Technology

Simon Xie, an Alibaba Group Holding Ltd. co-founder and second-biggest shareholder of its finance affiliate that owns Alipay, may become a billionaire as the estimate for the value of the electronic-payment company rose.

Even if it pushes the bank past the October 2015 deadline for EMV-chip card adoption, BMO plans to stick with its magnetic-stripe cards until each one reaches its natural expiration date.

Between record low net interest margins on credit card portfolios, continued downward pressure on debit card interchange rates, industrial-grade fraudsters, and anemic consumer spending, the ability for banks to profit from their payments businesses has never been more challenging.

Payment technology company ACI Worldwide has completed its $205 million purchase of the security vendor Retail Decisions Plc (ReD).

The share of mortgage applications for refinance loans has hovered above 50% since the first week in May, but that doesn't mean the mortgage industry is in the midst of another refinance boom, or even a boomlet.

Square, which has been scrambling to add fee-based services to pad the revenue it gets from mobile payments, faces a formidable new challenge in Amazon's launch of a rival mobile card reader.

Planet Payment has partnered with Banco Espirito Santo do Oriente S.A. in Macau to provide UnionPay card acceptance to local merchants.

Web.com, a small-business Web design and marketing company, will promote MasterCard's Simplify Commerce platform in an expansion of the companies' e-commerce partnership.

Online payment provider paysafecard is offering its customers a plastic prepaid MasterCard card to extend the company's e-commerce offering into the physical retail world.

The fueling operations provider Gilbarco Veeder-Root is integrating VeriFone Systems Inc.'s payment technology, enabling EMV-chip card acceptance and media displays at gas pumps.