Merchant

The Wells Fargo phony bank and credit card accounts scandal is barely five weeks old, but it felt like John Stumpf had been hanging on for five years.

CHICAGO -- Investment organizations are bullish on retail and its underlying payments and omnichannel technology, though Amazon's e-commerce dominance is throwing some cold water at the market.

CHICAGO -- At some point, the Federal Reserve Bank's three-year journey to create a faster payments system in the U.S. will run head long into one of its major challenges -- making sure it can operate within all networks.

Institutions should define data "liabilities" and "assets" and represent them in a way that both touts data successes and is transparent about data gaps.

Nok Nok Labs is upgrading its mobile device risk-based authentication software to improve support for biometrics and other alternatives to passwords.

According to recent data, only 21% of retail executives are more confident now than a year ago about their company’s ability to deliver omnichannel services, while 45% said their efforts are not advancing fast enough.

Square Inc. tried to sell its food-delivery business, Caviar, but couldn’t find a buyer willing to pay enough, according to people familiar with the matter.

Vincent Wang needed new jeans and a coat just before classes began this semester at the University of California, Davis, where he studies nutrition. Rather than trek several miles off campus to the nearest Target or Walmart, he ordered the clothes from Amazon.com Inc. and retrieved them from new Amazon pickup lockers right next to the university store that sells Aggies T-shirts and hoodies.

In an age in which organizations such as Swift are subject to attack, traditional perimeter security defenses are no longer enough to stop attackers from getting into the system and stealing valuable information.

Arguably the biggest shift was that of Avid Modjtabai, the head of consumer lending, who has been named chief of the new payments group focused on digital and online offerings, investments in research and development and strategic partnerships.