Fintech

Samsung sees banking as a long game, and Samsung Pay is its first move. As mobile banking grows, the Korean electronics company believes financial services is ripe with opportunity.

South Korea’s LG last year rolled out LG Pay, a mobile wallet that took an indirect approach to contactless payments by leveraging Bluetooth technology to link to a proprietary “white” card that stored a user’s payment cards. The concept never took off, and a new report suggests LG is making another run at mobile payments, using different technology.

Samsung Pay is steadily spreading across the globe and adding new features, but it's also facing some strong challenges in these markets. Here are a few of the biggest issues Samsung's mobile wallet has faced since launch.

SourceMedia, the publisher of American Banker, has unveiled a major content and user experience upgrade to PaymentsSource, its flagship resource for the payments industry.

Prepaid cards and new mobile innovation in prepaid can bring speed and improve user experience for many different payment types and other financial services.

Small businesses hungry for financing will quickly ditch a banking relationship if they are unhappy, according to a new J.D. Power report.

Apple Pay became a significant benefactor at Apple's new product presentation Oct. 27, as the mobile wallet's Touch ID authentication is incorporated into a flashy new MacBook Pro keyboard.

Fuel payments operator WEX Inc. has deepened its relationship with ExxonMobil Corp., signing a 10-year extension to its North American fleet card contract with ExxonMobil and Imperial Oil Ltd. of Canada to continue a relationship that began in 2007.

When Early Warning acquired clearXchange—soon to be renamed Zelle—late last year, the acquisition was applauded by banks that make up the P-to-P payments network because it brought Early Warning's various fraud detection technologies into play.

One of the nation's biggest prepaid card companies said that it expects to lose 10% to 12% of its current revenue as a result of new federal rules governing the industry.