Technology

Hundreds of Bank of America Corp. credit- and debit-card customers were mistakenly charged twice for purchases made using Apple Inc.’s new mobile-payment system, according to a person familiar with the matter.

PHOENIX – Even though Apple has more than 500 banks lined up to support Apple Pay, including heavyweights like Bank of America and JPMorgan Chase, some bank executives are taking a decidedly defensive stance.

Regional bank executives are tinkering with ways to accelerate loan growth yet avoid risks that would alarm regulators.

Transactions have long been free for consumers, but Ashe Pay is betting that consumers are willing to pay a $1 monthly fee to be part of a network that allows instant payments to vetted merchants.

MasterCard is determined to take its tokenization technology for Apple Pay and spread the security method to many other payment products, including the card brand's own MasterPass digital wallet.

Jumio Inc. has introduced BAM Checkout, putting together its identification and credit card scanning technology to streamline mobile payment acceptance.

PHOENIX – BBVA has had success in several markets with mobile wallets that blend Near Field Communication (NFC), loyalty and other technologies. But this week's launch of Apple Pay is challenging the bank to ensure its card app remains relevant.

MasterCard is partnering with Major League Baseball Advanced Media to bring contactless payment acceptance to ballpark food and beverage concessions at this year's World Series.

Banks are bound to confront knotty privacy questions as they strive to make smarter use of customer data and experiment with technologies like wireless beacons, geolocation and algorithm-recommended offers.

Google will enhance its verification system for accounts by supporting identity standards developed by FIDO (Fast Identity Online), an industry alliance that aims to increase operability between authentication technology systems.