In the current environment there has been significant growth in adoption of contactless payments, both globally and in India.

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances coursed through banks declined by 6.4 percent to $11.55 billion from January to May compared to $12.35 billion in the same period last year.

VISA surveyed 4,500 consumers and 2,000 small businesses in eight countries—the U.S., Canada, Brazil, Germany, Ireland, Hong Kong, Singapore and the U.A.E.—from 18 - 29 June 2020.

Nepali missions abroad are verifying applicants’ status before recommending their names to the government to provide them airfare from Migrant Workers Welfare Fund.

This was a top-up loan of $4 million to support microfinance sector during challenging environment brought about by COVID-19 crisis.

The aim of the additional financing is to help local businesses with disrupted cash flows sustain operations and maintain jobs.

The investment particularly aims to bolster the ability of micro and small enterprises to continue operations in an environment made difficult by the COVID-19 crisis.

Ministry of Economy and Finance undersecretary of state Ros Seilava told a news conference that the economic crisis instigated by COVID-19 had been the primary trigger for the emergency SME lending endeavours.

The proceeds of the Social Bond will be used to finance small and medium-sized enterprises within the trade, services and agriculture sectors, in particular the food industry, commercial stores and farms.

Brazil’s central bank has authorized testing of payments via Facebook Inc’s messaging service WhatsApp in the country easing an outright ban on the service imposed last month.