Technology

Apple Pay's launch was seen as so bank-focused that some retailers griped or outright rebelled against the Apple mobile wallet. But today, Apple made a major peace offering to the merchant community — and it's working with Square to make that happen.

U.S.-based payment processor Total System Services (TSYS) has launched a service called Chip Card on Demand that provides issuers the option to add EMV chips to compatible magstripe cards during the production process.

IHL, which tracks retail payment trends, has slammed EMV in a recent report, calling it "a colossal waste of time, effort and capital to the retail industry."

There have been various media reports about some of the security shortcomings within Apple Pay. The shortcomings are not security holes per se, in the sense that a hole is generally unintended. No, the security issues were deliberate, done with the goal of making signups and initial usage as easy as possible for shoppers.

Investment in London fintech firms is soaring and young companies are being drawn to the area, especially the Canary Wharf district, thanks to the efforts of incubator Level39, a vibrant social scene, and close proximity to large banks.

Buyout firm Abraaj Group is working with Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase Inc. as it plans an initial public offering of its stake in a credit-card processing business, according to people with knowledge of the matter.

Commerce Bancshares in Kansas City, Mo., has established relationships with several new organizations, including environmental groups and universities, to offer co-branded credit cards.

The traditional cash register is making way for new technology based on tablets, smartphones and other, sleeker devices. These products open up a range of new capabilities for the retailer and the consumer.

After hearing that his friend organized an adult hockey team and ended up losing about $3,000 each year that he fronted for ice time because he never got paid back by others, Ian Andrew Bell came up with the idea for RosterBot.

At the Wayfair network of retail brands, more people are using its mobile commerce apps, but only a smaller percentage are on board with using those apps to make purchases.