The financing package is part of IFC’s $8 billion global COVID-19 fast-track financing facility, which aims to help companies stay in business.

As governments issue movement restrictions to help curb COVID-19, businesses accelerated their digital transformation which includes, among others, digital payments.

This loan to Daycoval is being granted as part of IFC’s global response to combat the economic impacts of the COVID-19 pandemic.

Debt relief measures by micro-loan providers in Cambodia are failing to alleviate the serious financial burdens on indebted families affected by the COVID-19 pandemic.

The State Bank of Pakistan has extended a number of measures taken to mitigate the impact of COVID-19 from their original deadline of 30 June / 30 September, to 31 December.

The value of transactions on the Unified Payments Interface, a platform created by India’s largest banks in 2016, reached an all-time high last month as people feared to handle banknotes amid the pandemic.

Since the outbreak of the COVID-19 pandemic, online purchase transactions have been on the rise in countries including Brazil and Mexico.

With Mastercard Cross-Border Services, financial service providers can seamlessly process digital payments leveraging its global network through a single connection, the company said.

Cash transfers from Yemenis abroad to their country have declined by 80 percent in the first four months of 2020, Oxfam announced on Thursday.

A federal stimulus program to combat the recent economic downturn is pushing more community banks to embrace financial technology partnerships.