Technology

Australian supermarket Coles is launching a tap-and-go mobile wallet to customers this week.

First Data's sale of $3.5 billion of its common equity in the private placement market closed on Friday, July 11.

Twenty years ago, the decentralized open architecture of the Internet was inspiring entrepreneurs worldwide to build products and services while skeptics rolled their eyes and wondered why anyone would want to use this slow, rudimentary, obscure technology. Jeremy Allaire, a veteran of the early Web days and now the CEO of startup Circle Internet Financial, sees parallels between that era and the current state of digital money.

Many banks' legacy systems were built decades ago and are maintained by folks nearing retirement. The challenge for CIOs is finding talented young recruits who are as well-versed in old technologies as they are new ones.

Wells Fargo's process of establishing new cross-border remittance corridors creates a vital network effect, helping the bank withstand the country-specific problems that are driving rivals out of the business.

ProPay, a subsidiary of the processor Total System Services (TSYS), is working with ThreatMetrix to offer fraud prevention technology to its customers.

Apple has launched an automated account loading feature in Japan, a product that eliminates the need for plastic gift cards and may signal the beginnings of a pure digital wallet.

Banks that want to stay ahead of the digital curve should consider hub-and-spoke branch models, products that blend digital and physical services and innovation labs that allow creative thinkers to experiment — and even to fail.

First Data Corp. has added technology from Perka, its customer loyalty subsidiary, to its Clover Station point of sale tablets. This is the latest of several updates First Data has made to boost the appeal of its Clover offering.

Security breaches exposing consumers' personal information are becoming larger and more frequent in New York, costing businesses more than $1.37 billion last year, the state attorney general's office said.