Technology

The good news is that EMV is very effective at preventing the use of counterfeit credit/debit cards at the point of sale (POS), commonly referred to as card-present (CP) fraud.

Card issuers, already fighting the threat of mobile wallet initiatives that draw funds directly from bank accounts, must now contend with a new partnership that makes carrier billing a more viable replacement for bank cards at the point of sale.

Munich-based payment company Wirecard AG will support the implementation and financial processes behind the launch of Orange Cash in Spain.

Wells Fargo and other banks are testing the use of mobile devices to authenticate consumers in the drive-through lane. The pilot, designed to expedite service and improve security, serves as the latest example of a growing trend: preordering banking services via digital devices.

Swatch Group AG will introduce a model that can make mobile payments around July or August, which will give Apple Inc.'s smartwatch more low-price competition.

While PayPal deals with Consumer Financial Protection Bureau probes related to its consumer credit products, one of the company's founders is forging ahead with a company he created to develop its own consumer credit service for e-commerce.

The Fintech Sandbox — an accelerator of sorts for startups — has attracted ten data providers and eight fintech startups in two months. But it's still missing what it needs most: bank members.

In theory, all parties benefit when consumers have their choice of payment options, but the deluge of new technologies has led issuers to respond in ways that could create lasting frustration for consumers and merchants.

Kwik Chek Food Stores' new technology for updating gas prices at the pump also pushes those price changes to motorists using its mobile payment app, a feature that gets customers engaged with the retailer long before they pull up to the pump.

The Weve joint venture is breaking up, with Telefonica O2 buying out the U.K. telcos that joined it four years ago in planning a country-wide mobile payment system.