Technology

Alibaba Group Holding Ltd.’s finance affiliate has completed a record $4.5 billion equity fundraising round, according to two people familiar with the matter.

Nearly half of bank data security incidents in 2015 involved compromised web applications, according to a closely watched annual report from Verizon released Tuesday.

When you make a payment on a website using a HTTPS connection, Transport Layer Security (TLS) encryption is what makes your payment transfer over the public internet secure. Unfortunately, it's riddled with security flaws.

China's sheer size is an obvious attraction for companies involved in global payments and commerce, but the country poses hurdles that even giants like MasterCard and Visa find vexing.

Cutting-edge jobs — think chief innovation, strategy and data officers — are on the rise at banks and other lenders, and they are drawing free-thinking, tech-savvy candidates from inside and outside of financial services. American Banker asked several of them to recommend a book or other piece of writing that helped them tackle jobs that often were created from scratch.

Hypur, a startup seeking to help banks serve businesses deemed high compliance risks (e.g. marijuana), has recruited a former Department of Justice lawyer to help build credibility. Its signature product: a payments platform to replace cash transactions.

Multi-factor authentication will be required for administrative access to card data and systems for Payment Card Industry data security compliance this week.

JPMorgan Chase has added fingerprint authentication for customers on Android devices.

U.S. Bancorp said Friday that it has agreed to sell its majority stake in a Brazilian technology division of its Elavon payments processing subsidiary.

First Data Corp., the payments processor that went public last year, halved its losses in the first quarter as revenue increased.