Technology

The Federal Reserve Board says it followed a proper system for establishing debit interchange caps and fully abided by the Durbin Amendment's requirement for merchants to have two unaffiliated networks to choose from for routing debit transactions.

American Airlines and US Airways have argued that the combined airline will be good for "competition, consumers and choice." But just days before the merger's closing, changes that the airlines have made to a popular credit card reward may end up having the opposite effect.

The Fed's vision of a vastly improved payments system within 10 years is getting a chilly reception from a group representing the nation's largest banks.

China's central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country.

Billing outsourcer BillTrust has developed new invoice technology that uses streamlined processing and dispute resolution to boost businesses payments automation, a segment that has traditionally lagged consumer payments in reducing paper processing.

Clinkle, the payments startup that's generated financial backing from Silicon Valley investors and rampant speculation about its technology model, has hired a pair of Web technology veterans as it ramps up for a launch next year.

Several Canadian banks have taken on the challenge of managing and protecting their customers' usernames and passwords across banking and government sites. U.S. banks are invited to join a similar pilot starting in the U.S.

While Bitcoin sometimes gets a bad rap with law enforcement officials, the police chief of Vicco, Ky. will begin getting his salary in the digital currency.

Airtag has added PayPal as a payment option for consumers using the KFC Fast Track mobile wallet to order and purchase food in advance at the fast food chain's U.K. restaurants.

CO-OP Financial Services is upgrading its Sprig digital wallet to allow broader person-to-person payments, and is also adding mobile credit and debit card control and alert features.