Fintech

The Bokis wallet's new app is scheduled for broad release this summer. It's a rare success for collaborative wallets, as others have failed, such as the U.S.'s Softcard and CurrentC, the U.K.’s Weve, Canada’s suretap and Singapore’s SmartWallet.

CVS Pharmacy is the latest retailer to join PayNearMe’s network for walk-in bill payment, expanding the service’s geographic reach by about 40%, to 28,000 U.S. stores.

The Arizona company said Kenneth Vecchione would be a candidate to eventually replace CEO Robert Sarver.

The move will help consumers directly authorize payments to third parties without providing the physical card or full account details.

Even as consumers embrace digital payments in the U.K., the value and amount of cash in circulation remain high.

Jack Henry will be able to provide full-service credit and debit card processing to all existing core bank and credit union clients on a single platform.

The acquisition will make the Tennessee company one of the biggest banks in the Southeast, with assets of more than $40 billion.

When American Express debuted its Bluebird prepaid card in Walmart stores nearly five years ago, it was a sharp detour from the card brand's status as a product for the elite. But rather than bridge these two worlds, the Bluebird card has kept its market walled off.

Innovators offer speed, but banks retain customer relationships and a vast product range that can add services to payments.

Some investors have raised questions about the credibility of the firm’s leadership since credit card issuer announced that its loss reserves would surge this year.