Technology

The CFPB's recent freeze on collecting any personally identifiable information from companies it supervises is slowing investigations and could ultimately cripple the agency's enforcement function — and that may be the point.

As new cryptocurrencies swarm the market, retailers have to be disciplined in which they accept — if any.

The long-rumored U.S. launch of LG Pay looks finally set to happen.

It's been a little more than three years since Apple Pay made its debut. Today it is joined by Samsung Pay and Android Pay/Google Pay—along with several proprietary concepts from major banks and merchants. But despite millions spent on promotions and marketing for the various concepts, mobile payments volume is still weak.

While the intermediaries that record and verify transactions such as payments are removed, the remaining parties may not be ready for shifting responsibilities to guarantee transactions, writes Sebastian Venderzeil, a director at Cornerstone.

Petal has received a $13 million funding round from Valar Ventures, a New York-based venture capital fund that specializes in financial technology, to use artificial intelligence to fill holes in legacy risk vetting.

The central bank is beginning to consider the possibility of a “digital dollar,” which will foster more efficient and transparent payments.

The two senators are set to introduce a bill that would force such firms to pay $100 per customer whose personal information was compromised.

Examiners focus too much on how many suspicious activity reports banks file and too little on the true riskiness of their activities, according to lawmakers and industry representatives.

A reverse auction service for restaurants is trying to ease the industry's costs through a decentralized payments system.