Merchant

There’s no way to gift-wrap the EMV woes for issuers and retailers around the upcoming holiday sales season.

Acquirers and independent sales organizations have long heard a similar refrain: Adjust to the fast pace of technology or perish.

The recent security incident involving Oracle POS systems demonstrates once again that no system is immune to security breaches.

Citigroup Inc. mistakenly sent e-mails to some active Costco Wholesale Corp. members telling them their wholesale club membership had lapsed and that their cards would be canceled, bringing a fresh headache to the new partnership.

As it charts a long-term digital payment strategy, TSYS has hired Karim Ahmad, a management consultant with a background in financial technology, to be as head of global product and innovation.

This week Minneapolis-based U.S. Bancorp is launching a new consumer account that's designed to appeal to millions of Americans shut out of the mainstream financial system.

The promise of faster EMV technology is a welcome reprieve for many ISOs who have grown weary of listening to merchants gripe about the snail's pace of chip card transactions. That reprieve, however, may not be so quick in coming.

With all the innovation and momentum around consumer wallets and payments, payment security is a huge concern to banks, merchants, issuers, payment networks and any new wallet provider.

The shifting attitude of Asian consumers such as Chiu is upending the economics of the credit-card industry, and banks like Citigroup Inc., HSBC Holdings Plc and Standard Chartered Plc are taking note. The banks, which increasingly rely on the region’s swelling number of affluent people to drive profits, are slashing the number of card products they offer in Asia and focusing instead on getting a smaller range of cards adopted for online payments.

After the whirlwind of payments innovation in 2015, 2016 has felt rather stagnant in comparison for many payment technology enthusiasts. What is the story behind this lull and what does it mean for the future of Fintech?