Technology

As payment technology pushes into the future, innovators are coming up with unexpected ways to pay. Whether this means attaching technology to animals or sewing it into our clothing, many of these products are a leap beyond the ordinary payment card.

Underwriters Laboratories has been testing physical products for safety for more than 100 years, and the company has joined the payments industry at an opportune time.

Zumigo, a provider of location-based mobile services, has raised $6 million in a Series B funding round.

First Data has a number of payments initiatives planned for the next year in Brazil, where the mix of mobile and card adoption suggests big potential for electronic card payments.

London-based Currency Cloud plans to expand its payment offerings to the U.S. to serve businesses that are having a hard time adding automated cross-border transactions to their workflows.

EBay Inc.'s stock price rose as much as 6.8 percent today after The Information reported the company could spin off its payment unit as soon as next year.

By adding data analytics to its Square Register platform, Square Inc. says it is giving merchants of all sizes the kind of tools that larger retailers use to increase sales.

PayPal has released an upgraded app for Microsoft's Windows Phone operating system, adding several features already available on iOS and Android devices.

United Parcel Service Inc. said a breach of computer security at some of its UPS Store retail outlets may have exposed customers’ personal and payment data this year.

Evolution is occurring rapidly in mobile payments. While the innovation headlines are being made by the digital innovators and new industry entrants, banks still have a window of opportunity to take strategic advantage and preserve their traditional payments franchise.