Fintech

Only 13% of an estimated 680 million iPhone users have ever used Apple Pay, according to a report from the Wall Street Journal, which cites data from venture capital firm Loup Ventures.

The Houston company was formed in 2009 to buy struggling banks in the wake of the financial crisis.

Charlie Scharf, the former chief executive officer of Visa Inc., was named chairman of the New York City Ballet, the largest dance organization in the U.S.

Facebook’s WhatsApp, the Mountain View, Calif.-based messaging app with a broad global following, may be preparing to roll out person-to-person payments, beginning with its app in India.

The European Central Bank issued a new 50-euros banknote April 4 across 19 countries in the euro zone, the fourth new bill for consumers in what is termed the Europa series and includes euro denominations of 5, 10 and 20.

The process of making cross-border payments to global suppliers is a hodgepodge of technology, banking systems and other factors that can lead to high error rates. And for most companies, such payments occur too infrequently to invite improvements to the process.

Businesses are shedding paper checks in favor of electronic payments, but the migration is not as easy as consumer payments.

The prepaid card issuer was accused of deceiving customers in ads claiming that getting approved was easy, and funds would be available right away.

Splitit has partnered with Magento, the open-source e-commerce platform, enabling merchants to integrate Splitit’s monthly credit payment option into their checkout processes.

Total System Services' prepaid unit, Netspend, will pay consumers who bought its cards up to $53 million to resolve a Federal Trade Commission suit alleging that the company misled consumers about accessing funds.