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Seven senators, including Sen. Chuck Grassley, sent a letter requesting information on what steps the Justice Department was taking to address the issue.

In a bid to help small businesses whose transaction volumes don’t warrant acquiring a dedicated POS terminal, National Australia Bank is partnering with Visa and Quest Payment Systems to pilot a tap-on-phone solution that provides secure contactless card acceptance using the business owner’s smartphone.

Klarna raised another $460 million in fresh equity funding, pushing the Swedish company’s valuation to about $5.5 billion.

Mastercard has spent more than $4 billion on investments so far in 2019 to thread a needle between several must-haves in the digital payments market.

Managing compliance and breach risk make it harder to offer a good customer experience, but the cost of friction may be even higher, argues Bob Janacek, CEO of DataMotion.

Credit unions have recently announced personnel changes in a number of areas, including human resources, information systems and operations.

Credit unions not actively thinking about mergers are at risk of missing out, an industry expert warned at a recent conference.

Banks need to mitigate potential bias in algorithmic predictive models using artificial intelligence, as regulators are weighing how to oversee the emerging technology.

The information you need to start your day, from PaymentsSource and around the Web. Today: Mastercard looks for crypto experts; Monzo's security gap; Payveris's CUSO picks up investment; Ohio State goes digital for sports tickets.

Banks are right to fear the big tech companies that are eyeing financial services, according to Monish Kumar at Boston Consulting Group, who offers suggestions on how traditional lenders can protect their turf.