Technology

Apple Pay represents a new cost to the issuing community. The issuers accept this because there is little choice but to operate on Apple's terms, including paying a fee to support Apple Pay.

Now that the Apple Watch has arrived, banks and technology companies are making a big effort on the wearable's small screen. Some are focused on alerts and budgeting; others take advantage of the device's unique hardware.

The ubiquitous coffee chain is making new inroads with its mobile payments app, and its success underscores how nonbanks can outdo banks at their own game and should be watched closely by banking industry participants.

To address integration concerns for retailers, Bindo is connecting its iPad-based point of sale software to Powa Technologies' hardware for clients in the U.S. and Asia.

Millions of dollars spent on software upgrades are worth the hit to short-term profits, executives at the Buffalo bank said, because it will be able to run deeper credit profiles of borrowers.

As horrifying cyberattack scenarios grow more plausible, an American Bankers Association simulation of a hypothetical breach at a $10 billion-asset bank is designed to guide institutions through a set of crisis response steps.

The Apple Watch officially goes on sale today, bringing Apple Pay to the wrists of many consumers, but the device's competitors — a large number of increasingly sophisticated and far less expensive wearables — are also attracting the attention of Apple Pay issuers.

The Starbucks mobile app is now used for eight million transactions per week, or 19% of the company's U.S. sales, but the biggest development is not in the numbers but the nature of the app's users.

House lawmakers approved two bills this week to foster greater information sharing between the private sector and government about cyber threats — and all eyes now turn to the Senate to see if legislation can finally be enacted.

Citigroup and AT&T have unveiled a new credit card that offers a credit for a new smartphone, potentially boosting adoption of Citi Wallet.