Technology

A number of large retailers are pushing back against Apple Pay, making clear the power merchants wield in the developing mobile payments market.

Bank of America revealed its technology limitations to entrepreneurs at a company event in Silicon Valley, hoping some of the startups could provide assistance in areas like workflow and analytics.

InComm is adding add over 15,000 locations to its Vanilla Reload network, which allows prepaid card users to reload their general-purpose reloadable card accounts by swiping the card at the point of sale.

Walmart and Best Buy were up-front about their disinterest in Apple Pay; CVS and Rite Aid followed after the fact. Reportedly, these Merchant Customer Exchange participants are placing their bets on the group's upcoming CurrentC wallet, but there's another reason they may want to distance themselves from Apple Pay.

Apple Inc.'s bid to replace the consumer wallet with its mobile payment system ran into a roadblock as CVS Health Corp. and Rite Aid Corp. disabled the technology in their drugstores.

Visa, MasterCard, American Express and Discover have placed a timeline for U.S. EMV adoption, in the form of liability shifts, which has elevated chip card migration from conceptual to imminent.

With the EMV migration in the U.S. in full swing, fraud is making its own migration to card-not-present (CNP) transactions, and one way to thwart the fraudsters is a digitized card security code—provided the technology can be produced for a mass audience.

Apple Pay has launched to considerable buzz, but the technology giant has done little to communicate where its new mobile wallet can be used, leaving its partners to fill the void.

PayPal has launched a Canadian version of PassPort, a website designed to help small merchants sell globally.

Apple Pay's launch coincided with the start of SourceMedia's PayThink conference in Phoenix, where executives from many banks and other financial companies provided their impressions of Apple's new mobile wallet.