Technology

Wells Fargo is joining other members of Early Warning's clearXchange network in providing real time person-to-person payments.

The major card networks are losing value along with the rest of the stock market in the wake of Britain's historic vote to leave the European Union, but Visa and MasterCard may not face the type of doom and gloom that others endure in the current shaky political and financial situation in the U.K.

While the most common early use case for Internet of Things involves a smart refrigerator detecting its owner is out of milk and then automatically debiting a bank account to order more, the technology opens a vast trove of data that can have a major impact for both cross-selling and risk.

Avoiding fraud committed by large-scale criminal organizations using stolen credit cards and botnets or proxy servers can be particularly difficult.

Visa has had a major sponsorship role at past summer Olympics, using the setting to test new technology. This type of "global lab experiment" lets the card brand view the four years between this major athletic event as a gauge for payments advancements.

The U.K.'s referendum vote to leave the European Union has thrown cold water on London's reputation as a friendly venue for innovation in payments and other industries.

Tradeshift has launched a payments and travel booking virtual assistant that uses voice recognition to manage ordering, payments and risk.

The sheer volume of data that collected by Internet-connected "things" — cars, homes, wearable devices, and yes, refrigerators — could help deepen banks' relationships with customers. But it also adds more avenues for security breaches and raises privacy concerns.

American Express is working with Facebook to explore different methods of customer engagement through the social media network’s Messenger app.

London has been a magnet for technology startups, buoyed by a favorable regulatory environment and proximity to many of the world's largest financial institutions.