contrast, debit- and credit-card use only increased by 24 percent to $204 billion during the same period.

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The Pandemic Is Accelerating India’s Move to Mobile Payments

PYMNTS

The COVID-19 pandemic has bolstered mobile payments in India and primed them to overtake card payments in the not-too-distant, S&P Global Market Intelligence said this week in its 2020 India Mobile Payments Market Report. By contrast, debit- and credit-card use only increased by 24 percent to $204 billion during the same period.