Technology

"Big data" has been all the rage in the payments industry in recent years. While the hype seems to have subsided a bit, that might be because the most dedicated data-using merchants have put their heads down to focus on sifting through the data to investigate fraud.

Beacons—those little Bluetooth mechanisms stores use to beam ads to shoppers' phones—may someday play a critical role in payments. But the technology is still years away from being a practical alternative to cards and NFC-based mobile wallets.

Rumors of an alliance between China's e-commerce powerhouse Alibaba and Cupertino, Calif.-based technology giant Apple are heating up again — and are coming from a very high-placed source.

Federal and state regulators said that mobile telephone carriers Verizon Wireless and Sprint have agreed to settle allegations that they bilked consumers out of millions by allowing third parties to "cram" unauthorized charges onto their customers' bills.

Voice biometrics, fingerprint recognition, device ID and behavioral analytics are at long last becoming accurate and convenient enough for prime time.

Square Inc. says it has received more funding for its Square Capital program, which grants loans to Square merchants based on their transaction history.

Card networks have built their legacy on transporting payments and consumer data, and over time the data itself has become far more complex.

For many industries, the introduction of open standards has been a key driver for innovation. The rapid evolution of the internet and online services offer a vivid example of the degree to which open standards can enable immense innovation and growth.

A new series of reports from analytics and consulting firm Accenture found that nearly 90% of the 450 financial firms surveyed plan on increasing their spending in risk management related to cybersecurity and fraud detection and prevention.

A group of small banks and credit unions could not persuade a judge to block the settlement Target and MasterCard reached last month that would reimburse banks on the card network $19 million for losses related to the retailer's breach.