Technology

Apple's Near Field Communication-based wallet was not universally welcomed by banks and merchants, but the in-app Apple Pay system is steadily gaining momentum as more retailers see it as a way to latch onto Apple's cachet without overhauling their point of sale.

SAS has launched a new solution designed to allow banks to rapidly test anti-money laundering scenarios, the business analytics software and services provider announced March 16.

The Consumer Financial Protection Bureau announced Tuesday that it's seeking public comment ahead of a second study on the credit card market that could pave the way for new regulations or enforcement actions.

Facebook's Messenger app will soon let users send funds to one another, and the social network's use of payments to drive advertising and other business services is unlikely to stop there.

The megabank-led clearXchange digital payment network, which now counts U.S. Bank as a participant, plans to use its considerable reach in the coming year to diversify its capabilities while also pushing for collaboration among other providers.

Purchase, N.Y.-based MasterCard is working with Sao Paulo, Brazil-based Itau Unibanco in establishing and operating an electronic payments network in the South American country.

Alibaba Group Holding Ltd.'s finance arm, which owns Alipay, plans to use a partnership structure to allow top management to maintain control of the company's board after an initial public offering, according to people familiar with the matter.

Of the many smartwatch apps teased during last week's Apple Watch reveal, only one came from a bank: Citigroup.

As payment providers shift more of their operations online, they may still find a need for spoken communication with their clients — even when those clients also sell exclusively online.

Apple gets it. The way to make things appealing is to make them simple, convenient and valuable for consumers.