PYMNTS

AUGUST 4, 2020

But Visa’s Kevin Phalen told Karen Webster in a conversation about the Back to Business study that none of that is surprising. What Visa witnessed worldwide within the pandemic’s first 60 days of shutdown was SMBs embracing new channels during “that really critical time,” he said. SMBs Still Need Help.

Small Business 126

Small Business Shutdown Point-of-Sale (POS) Contactless Payments 126

PYMNTS

JUNE 19, 2020

More help for certain small business owners could be on the way if Congress approves another round of Paycheck Protection Program (PPP) loans. The Prioritized Paycheck Protection Program (P4) Act would allow businesses with fewer than 100 employees to get a second loan. In the House, U.S.

Small Business 91

Small Business Shutdown Underserved Treasury 91

PYMNTS

DECEMBER 23, 2020

China’s State Council announced late Tuesday that small and micro-sized businesses can defer loan payments past first quarter 2021 as needed, according to CNBC. Certain banks catering to small businesses will also continue to receive government support in the wake of a massive shutdown earlier this year due to the COVID-19 pandemic.

Economy 69

Economy Returns Shutdown Small Business 69

PYMNTS

JANUARY 8, 2021

There's no doubt that the small business community is facing a period of immense tribulation. In addition to navigating forced shutdowns and supply chain disruptions, business owners are now tasked with making some difficult decisions about how to keep their business alive, or whether to throw in the towel.

Finance 92

Finance Small Business Credit Union Shutdown 92

PYMNTS

APRIL 2, 2020

The Federal Reserve Bank of Minneapolis President Neel Kashkari said on Thursday (April 2) that policymakers should be generous with the help that is extended to small businesses. We need to err on the side of being generous, helping as many small businesses, as many small profits as we can to retain their workforce,” he said.

Fed 52

Fed Federal Reserve Small Business Shutdown 52

PYMNTS

APRIL 29, 2019

With first-quarter earnings reports rolling out, it’s time to take a look at the state of small businesses and how they fared for the first three months of 2019. Research also revealed new signs of an impending recession in the form of dwindling numbers of small business exits. Beyond the U.S.,

PayPal 67

PayPal Small Business Ransomware Shutdown 67

PYMNTS

SEPTEMBER 24, 2020

Turn the clock back a year and the world for small businesses was very different on the eve of the 2019 holiday-shopping season. According to Ingo’s data, only 37 percent of small businesses were citing cash flow as a major concern, down from more than 60 percent two years earlier. Making The Move To Modernization . .

Checks 105

Checks Small Business ISOs Point-of-Sale (POS) 105

PYMNTS

SEPTEMBER 30, 2020

job market continued to slowly recover in September, although small businesses reported only small gains. However, small businesses continued to demonstrate slower growth.”. Midsized firms (50-499 employees) filled another 259,000 positions, while small businesses (one to 49 employees) took on 192,000 new workers.

Small Business 52

Small Business Shutdown Economy Continuity 52

PYMNTS

AUGUST 4, 2020

The first half of 2020 was a tough time to run a small business on Main Street as stay-at-home orders closed down restaurants and retailers for much or all of the past five months. That left small and medium-sized businesses (SMBs) scrambling to rapidly switch to digital to keep at least some revenue coming in.

Real Time Payments 72

Real Time Payments Point-of-Sale (POS) Small Business Settlement 72

PYMNTS

DECEMBER 16, 2020

Main Street SMBs across the board are fairly optimistic about the return to normal in the economy – largely premised, it seems, on the recent news of vaccine development. The majority of businesses (74 percent) expect yet another round of lockdowns. There's a Big Gap Between When Consumers and SMBs Expect COVID-19 to End.

On-Demand 112

On-Demand Shutdown Returns Economy 112

PYMNTS

JUNE 22, 2020

This is a key point: When consumers pull back on spending in the service economy, the people who suffer most immediately (and long term) are the workers who provide those services. Low wage hourly workers in small businesses in affluent areas are especially likely to have lost their jobs.”

Consumer 90

Consumer Small Business Push-to-Card Research 90

PYMNTS

AUGUST 5, 2020

While the revised number for June was good news for the economy after May’s increase of 3.3 million jobs was added, the nation’s job market is short of the nearly 20 million jobs lost earlier this year as shutdowns began to prevent the spread of the coronavirus. Small businesses with between one and 49 workers saw job growth of 63,000.

Payroll 78

Payroll Shutdown Adjustments Economy 78

PYMNTS

SEPTEMBER 7, 2020

Lockdowns are easing, businesses are reopening in stages, and though there are headlines trumpeting vaccines that may be made available sooner than many people might have expected, the question lingers: Has the damage been irreparably done? is roughly six months into a global pandemic (as declared in March by the World Health Organization).

Shutdown 64

Shutdown Small Business Economy Payroll 64

PYMNTS

MAY 1, 2020

informed its small business customers that it submitted 220,000 applications this week to the PPP, with the information reportedly included in an email to clients whose loan applications had been submitted. Why Reopening The US Economy Should Be About Reinventing It. ” JPMorgan Chase Submits Nearly $18B In PPP Loans.

Audit 57

Audit Posting Cross-Border Shutdown 57

PYMNTS

MARCH 17, 2020

The coronavirus continues to have reverberations across the global stage, and is especially impacting developed economies, and in particular, the small businesses that are a key foundation of those economies. The impact, of course, will be huge. percent, from a previous 2.9 percent forecast.

SARS 64

SARS Economy Shutdown Fed 64

PYMNTS

SEPTEMBER 9, 2020

30 after months of coronavirus-induced shutdowns, Gov. Stringer found that around 2,800 small businesses have closed since March when the pandemic hit, including around 1,289 restaurants. New York City will reinstate indoor dining as of Sept. Andrew Cuomo said, as reported by The Wall Street Journal.

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Shutdown Procedures Origination Small Business 56

PYMNTS

AUGUST 11, 2020

banks are forecasting that up to half of small business loans will go into default, with an aggregated cost of $34 billion. In the United States, as detailed in this space last week, lingering shutdowns of brick-and-mortar businesses – especially restaurants and retailers – have led to cash flow pressures.

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Shutdown Credit Cards Small Business Research 87

PYMNTS

DECEMBER 17, 2020

That’s important, given the fact that Main Street SMBs are responsible for driving a significant portion of the economy, employing roughly 40 percent of the workforce. Interestingly, small business formation is at a multi-year high, as estimated by the Census Bureau. In an interview with Karen Webster, Visa’ s Head of U.S.

Small Business 46

Small Business Shutdown Point-of-Sale (POS) B2B 46

PYMNTS

MAY 10, 2018

Capital is the lifeblood of economies, and of the companies (and yes, of course, individuals) that collectively make things and provide services … and in the age of FinTech, the capital comes digitally and across innovative channels.

FinTech 49

FinTech B2B Small Business Central Bank 49

PYMNTS

JUNE 24, 2020

The United States economy is steadily reemerging from the COVID-19 pandemic-induced shutdown. Businesses are reopening to a different reality than the one that existed just three months ago, however. This requires businesses to spend most of their PPP funding on payroll. The centerpiece of these efforts in the U.S.

Payroll 94

Payroll Checks IRS Shutdown 94

PYMNTS

APRIL 16, 2020

Given the full-scale shutdown in the U.S. and around the world, the focus for everyone has to be on battling back the coronavirus first and re-opening the economy second. For small business clients, we built the first digital platform for the PPP program and we launched it 12 days ago.

Volume 63

Volume Push-to-Card Direct Deposit Small Business 63

PYMNTS

JULY 22, 2020

And according to new second-quarter data for the Yelp Economic Average, 55 percent of businesses that have shut down during the pandemic don’t plan to ever reopen. “As cities struggle to balance reopening their local economies and avoid becoming the next COVID-19 hotspot, we’ve seen U.S. business closures.

Shutdown 56

Shutdown Economy Adjustments Consumer 56

PYMNTS

MAY 7, 2020

For many firms, the last two months have represented the absolute worst of times as social distancing and forced closures have ground their businesses to a halt. Disney, for example, reported earlier this week that it has lost roughly $1 billion each day since the start of the shutdown. billion from $4.13

PayPal 99

PayPal Transactions Process Venmo 99

PYMNTS

MARCH 30, 2020

For most small businesses, the dawn of the new decade was filled with optimism for their futures. They are the very businesses that make America’s cities, towns and urban centers lively and vibrant and interesting — and make our communities culturally, socially and economically strong. A third (33 percent) aren’t sure they will.

On-Demand 92

On-Demand Credit Cards Returns Shutdown 92

PYMNTS

JANUARY 18, 2019

Rising interest rates reflect the expectations that the economy (and here we mean the U.S. economy) is on solid footing, and that inflation needs to be countered. Solid indeed, as profits in the consumer banking business for BoA were up 52 percent on the year to more than $3.3 Where the Spending Is — And Where It Isn’t.

Online and Mobile Banking 51

Online and Mobile Banking Volume Point-of-Sale (POS) Debit Card 51

PYMNTS

JULY 2, 2020

Even before any official shutdowns, 43.8 In the following weeks, Americans witnessed a blazing-hot economy reduced to a bed of coals astoundingly quickly. Business travel was down almost 67 percent, and sit-down restaurant dining had fallen off more than 85 percent; 52.3 Similarly, 49.4 Dining habits also shifted, with 35.3

Returns 52

Returns Consumer Research Shutdown 52

PYMNTS

MAY 25, 2020

The Facebook-sponsored Small Business Roundtable results were among the truly stunning aspects of the business side of the pandemic. On April 6, days after the SBA PPP program had gone live, one in four SMBs still didn’t think their businesses would survive the pandemic, and four in 10 still said they weren’t sure.

Shutdown 64

Shutdown Returns On-Demand Governance 64

PYMNTS

OCTOBER 19, 2020

More consumers mean more sales – and more sales means growth, expansion, jobs and prosperity for the business, its workforce and the local economy in which it operates. Restrictions still require that her business – and others’ businesses – operate at a much smaller capacity. Social proof can also work in reverse.

Blocks 79

Blocks Consumer Returns Small Business 79

PYMNTS

APRIL 27, 2020

When the Paycheck Protection Program (PPP) debuted earlier this month, it was heralded by some observers as a lifeline for small businesses that power Main Street in the United States. There’s certainly a movement of SMBs doing … well, something to preserve operations as the shutdowns spread out across almost all US states.

On-Demand 67

On-Demand Small Business Shutdown Payroll 67

PYMNTS

APRIL 22, 2019

there has been a bit of groundswell to curb the harm that such late payments may do to small businesses (SMBs) that work with the federal government. It also comes in the wake of a government shutdown that stretched across five weeks, when SMB owners had to navigate sudden cash flow bumps and interruptions. However, in the U.S.,

Government 43

Government Governance Small Business Payments 43

CB Insights

JULY 17, 2018

North 3rd Street Market opened in Williamsburg, Brooklyn, in May 2018, just in time for the dreaded L train shutdown. But with commercial rents continuing to rise in most urban areas, it’s been a challenge both for small businesses and national retailers to find affordable space.

On-Demand 69

On-Demand Automation Origination Fed 69

PYMNTS

JANUARY 17, 2019

After months of record highs, small business optimism has apparently begun a downswing — or has it? The latest research on the topic reveals a multifaceted view of small businesses’ economic and financial outlook in the U.S., for the forth month in a row, citing National Federation of Independent Business analysis.

Small Business 61

Small Business Research Shutdown Disputes 61

PYMNTS

JANUARY 18, 2019

The record-breaking government shutdown is at the center of debate, largely for its impact on unpaid government workers. While President Donald Trump authorized federal government workers to receive back pay when the shutdown is over, employees of vendors with government contracts are not guaranteed the same safety net.

Shutdown 71

Shutdown Governance Government Payments 71

CB Insights

NOVEMBER 9, 2017

. “The general consensus of the employee base is that there was mismanagement of finances,” said one former company executive… The day after the shutdown announcement, one Mode manager of an overseas office described receiving frantic emails from headquarters requesting immediate transfer of all funds and assets back to the US.

Online and Mobile Banking 78

Online and Mobile Banking On-Demand Shutdown Push-to-Card 78

PYMNTS

APRIL 13, 2020

workforce, and whose businesses had been hard hit by the #stayathome requirements of the COVID-19 pandemic. That was the day the SBA PPP rescue relief effort began accepting applications from banks on behalf of their small business customers. Small businesses can’t survive weeks without demand.

Payroll 115

Payroll On-Demand Returns Economy 115

PYMNTS

APRIL 14, 2020

Federal Reserve officials are facing a two pronged problem, Reuters reported: How do they reopen the economy while also making sure the coronavirus doesn’t have a second spike in infections later in the year? And in the coming weeks, even more could be necessary for other institutions or areas of the economy, Fed officials said.

Fed 57

Fed Federal Reserve Void Economy 57

PYMNTS

MARCH 6, 2020

Other countries, like China, have experienced mass shutdowns of some workplaces as well as furloughs and layoffs. Kudlow speaking out is the most public admission so far from the government that the coronavirus is affecting the economy. For small businesses, he said “we may wish to help them with some cash flow.”.

Shutdown 63

Shutdown Small Business Economy Government 63