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

DECEMBER 7, 2020

And the surge in eCommerce isn't isolated to the B2C world, either: as social distancing requirements and shutdowns migrate corporate buyers online, wholesalers, distributors and other B2B vendors are likely to face a similar holiday boon this year to fulfill rising customer demand. Small Business, Big Challenges.

Finance 142

Finance Small Business Underwriting B2C 142

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

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

FEBRUARY 14, 2019

Small Business Administration (SBA) loans have found a new avenue through which they can reach small businesses. SBA loans can be used for working capital, acquisitions, equipment financing, startup financing, debt refinancing and other small businesses finance purposes.

Shutdown 40

Shutdown Small Business Security Finance 40

PYMNTS

APRIL 12, 2020

PayPal has become one of the first non-bank institutions allowed to distribute loans to help small- to medium-sized businesses (SMBs) in response to the coronavirus pandemic, according to a press release. The government allotted $350 billion for that purpose as part of the recent $2 trillion federal CARES Act passed in March.

PayPal 107

PayPal Process Non-Bank Shutdown 107

PYMNTS

APRIL 8, 2020

The stimulus loans are guaranteed from the federal Small Business Association (SBA) and will cover about 2.5 times what a business makes as a wage bill, only applying to businesses which employ less than 500 people.

Shutdown 104

Shutdown Small Business Caps Government 104

PYMNTS

JULY 15, 2020

Many small businesses are at a dire, very real risk due to the pandemic, PYMNTS also reported recently, with some finding it impossible to keep up with multiple new state-mandated closures of establishments like bars. Larkin wasn’t alone in that — Harvard University researchers estimated that around 110,000 small U.S.

Federal Reserve 73

Federal Reserve Shutdown Economy Fed 73

PYMNTS

APRIL 12, 2020

PayPal has become one of the first non-bank institutions allowed to distribute loans to help small- to medium-sized businesses (SMBs) in response to the coronavirus pandemic, according to a press release. The government allotted $350 million for that purpose as part of the recent $2 trillion federal CARES Act passed in March.

PayPal 98

PayPal Non-Bank Shutdown Disputes 98

PYMNTS

MARCH 29, 2020

As a potential recession lurks, FinTechs, traditional banks and other financial institutions (FIs) are tightening the reins on loans to small businesses and households with shaky credit, The Wall Street Journal reported Saturday (March 28). Square and On Deck Capital are among the FinTechs planning to follow suit in the coming days.

Office of the Comptroller of the Currency 79

Office of the Comptroller of the Currency Small Business Credit Union Credit Cards 79

PYMNTS

AUGUST 5, 2020

While there was growth in Cash App, Square remains heavily indexed to small businesses including cafes and eateries through the company’s payment terminals. Instead, Square Capital loan volume was driven by the Paycheck Protection Program, which provided $873 million to more than 80,000 small businesses.

Tax Refunds 87

Tax Refunds Small Business Shutdown Venmo 87

PYMNTS

DECEMBER 27, 2018

At the same time that the European Central Bank is warning of a slowing global economy, small businesses in the U.S. Instead of hiring more workers, small business owners have now shifted their focus to finding new customers and clients. are expressing concern about their own growth prospects.

Central Bank 76

Central Bank Small Business Shutdown Economy 76

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

PYMNTS

APRIL 27, 2020

The Paycheck Protection Program (PPP), which is intended to distribute loans to small businesses affected by coronavirus pandemic shutdowns, resumed activity on Monday (April 27) and it wasn’t even a full day before more reports of now-familiar glitches and delays resumed as well. only about 1.6

Continuity 52

Continuity Small Business Shutdown Caps 52

PYMNTS

NOVEMBER 23, 2020

Before the pandemic, late B2B payments put a cash flow crunch on countless small and medium-sized businesses around the world. Now, amid the coronavirus crisis, many of those SMBs are getting hit even harder as supply chain disruptions, sluggish business and shutdowns have created a ripple effect of delayed invoice payments.

Small Business 82

Small Business B2B Shutdown Government 82

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

MAY 14, 2020

million from the program intended to boost small businesses who can’t make money due to the pandemic-related nationwide shutdowns. Cutera wasn’t alone — according to CNBC , there were several large businesses that traded stocks and made money even during the pandemic and also applied successfully for PPP funds.

Small Business 58

Small Business Shutdown Returns Treasury 58

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

AUGUST 12, 2020

As service providers in the business of disasters and disruptions, insurance companies have had a front-row seat to the ways the pandemic has affected their small business policyholders. But as Pogreb highlighted, small businesses also have an opportunity to change the way they interact with their insurance providers, too.

Small Business 91

Small Business Underwriting Direct Deposit Shutdown 91

PYMNTS

MAY 28, 2020

A measure that would make it easier for small businesses (SMBs) to get their hands on a forgivable federal loan has easily passed the House, The Wall Street Journal reported. The initial eight-week time limit for use of the funds doesn’t work for many owners who have been issued shutdown orders.

Rules 53

Rules Underserved Payroll Treasury 53

PYMNTS

FEBRUARY 18, 2019

The code noted that trade between businesses within the country amounts to over $550 billion annually, and that “no business exists in isolation, and everyone benefits when the nation has a viable and productive small business supplier base.”. Lingering Effects From Government Shutdown.

Shutdown 49

Shutdown Payments Government Governance 49

PYMNTS

SEPTEMBER 7, 2020

In March, American Express — the largest commercial card issuer — was next in line to face criticism for its commercial card fees, with accusations that sales associates misled small businesses with regards to rewards and fees on the company’s SMB card products. In late-March, Bloomberg reported that large U.S. Summer Trips: Canceled.

Commercial Card 98

Commercial Card Push-to-Card Small Business Card Issuer 98

PYMNTS

SEPTEMBER 18, 2020

Independent coffee shops weren’t totally tuned out when it came to digitization in the pre-COVID-19 world, but it wasn’t an area of focus for them, according to Tim Griffin, founder of small business payments platform Cloosiv and chief product officer of its new parent company, Odeko. And it’s been all hands on deck ever since.”.

Small Business 105

Small Business Shutdown Returns Processing Costs 105

PYMNTS

NOVEMBER 16, 2020

The Wall Street Journal reports that New York City restaurant owners are "beleaguered" and hoping that their businesses won't be affected by future government-related shutdowns as the winter rolls on.

Shutdown 44

Shutdown NOV Small Business Governance 44

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

MAY 7, 2020

The new payment tool was designed for small businesses looking to move from brick-and-mortar to eCommerce, the news service reported. As COVID-19 has forced shutdowns and social distancing, web sales have been on the rise, and many entrepreneurs are moving their business models online.

Payments Tools 61

Payments Tools PayPal Shutdown Payments 61

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

JUNE 22, 2020

To get a sense of stagnant spending from the affluent can be damaging, consider the fact that, according to the paper, Small business revenues in the most affluent ZIP codes in large cities fell by more than 70 percent between March and late April, as compared with 30 percent in the least affluent ZIP codes.

Consumer 90

Consumer Small Business Push-to-Card Research 90

PYMNTS

APRIL 20, 2020

As the coronavirus pandemic continues, both Deluxe and Fiserv have begun offering articles, advice and tools for businesses hurting as a result of the economic shutdowns from the pandemic. Clover is available through Deluxe’s new Small Business Solutions Center.

Point-of-Sale (POS) 64

Point-of-Sale (POS) Shutdown Debit Card Contactless Payments 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.

Shutdown 56

Shutdown Procedures Origination Small Business 56

PYMNTS

MARCH 29, 2019

That’s a wise maxim to follow in any business. As the latest Credit Union Innovation Playbook shows, credit unions stepped into the uncertainty of the government shutdown earlier this year by offering zero percent interest loans or deferring loan payments. It’s especially true for financial services.

Credit Union 40

Credit Union Fraud Prevention Consumer Shutdown 40

PYMNTS

MAY 13, 2020

billion program to support smaller businesses hit hard by the shutdown. The plan, implemented by state-backed lender Caixa Economica Federal, aimed to help around 3 million businesses in the country whose revenue was less than 360,000 reais ($69,458). In April, the government there planned a $1.9

Shutdown 56

Shutdown Processors Credit Cards Small Business 56

PYMNTS

MAY 13, 2020

He said adding restrictions on apps would only drive up costs for small business owners, slow down order volumes, and cause costs on customers to rise. Grubhub spokesman John Collins, in response to the news, told Bloomberg the proposed restrictions wouldn’t hold up.

Caps 56

Caps Shutdown Small Business Volume 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.

Shutdown 87

Shutdown Credit Cards Small Business Research 87

PYMNTS

AUGUST 5, 2020

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. We have seen the slowdown impact businesses across all sizes and sectors.”. Small businesses with between one and 49 workers saw job growth of 63,000.

Payroll 78

Payroll Shutdown Adjustments Economy 78

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) Settlement Small Business 72

PYMNTS

JULY 1, 2020

Compliance risk is increasing due to new assistance programs for consumers and small businesses, resulting in high call volumes and reassigned staff implementing new practices and procedures.”. As noted in this space last month, Brian Brooks, acting Comptroller of the Currency, said in letters to the National League of Cities, U.S.

OCC 66

OCC Compliance Risk Office of the Comptroller of the Currency 66