Fintech

Facebook is enhancing is transaction technology as payments increase in popularity on messaging apps.

Shugar has previously held technology positions at eBay, Yahoo, Verisign and The Thomson Corp., among other companies.

The deal had been held up by U.K. regulators over concerns about competitive balance.

The company's selling product that's similar to a store-branded card, but without the physical plastic. It hopes to appeal to small or midsize stores that don't want to run their own credit programs.

Bank of America Merrill Lynch, Citi and PNC Bank are the first three banks to adopt the service, which is aimed at customers who use Visa commercial cards to buy supplies from Amazon Business.

Bank of Montreal, Canada's oldest lender, has turned to a former investment banker with an interest in continued U.S. expansion to lead the firm into its third century.

Bank of America has added new features to its mobile banking app in an effort to build flexibility in mobile wallet options and more closely tie payments to financial services.

SEG-based CUs could see a particularly big benefit from the rules, observers say, but community-chartered institutions and others could also see a significant boost.

Both standards are confusing and not universally adopted. But both are a necessary baseline to protect merchants and payment companies.

With big companies frequently set in their ways for how they make cross-border payments, most innovation is targeted toward smaller shops that make fewer payments to foreign suppliers. But that isn't always the case.