Merchant

A Russian cybersecurity software company reported last week that a new group of cybercriminals had stolen $10 million from 16 community banks. But there's no hard evidence that actually happened.

In a move designed to strengthen its capabilities for integrated payments, processor and technology provider Total System Services has agreed to acquire Cayan for $1.05 billion. The news shortly follows another deal valued in the billions — Thales agreeing to buy the chip maker Gemalto for $5.4 billion.

If we are going to make these global transactions easier for payers and receivers, these incumbents have to accelerate their progress and level of innovation, writes Mike Massaro, CEO of Flywire.

The cloud, open development and onboarding tools should get a boost from PSD2, with mandates that banks make it easier to share payment data with fintechs in Europe.

SMBs are choosing virtual cards as their preferred form of electronic payments because they solve many of their payment challenges, while also helping them avoid the costs associated with custom software solutions designed for larger businesses, writes Blair Jeffery, COO of Noventis.

While at Klarna, Billingsley collaborated with Modo as part of a partnership between the two companies.

Visa research contends consumers are interested in biometrics and consider it superior to traditional usernames and passwords.

As shopping habits evolve, e-commerce and m-commerce methods such as in-app and one-click ordering are becoming increasingly popular. In addition, the exponential growth of the IoT is introducing a wealth of new payment use-cases, such as connected cars, writes André Stoorvogel, Director, Product Marketing in the Payments Group at Rambus.

More retailers are accepting mobile wallets, but few agree on what that entails. Many stores are coming up with their own wallets by building on past successes or burying payments deep under the surface of their mobile channel.

The company said it will lay off more than a dozen employees in a move that reflects the current volume of mortgage loan originations.