Technology

American Express will certainly suffer when its 16-year cobranding deal with Costco ends in 2016, but its executives will spend the next year building up the card brand's digital payment products to create enough opportunities to ease the company's short-term pain and guarantee its long-term health.

Top executives from Bank of America, U.S. Bancorp, American Express, Visa, MasterCard, Microsoft and Apple are expected to participate as part of a White House summit on cybersecurity issues in California on Friday.

This week's White House Summit on cybersecurity at Stanford University comes at a pivotal time for payment and security professionals, who have an opportunity to cooperate to fight Internet crime.

American Express Co., the biggest U.S. credit-card issuer by customer purchases, said its co-brand and merchant agreements with Costco Wholesale Corp. in U.S. stores will end next year.

ApplePie Capital, a new marketplace lender that specializes in lending to franchises, has officially opened for business.

As e-commerce continues to grow, so does the business potential for fraudsters. And many common security measures aren't enough to solve the problem.

Fraudsters have taken to crowdfunding sites and other consumer-driven marketplaces in a new scheme designed to mask their use of stolen card data.

PayPal and Apple are well positioned as the mobile wallet race shifts from pure payments to broader services such as marketing and aggregation, according to Forrester Research.

Mobile banking apps that allow consumers to proactively lock their debit cards, or limit their cards' use to specific scenarios, could shift the way banks manage fraud and even enable them to place some of the liability on the consumer.

Top executives from Bank of America, U.S. Bancorp, American Express, MasterCard, Microsoft and Apple are expected to participate as part of a White House summit on cybersecurity issues in California on Friday.