Technology

While often looked upon by preceding generations as commitment-phobic and "irresponsible job hoppers" laden with severe debt, millennials who receive fair wages tend to be loyal to their employers and committed to building savings and credit, according to the latest Credit Karma Millennial Report.

When surveyed, consumers will say security is far more important than convenience when making a payment — until they reach the checkout. Then convenience feels pretty good.

As the banks behind Early Warning's clearXchange network start to flex its muscles, one of their important tasks will be to convince business clients it's worth it to collect funds through a process designed for person-to-person payments.

Banks have mainly shied away from programs that invite hackers to scrutinize their applications. But PayPal, Western Union and others who have tried them say bug bounty programs are an effective way of making apps more secure.

Chief information security officers at banks say their top priority is keeping data of all kinds (customer, employee, credit, performance, you name it) safe from attacks. They answered candidly when we asked who or what the greatest risks are.

PayPal, Western Union and others who have paid hackers to scrutinize their applications say bug bounty programs are an effective way of making apps more secure.

American Express Co. plans to debut an online loan platform for small-business clients this year, targeting territory occupied by startups like Square Inc. and On Deck Capital Inc.

Rather than replace bankers with technologists, bankers must return to their original role in the community: help entrepreneurs succeed through connecting capital with good ideas.

Merchants are facing consumer lawsuits stemming from the introduction of EMV-chip card security at the point of sale in the U.S., exposing the issues many stores must contend with now that they are held liable for fraud and chargebacks.

As we approach the midpoint of 2016, two of the most pressing matters in the payments industry have become more acute—the push for greater transparency and accountability in merchant acquiring and processing.