Technology

Banks would have to upgrade their systems to accommodate faster transactions, and originating banks would pay the receiving financial institutions a fee to cover those costs, under a plan from Nacha, the industry group that sets ACH rules.

Payfone has spent the past five years partnering with the U.S. phone companies to connect 300 million people to its identity system. The company now hopes banks will want to tap into that database for authentication purposes.

New York’s Department of Financial Services (NY DFS) has recently issued guidance on its BitLicense proposal, which would create a transitional license for Bitcoin.

MasterCard is investing in and partnering with card technology company Dynamics to embed greater function into U.S. payment cards, a mission that has sputtered in past years.

Despite the many high-profile breaches that occurred over the past year, too many businesses have not adopted strong security practices and as many as a third don't have a clear understanding of where their sensitive data is stored or how it is protected.

The Aschheim, Germany-based payments company will process subscriptions for the TV station's Sky Starter and Sky Film packages.

Mobile payment share for Alipay, the payment affiliate of Alibaba, rose to 54% of payments in the first ten months of 2014 from 22% all last year.

Following the disclosure by a name brand retailer that their point-of-sale (POS) system had been breached, shoppers outside one of the retailer’s brick and mortar locations unanimously told a television reporter that cash was the safest way to pay in-person.

Visa and Kofax are attempting to simplify complex invoice payments in Asia by introducing technology into processes that have long been handled manually.

A Canadian startup, Koho, is poised to begin testing a mobile financial product that helps customers manage spending — think card controls that prevent late-night withdrawals to fund one round of tequila too many.