David Heun

The Federal Reserve Bank of Chicago has promoted Shonda Clay to executive vice president and product manager, a role in which she will also support the Fed's faster payments initiative.

When Square announced its payment processing deal with Starbucks three years ago, accompanied by a $25 million investment from Starbucks, it wasn't clear how the math would benefit the payment processor.

Merchants that sell digital goods each spend an average of $10.1 million a year on fraud-related costs — and many expect fraud and chargeback costs to rise in the coming months in the wake of the EMV chip card migration at the point of sale.

Eyeing Kuwait as a hotspot for technology development, online payment provider paysafecard is bringing its prepaid services to the country as a springboard to establishing itself in the Middle East.

Mobile person-to-person payment systems are poised to grow to about 126 million adult users by 2020 with nearly 60% of all mobile device owners using the service, according to newly published data from Javelin Strategy & Research.

Samsung may have a hard time convincing users of Samsung Pay that a breach of its LoopPay technology by Chinese hackers has nothing to do with payment card data or the security of the mobile wallet.

The major card networks operate from a position of strength as among the first movers in providing tokenization, but they must move with the market if they want to hold that position.

Gas stations have had a complicated relationship with mobile wallets. Pump hardware is notoriously difficult to upgrade, and besides that, many consumers believe that it's a fire hazard to use their phones while fueling up.

Newer banks in the U.K. now have an easier method for participating in the Faster Payments System through a pre-funding settlement process.

The Miami Heat basketball team is joining the mobile and contactless payment movement by offering fans a QR code-based mobile wallet system to make food, souvenir or ticket purchases from a mobile phone throughout the team's American Airlines Arena.