Technology

Citigroup Inc. is in final talks to sell its Japanese credit-card unit to Sumitomo Mitsui Trust Holdings Inc. for at least 40 billion yen ($335 million), people familiar with the matter said.

Innovation is not a competition. If both incumbents and startups in the fintech market would just accept that, mobile wallets and broader payments applications would have already been realized, according to Jonathan Vaux, executive director of Visa Europe.

Waffle House is proudly behind the curve—its wait staff verbally calls in cook-to-order meals, it didn't take credit cards until 2006, and it has long used old-fashioned cash registers.

The launch of Apple Pay late last year was bound to shake up the crowded and fragmented mobile payments market. Banks now face more pressure to make the right plays in this space or else lose their customers.

A long-awaited bill to enhance cybersecurity information sharing has taken a major step forward.

CardFlight has released a new reader for its SwipeSimple mobile point of sale offering to accept EMV-chip cards.

Throughout the U.S., many companies are still not covering the essentials when protecting their systems, but the enemy is getting increasingly sophisticated and relentless, Visa's risk chief said.

PayStand is launching a new mobile payment app and card reader to accept credit card payments, but promises to cut merchants' costs by also accepting e-checks and Bitcoin.

Phone-order fraud is expected to spike in the same manner as any other card-not-present fraud as a result of the U.S. migration to EMV chip-based cards at the point of sale.

Lending analytics firm Orchard Platform has cut a deal with alternative small-business lender Kabbage to allow institutions to invest in the latter's relatively new line of consumer loans.