Technology

JD.com Inc. agreed to sell its finance arm for 14.3 billion yuan ($2.1 billion) in cash while retaining a share of its future profits, part of a deal to spin off the fast-growing division and create a strong rival to billionaire Jack Ma’s Ant Financial.

The Canadian bank completed a months-long trial of technology developed by AlphaPoint, the tech startup said.

Fraudsters have a strong desire to take over a consumer's accounts or create new accounts to commit fraud by purchasing clothes or shoes to resell or initiate other crimes or chargebacks.

Banks have traditonally lagged behind in embracing innovation, though blockchain provides the opportunity to quickly ramp up digital services.

A broad range of industry players are panning an October proposal by bank regulators that would impose new cybersecurity requirements on big banks, arguing it will only slow them down.

While much of artificial intelligence technology is about automating tasks, it also holds the possibility of enhancing bankers' ability to serve customers.

Apps that allow consumers to order and pay in the same experience are infiltrating the restaurant industry, and Mastercard is arming itself for competition.

The acquisition of Cryptowatch is the most recent in a series of deals struck by Kraken in the last year.

A broad pilot to test contactless open-loop payments on Singapore's trains and buses will go live March 20, according to local mass-transit authorities and Mastercard, which is sponsoring the initiative.

Digital payments can make travel payments easier and boost financial services in emerging markets. In some cases, it's doing both.