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Tag: payments

Trump may let workers take Social Security benefits early in exchange for reduced payments later. Retirement advocate calls it ‘harebrained idea.’

Trump may let workers take Social Security benefits early in exchange for reduced payments later. Retirement advocate calls it ‘harebrained idea.’

Finance
U.S. President Donald Trump speaks during a meeting with Republican members of Congress in the State Dining Room at the White House in Washington, U.S., May 8, 2020.Tom Brenner | ReutersPresident Donald Trump is reportedly considering another way to get more money to struggling Americans by letting them take an advance on their Social Security benefits.Many Americans are eager for more financial help from the effects of the coronavirus as the government wraps up sending millions of $ 1,200 checks to individuals who qualify.However, some Republican lawmakers are digging in their heels at the thought of sending more money, due to the high price tag.The Trump administration is said to be considering prepaying Social Security retirement benefits to workers before they are eligible, according t...
Fintech firm Adyen posts 34% surge in first-quarter revenue as coronavirus bolsters online payments

Fintech firm Adyen posts 34% surge in first-quarter revenue as coronavirus bolsters online payments

Finance
Pieter van der Does, chief executive officer of Adyen.Simon Dawson | Bloomberg | Getty ImagesDutch financial technology firm Adyen reported rising revenue and core profits in its first-quarter results Tuesday, as the coronavirus pandemic boosted online payments but impacted on margins.The company posted total first-quarter revenue of 135.5 million euros ($ 146.9 million), an increase of 34% from a year earlier. Adyen normally reports half-year and annual numbers, but decided to release an update on its performance at the start of 2020 due to Covid-19.Adyen's earnings before interest, taxes, depreciation, and amortization rose 16% year-on-year to 63.6 million euros, while its profit margin declined to 47%, from 56% last year due to investment into hiring and marketing and a hit to net reven...
Your biggest questions answered as coronavirus stimulus payments reach bank accounts

Your biggest questions answered as coronavirus stimulus payments reach bank accounts

Finance
NoDerog | iStock | Getty ImagesMillions of Americans received stimulus checks from the U.S. government this week to help stave off the negative economic effects of the coronavirus.But many people are still asking: Where is my money?If you haven't received your payment yet, take heart: Millions more Americans are slated to receive their money in the coming weeks.More than 80 million payments went out this week, while estimates have pegged the total number of payments at 171 million.The checks are slated to be $ 1,200 for individuals, $ 2,400 for couples and $ 500 for dependent children under 17.But you have to be below certain income thresholds to qualify for those full amounts: up to $ 75,000 in adjusted gross income if you are single; $ 112,500 if you file as head of household; or $ 150,0...
Coronavirus: Freeze on pawn, payday and car loan payments

Coronavirus: Freeze on pawn, payday and car loan payments

Business
People struggling with payday loans, car finance and pawn shop borrowing will be granted a payment holiday under plans by the City watchdog.The Financial Conduct Authority (FCA) said the measures would help borrowers who are experiencing money problems amid the Covid-19 outbreak.The FCA wants motor finance firms to grant a three-month freeze. It is also asking firms specialising in rent-to-own, buy-now-pay-later and pawnbroking loans to delay repayments.Those people with a payday loan will be given a one-month reprieve under the FCA's plan.Last week, the watchdog announced a three-month freeze on loan and credit card repayments."We are very aware of the continued struggle people are facing as a result of the pandemic," said the FCA's interim chief executi...
Coronavirus: New Look delays supplier payments ‘indefinitely’

Coronavirus: New Look delays supplier payments ‘indefinitely’

Business
New Look says it is suspending payments to suppliers for existing stock "indefinitely", telling them in a letter that the stock can be collected by its owners. The retailer is also cancelling orders for its Spring and Summer clothing lines and won't pay costs towards them.New Look told the BBC it did not take the decision lightly. "This is a matter of survival," it told suppliers.One small firm said New Look’s behaviour was “totally out of order”.'Challenges'The supplier, which provides clothing for several High Street chains and did not want its name published, told the BBC it was not currently owed money by New Look and had no outstanding orders with the retailer.However, it added that New Look’s approach would “devastate smaller companies down the sup