Technology

The real mobile revolution in opportunity for small business payments is occurring not in consumer wallets, but on the other side of the counter, with disruption in the point of sale terminal market.

The several wearable computing rings being developed have been well-received, but the small devices could have hardware limitations that keep them from widespread use as a payments tool.

MasterCard will enable cardholders at Commonwealth Bank of Australia to load and store payment account credentials on some Samsung handsets, starting with the Galaxy S4.

Square has purchased Evenly, a company that provides services for person-to-person payments. The move heightens Square's competition with PayPal and bolsters its own Square Cash product.

A new company has formed to tackle the pressing issue of routing EMV debit transactions in compliance with federal mandates, a task the payments industry has undertaken for nearly two years.

MasterCard Inc. said its board of directors approved an 83 percent dividend increase and a 10-for-1 stock split.

Global Payments and mobile operator 1O1O have launched a mobile point of sale service in Hong Kong.

PayPal has invested in Loop Commerce, which offers a software-based gifting service for retailers.

Payments servicing provider Nortridge is integrating with PayNearMe's electronic cash transaction network to enable borrowers to make payments at 7-Eleven and ACE Cash Express stores, thus reducing the risk lenders would face in in accepting cash payments at their own locations.

Mobile wallet providers such as PayPal, Google and LevelUp already allow consumers to add funds by scanning a credit or debit card with a smartphone's camera. Banks can use similar technology to allow customers to open and fund new accounts from a mobile phone.