Technology

Bank of America plans to issue chip-based debit cards to customers next month, signaling a resolution of the long-standing issues plaguing EMV debit card issuance in the U.S.

By hiring former American Express executive Dan Schulman to lead an independent PayPal, the company is betting that his expertise — bringing innovation to a well-established international payments company — can ensure PayPal's survival.

InComm will work with the Merchant Customer Exchange to support digital gift card and loyalty programs for retailers, while also expanding MCX's CurrentC mobile wallet to more locations.

American Express has named Neal Sample as president of its enterprise growth division.

EBay's planned spinoff of PayPal, announced today, is a necessary and inevitable response to the influx of disruption coming to the payments industry from unconventional sources. As companies like Amazon.com, Apple and Wal-Mart take a growing interest in the payments market, PayPal's status as a unit of a rival e-commerce company limited its role.

PayPal, the payments unit of eBay Inc., will be split off to form its own company under the leadership of new president Dan Schulman, eBay's board of directors announced Sept. 30.

We usually think of card fraud as hurting just the merchant who accepts the card, but when one merchant accepts payment from a stolen card it hurts other merchants.

Shopkick is being acquired by SK Planet (SKP), and aims to replicate success of its Seoul-based buyer, which serves three-quarters of South Korea's population of 50 million.

The data breach affecting 216 of Jimmy John's restaurant locations had, at its source, an increasingly common exploit: remote-access passwords.

Ukash is expanding its reach in Spain by working with Logista, giving the online cash payment provider a presence at nearly 13,000 more point of sale terminals in the country.