Technology

The Middle East presents a rare opportunity for digital payment innovators to access a populous and high-spending region with good levels of connectivity, writes Tom MacDonald, financial and business services practice head for Global Growth Markets.

It's no surprise that London topped the chart of "Cashless Capitals" in a recent study, considering its status as a major fintech hub of the U.K. But this wasn't enough to make it the country's contactless capital.

Developers will struggle to create apps that can be used seamlessly across institutions unless banks can learn to share programming data in a consistent way.

The $3.4 billion deal to take Verifone private is more than just an effort to strengthen the company. It's also a signal of how much the market has changed from the days when Verifone found itself scrambling to combat a newcomer called Square.

For $29 a month, MoneyLion customers will receive a checking account with no minimum balance requirement and will have access to a large a network of ATMs, as well as low-interest personal loans and financial advice.

In seeking to solidify that potential, FIDO Alliance and the World Wide Web Consortium have created Web Authentication (WebAuthn), a new standard that allows approved FIDO Authentication methods to operate through browsers.

Upgrade's new product, unveiled Tuesday, is aimed at consumers who are expecting a big expense but may not need to borrow all the money at once. Unlike a home equity line of credit, the loan can be approved in minutes because there is no need for collateral or an appraisal process.

The card networks recently admitted what consumers have long suspected—card signatures have become worthless for authentication at the point of sale. But that's not the end of this story.

Tech-focused private equity firm Francisco Partners is leading a take-private deal of Verifone Systems Inc., a world leader in payment and commerce solutions.

The self-regulatory body says working with data aggregators increases risk of cyber fraud, unauthorized transactions and identity theft. But aggregators say other links in the information chain are more vulnerable.