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Some say the U.S. payments infrastructure is a prime target for government-sponsored cybercriminals. But the aged and fragmented nature of our infrastructure could, for once, work in its favor.

Features

Orrstown Bank launched several innovative web initiatives in 2015, including a SMS two-way texting platform and a Zillow-like feature that displays housing listings on its Web presence.

The honorees, selected by the editors of PaymentsSource, are responsible for businesses and innovations as diverse as the payments industry itself.

Bank of Prairie Village in Kansas went through a core conversion last year. Its chairman hopes that his sons, who are set to take over the bank eventually, won't be afraid to embrace new technology since they've experienced the scariest of all bank IT projects.

Human error opens the door for most cybersecurity incidents. mBank in Poland, U.S. Bank and Bank of the West are working to make consumers more aware of the dangers of bad online habits.

Rather than partner with a startup, 45-year-old Equitable Bank in Canada created a separate brand, EQ Bank, to acquire customers who are ready for an account without a debit card.

Developers will now be able to access much of Visa's technology and services as the card network looks for ways to meet the demands of consumers increasingly relying on connected devices to transact.

As community banks need to make their budgets stretch further, some are looking to vendor consolidation as a way to gain a competitive edge through fewer IT headaches and a more uniformed customer experience.
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Cross-border payments, even small ones, take days to clear, cost 5% to 10% of the payment amount, and can be baffling to the consumer. Zenbanx, TransferWise and Ripple and other startups are trying to change this.

Bank of America has nearly three dozen patents pending related to blockchains. More banks are expected to seek patents as the technology associated with cryptocurrencies creeps closer to widespread use.
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HSBC is testing a new money management app that uses push notifications to nudge customers into saving more and spending less.
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Disruptors
The honorees, selected by the editors of PaymentsSource, are responsible for businesses and innovations as diverse as the payments industry itself.  read more »
8 Things Apple Pay Left Out

Apple's long-anticipated move into mobile payments seemed to cover all the bases -- Apple Pay will launch with the support of major banks, card networks and retailers. But there were several things that didn't make it into the first version of its mobile wallet.

(Image: Bloomberg News)