Technology

As with any new technology, mobile wallets must earn the trust of the consumers and merchants who would use them. Many mobile payment apps may attempt to beef up security with password and PIN protection, but a few have had their security scrutinized very publicly.

It's not the first time Apple has sought a patent for payments technology on its iPhones, but an application published Jan. 16 is perhaps the most specific.

Danish payments manager Pensio and London-based fraud prevention provider ReD have partnered to offer a fraud screening service to Pensio's merchant clients.

Total System Services has developed a product that allows consumers to control their card accounts from smartphones or computers.

Starbucks has released an update to its mobile app that's designed to enhance security following reports of vulnerabilities related to how its app stores passwords.

Ingenico's Roam has added staff management functions to its mobile point of sale technology as the company pursues a broader range of businesses.

American Express has escaped serious harm from the recent and massive Target data breach, CFO Jeff Campbell told investors.

If the recent holiday shopping season is any indication, consumers may be setting aside their caution with credit card spending and are back to consuming through debt.

Starbucks is reportedly storing mobile app users' passwords in a manner that makes them accessible to a hacker with access to a user's phone, creating potential security risks that could erode consumer confidence in mobile payments.

Retailers are being inventive in their use of prepaid cards and mobile wallets to improve their store loyalty programs. Many are learning to use payments technology in ways that may change the way banks view their partnerships with merchants.