Merchant

Apple Pay's move to the Web is exactly what Vantiv had in mind when launching Vantiv One Network Experience two months ago as a multi-channel app developers' playground.

For large banks, the risks of partnering with marketplace lenders do not matter. But small community banks can't afford to partner with competitors angling to poach their customers.

Walmart Stores Inc. will stop accepting Visa Inc. credit cards at all 16 of its stores in the Canadian province of Manitoba as of Oct. 24, extending a ban that began two months ago in Thunder Bay, Ontario.

Even with advanced technology, fraudsters need a lot of help to get their hands on secure payment or personal data. One in five businesses apparently are unwittingly providing that help by not performing any security testing, according to new research.

"Rent-seeking" is a widely recognized economics term that refers to when people or groups try to obtain economic benefits for themselves through a subsidy in the political arena. In Washington, the term has special significance. Special-interest groups regularly try to gain subsidies by securing a special regulation that disadvantages competitors.

Hari Gopalkrishnan, Bank of America's managing director of client facing platforms technology, is adamant that the bank doesn't need to have its own mobile wallet today.

For First Foundation, the government-backed program should help address a recent CRA exam's criticism that it has "poor penetration among businesses of different revenue sizes."

Blue Hills Bancorp in Norwood, Mass., expects to record a third-quarter chargeoff tied to a commercial borrower that may have committed fraud.

Electronics giant Best Buy will accept Chase Pay mobile payments in its stores, a move that clarifies the Merchant Customer Exchange's new role as distributor for Chase's QR-code-based system.

Nearly a year after the October 2015 liability shift, a mere 17% to 37% of all US merchants have adopted EMV POS terminals.