Technology

Six of the world's biggest banks will pay $5.8 billion and five of them agreed to plead guilty to charges tied to a currency-rigging probe as they seek to wind down almost half a decade of enforcement actions.

Let Target's settlement with MasterCard over the retailer's massive data breach serve as a reminder of the need for all participants in the payments system to play by the same set of rules.

Banks' technology investments are helpful but fail to ease customer concerns about the security of personal data, hidden fees and other problems, a new survey shows.

The U.S. financial system has weathered several external threats in the past year, but significant hazards remain, including the potential for cyberattacks and excessive concentration of risk in central counterparties, according to a report by the Financial Stability Oversight Council.

Bitcoin startup 21 Inc. has revealed its plans to create a mining chip called a BitShare that would be embeddable into Internet-connected devices to continuously mine bitcoins.

Mobile devices have the potential to improve security through the use of tokenization, biometrics and account controls. But some companies have encountered recurring issues with the transition to mobile payments, and others may overlook beneficial security technologies to reduce friction.

If Verifone wants to benefit from the major card brands' efforts to operate in China, it must confront a virtual army of independent sales organizations already selling low-cost payment terminals.

Payments startup iZettle AB, a Swedish rival to Jack Dorsey's Square Inc., will start selling a credit-card reader that lets shoppers pay by tapping the device with a smartphone or bank card.

In the payments industry, the common practice is to equate mobile merchants with micro merchants, and to put them on a back burner for things like EMV upgrades.

Each time Elavon, a payments-processing unit of U.S. Bancorp, launches a new product, its R&D lab steals a page from rock 'n' roll history to mark the occasion.