As contactless payments become the norm amid the worldwide pandemic response, China rolled out its digital currency this month in four cities, setting it up to become the world’s first cashless society.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno championed the use of e-payments amid the Luzon-wide, enhanced community quarantine (ECQ) to minimize face-to-face transactions and prevent the spread of COVID-19.

In this worldwide 'lockdown' situation enforced for preventing COVID-19, expatriate Bangladeshis are relying on online-to-wallet money transfer service to send remittance to their loved ones back home.

The World Bank projected global remittances to plunge almost 20 percent in 2020 due to issues related to the COVID-19.

Consumer use of mobile finance, banking and insurance apps jumped 71 percent in 2019. In 2020, however, they’ve gone from nice-to-have to essential.

All major state-owned and private banks have stopped lending to non-banking financial companies (NBFCs) due to concerns about their financial health.

These efforts are helping to deliver immediate relief to frontline workers and populations within communities most impacted, as well as supporting longer-term investments in programs focused on economic recovery and financial stability.

Use of contactless mobile payments — services that once struggled to catch on in the U.S. — is surging as people come to see their phones as the safer way to pay.

If approved by country’s financial regulator, it would be among the first such service under the social media giant’s Facebook Pay application.

In response to the economic disruption from COVID-19 pandemic, the Central Bank of Kenya announced a set of directives promoting digital transactions to curb the spread of COVID-19. These directives have significantly impacted the banks and mobile money agencies.