Fintech

The parent of Alipay is also investigating uses for biometrics and artificial intelligence.

Rather than killing off the plastic card, smartphones are strengthening it. Many issuers' card accounts are more valuable than ever, with perks made possible only through the development of smartphone apps.

The wave of new technology for CFOs should include easier invoicing and a user experience that resembles consumer e-commerce.

American Express Co., the largest U.S. credit-card issuer by purchases, said fourth-quarter profit fell 8.2 percent as expenses exceeded analysts’ estimates and the firm set aside more money to cover bad loans.

BBVA Compass has renewed its long-term payment services agreement with TSYS for processing consumer, commercial and small-business credit cards.

The Western Union Company agreed to pay $586 million and admitted to a lapse in anti-money laundering controls in an agreement with the U.S. Justice Department and other U.S. authorities.

Michael Corbat told analysts Tuesday that Citi will no longer report Citi Holdings, its erstwhile "bad bank," as a separate entity.

The $9.9 million CU will retain its identity even as it becomes part of much larger organization.

Quicken is working with PayNearMe's Prism RESTful API to allow customers to see real-time transaction data and historical account information from significantly more billers in the Quicken personal finance platform.

Consumer adoption numbers indicate most mobile wallets are stuck in the mud, but key wallet providers have made enough advances in other critical areas to suggest there is still potential in this market, Celent researchers say.