Technology

Banks and other traditional payment companies need to keep an open mind when assessing the market today as new entrants build systems to disrupt the old models, said Christine Cumming, first vice president of the Federal Reserve Bank of New York.

Square is adding global support for its Register merchant services app, a move that allows the company to measure demand in new markets before investing in the distribution of its hardware and other services.

Alternative lender FastPay, which specializes in lending to digital media startups, received $15 million from newly formed Oak HC/FT, a $500 million growth-equity fund that invests in health care and financial technology.

U.K.-based terminal maker Spire Payments has purchased the electronic funds transfer division of STS, a company that provides point of sale payment devices to more than 40 customers across the Middle East.

An estimated 30% of American smartphone owners will use Apple Pay or Google Wallet while holiday shopping, according to a study commissioned by Stratos Inc.

Mobile payments provider iZettle is expanding into the Netherlands with its payments application, mobile card reader and business management software.

PayStand has established flat rates for online payments through electronic checks, saying its new format will allow non-profit organizations and service businesses to avoid credit card fees.

PayPal's support of the Pebble smartwatch, an older and less expensive alternative to the Apple Watch and Android Wear watches, signals the acceleration of mobile payments in devices other than smartphones.

Discover Financial Services will take a $178 million charge in the fourth quarter to make changes to its cashback rewards program.

Biometric authentication may seem all the rage now that Apple uses fingerprint authentication in its mobile wallet, but the Bitcoin ATM provider RoboCoin has concluded that biometric technology can be more of a hassle than a help.