Merchant

Global Payments Inc. has finalized an agreement to distribute Mobeewave’s contactless mobile card acceptance technology to its Canadian clients beginning this spring.

Starbucks has integrated its mobile pre-ordering and payment feature into its Android app in the U.K.

For years, the financial services industry has relied on tactics such as education campaigns, sales pitches and financial penalties to get merchants to upgrade their technology. Ironically, the bad security that led to Target's 2013 data breach may have been the strongest way to deliver this message.

Elevate Credit, an online lender, has temporarily delayed an initial public stock offering because of difficult market conditions. The firm was set to price its initial public stock offering Thursday.

Opus Bank in Irvine, Calif., is the latest bank to partner with an online lender, announcing an agreement Thursday to refer certain small-business customers to OnDeck Capital.

House Financial Services Committee Chairman Jeb Hensarling is trying to stop $80 million in payments given to borrowers as part of a controversial auto loan discrimination settlement with Ally Financial until regulators verify the checks were actually given to minorities.

Financial institutions, at one time the central facilitators of payments, find themselves in a rapidly changing payment environment today and confronted by all the various competitive digital payment and money movement offerings that are available in the market and directed at their account holders.

Debt-buying giant PRA Group Inc.'s stock fell Wednesday to a 52-week low. After opening at $27.60, PRA Group dropped to $26.75. By the closing bell, the company's stock was at $27.72 a share for a loss of 0.89%.

Union Bank & Trust Co. in Nebraska was an early supporter of Apple Pay. With that platform sputtering, the bank is now looking at additional ways to stay ahead of the mobile-wallet curve.

It may seem odd for a vendor of payment acceptance hardware to discredit EMV security, which is commonly seen as a catalyst for hardware sales, but that's exactly what MagTek is doing.