David Heun

Singapore Telecommunications Ltd. has completed its acquisition of data security vendor and researcher Trustwave, about four months after the companies initially announced the deal.

CHICAGO — Financial institutions have fallen behind the payments innovation curve, though they can catch up quickly by adopting the faster payments initiatives that are accompanying mobile and digital transactions.

CHICAGO —Heartland Payment Systems CEO Bob Carr will never be accused of not making his feelings known about the Merchant Customer Exchange mobile wallet venture.

The Automated Clearing House is too expensive and complex to provide faster payments for smaller banks and businesses, claims Dwolla, which contends its open system is a better option for those market segments.

CHICAGO — First-generation mobile wallets found themselves in an "unfair fight" against the likes of Starbucks and its branded mobile pay and loyalty system, forcing Google to rethink how it would position Android Pay, Google executive Jack Connors said.

Digital money transfer provider SimbaPay has expanded its deposit service to Choice Microfinance Bank, an institution founded by Kenyans abroad.

The expected launch of Android Pay mostly hit a false alarm last week, but a few signals support the obvious — that the mobile wallet reincarnation of Google Wallet should be right around the corner.

Competition among e-commerce payment gateway providers in Australia has heated up, as key companies have had more than a year to get footing in a country increasingly adapting to new payments technology.

London-based mobile point of sale provider SumUp has received 10 million euros [$11.2 million U.S.] in funding from investors, including American Express, Groupon and BBVA Ventures.

European mobile point of sale gateway provider payworks will offer its service through Miura Systems' EMV and Near Field Communication mobile terminals.

The Debit Network Alliance last week officially launched its shared application identifier (AID) for EMV debit routing, but merchants likely won't be in any rush to implement the technology despite the fast-approaching Oct. 1 liability shift.

Electronic multi-card device maker Coin has added technology to enable contactless payments at some retail locations.

Loyalty programs have often been considered a key motivator to shift consumers to mobile payments and away from cash and cards. But few companies have actually blended mobile with loyalty in a compelling way.

U.K.-based grocer Sainsbury's is readying a contactless payment shopping app that allows consumers to pick out items before they even get to the store and confirm payment upon leaving through a "payment zone."

More than 212 million biometric authentication devices will be shipped over the next decade for use in financial services, according to recent Tractica market research.

In landing a network agreement with Brazil's Elo Global Cards last week, Discover Financial Services gained another ally in its ongoing push for global expansion.

Though most merchants will be liable for fraud if they do not upgrade to EMV-chip card terminals by the start of October, many do not see themselves affected by fraud on the same scale as the major retailers that have suffered massive data breaches.

Heartland Payment Systems has certified Digital Dining and its iPad-based point of sale system for its EMV-ready security technologies.

The Tel Aviv-based fraud prevention provider Forter insists that the legacy security model for e-commerce won't scale enough to combat the sharp rise in fraud coming in the post-EMV economy.

MasterCard and First Tech Federal Credit Union are testing a system that might be the picture-perfect solution to the expected rise in e-commerce fraud following the October shift to EMV security in the U.S.