PrivacyCheq, a financial technology company in York, Pa., has launched a service that hosts streamlined versions of banks' privacy notices that can be pushed out to smartphones, tablets and desktops.
Customers of Simple, a unit of BBVA, have complained in recent weeks about delays and failures in scheduled payments, highlighting digital-only banks' dependence on third-party providers and antiquated legacy systems.
American Express is seeking ideas from outside researchers on how to cater to underbanked consumers and potentially refine its Serve prepaid account.
Apple's desire to maintain tight control of the payment experience is likely to wind up pushing banks away from iPhones and toward Android and host card emulation technology.
To obtain approval and funding for security improvements, bank technologists have to make their case by pointing to losses from recent security breaches. But calculating those losses can be tricky.
The Bill and Melinda Gates Foundation will provide $100,000 to organizations that promote the use of digital payments for the poor.
Microbranches have their merits but banks should be aware that changes in technology and customer preferences could render them obsolete.
Citizens Financial Group in Providence, R.I., is expanding its banking unit that focuses on the technology sector.
Until we know without doubt with whom we are transacting, the legacy payment networks cannot be made secure for Internet-sourced electronic payments.
The New York Times' Neil Irwin says Apple Pay is trying to solve a problem that isn't a problem, but hes missing the point.
The banks involved in Apple's mobile payment platform cite the enhanced security, intuitive user experience and brand name. Even if they sacrifice fees, they could make it up on volume.
Apple will collect fees from banks when consumers use an iPhone in place of credit and debit cards for purchases, a deal that gives the handset maker a cut of the growing market for mobile payments, according to three people with knowledge of the arrangement.
Within the past 12 months, one large retailer after another has fallen victim to a massive data breach. But at least the pilfered data is getting harder for thieves to monetize.
Apple is betting that tokenization systems offered by payment processors will provide a security boost to its new Apple Pay system at a time when consumers are wary of Apple's cloud-based services.
Apple has officially unveiled Apple Pay, a new mobile payment system in its upcoming line of smartphones, using a model that involves legacy payment companies but adds a new spin.