Technology

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.

Square's updated mobile card reader adds a lot of new technology, but its omissions speak volumes about the company's strategy.

DB Networks has joined the Payment Card Industry (PCI) Security Standards Council.

State financial regulators have received few applications for licensing Bitcoin businesses even as they've handled many inquiries about them, according to David Cotney, the commissioner of banks in Massachusetts.