Technology

Not all transactions have the same need for speed, so the Federal Reserve Banks' financial services unit will start with a narrow focus as it evaluates the development of a faster payments infrastructure in the U.S.

WASHINGTON — Congress should revisit the $50 billion-asset test used to subject larger banks to enhanced regulations and allow supervisors to look beyond an institution's size to assess its riskiness, Comptroller of the Currency Thomas Curry said Monday.

Apple, Samsung, PayPal, Square, Google Wallet among others along with countless financial institutions and retailers are fiercely marketing their applications to enable mobile payments.

Ingenico Group is leveraging its experience in EMV-chip terminal upgrades and new momentum from Apple Pay to better position itself for the U.S. conversion to smart-card technology.

Jimmy John's, a sandwich-shop chain based in Champaign, Illinois, said a hacker infiltrated payment systems at about 216 of its locations and stole credit- and debit-card information.

Spire Payments will supply Indian Overseas Bank with more than 7,500 mobile point of sale devices in its mPOS deployment in the Chennai region of India.

Wal-Mart Stores Inc.'s deal to distribute Green Dot Corp.'s mobile checking account, GoBank, signals a fundamental change in how both companies approach their audience.

Visa Inc. is planning to hire 2,000 employees to strengthen its technology strategy.

Fifty-two percent of millennial respondents in a Zogby Analytics survey sponsored by Mitek Systems, a mobile imaging tech provider, perceive native apps as a safer solution than mobile websites for purchasing and banking.

Fifth Third Bancorp has combined several business divisions into a new unit focused on payments, as the Cincinnati company continues its gradual exit from its former payments unit, Vantiv.