Merchant

The third party wallets, or the “pays” as they are called, are failing to make a splash. Mobile wallets which let you pay any merchant from your smartphone are simply not a reality today.

Financial services technology provider Jack Henry & Associates Inc. is the latest company to collaborate with The Clearing House to speed processing, a move that will substantially increase the number of banks capable of executing faster payments.

The tax agency's struggle to protect sensitive data mirrors banks' own, and its shortcomings can also be found at financial institutions.

The CFPB revealed Tuesday that exams of banks and nonbanks resulted in the remediation of $14.3 million to roughly 228,000 consumers. Debt collection and credit reporting violations were frequently cited as troublesome.

The CFPB's announcement Monday that it's accepting complaints about marketplace lenders is a sure of a move toward regulating the burgeoning industry. It comes as marketplace lenders also grapple with an uptick in delinquent loans and a decline in returns for loan buyers.

The uninsured rate in the U.S. has reached a record low from 2010, when the Affordable Care Act took effect, according to the U.S. Department of Health and Human Services.

In expanding Visa Token Service, the card brand is requiring issuers to stop using alternate personal account numbers in cloud-based mobile payments and instead converting to tokenization.

Financial technology and marketing provider Kasasa has launched a Credit Card As A Qualifier option for its community financial institution customers.

Outstanding consumer credit, a measure of non-real estate debt, rose by a seasonally adjusted $10.5 billion in January from a month earlier, the Federal Reserve reports.

The promise of unlocking some of the "big data" within payments is coming nearer, with new technology expanding the way consumer purchase data is used to shape marketing campaigns.