Technology

As Fexco and First Data demonstrated an ATM this week that lets consumers use a mobile phone instead of a card for access, they emphasized that the bank is at the heart of the offering — everything about the technology could be changed to the bank's whim.

Revel Systems has integrated its iPad-based point of sale system with the Adyen Shuttle mobile card reader to provide more European merchants with an option for reading EMV-chip cards.

Mobile payments company Clinkle has hired Barry McCarthy to be its chief operating officer.

Irish financial services group Fexco and BNP Paribas are acquiring Flashiz, a two-year old Luxembourg-based mobile payment company.

The alternative payment provider Dwolla has launched a credit-based instant payments capability, built on partnerships with banks and credit unions.

The coveted "Millennial" generation of consumers ages 18 to 34 is central to the success of any new payments technology – but this group also has a wide range of financial goals that make it hard to target with a one-size-fits-all product.

Just as Square invented a plug-in device to bypass the gatekeepers of the payments industry, banks may be able to turn the tables with a plug-in device designed to bypass the gatekeepers of the mobile industry.

Visa and MasterCard have aggressively worked to establish their V.me and MasterPass wallets since launching both products within the past year, and both companies are trying to learn from their past efforts in e-payments.

OnBudget seeks to build customer retention of daily expense prepaid cards by incorporating personal financial management tools that digitize the "envelope budgeting system" popular among consumers.

Although its third quarter net income dropped 7% year-over-year, Discover Financial Services remains confident in the opportunities it has invested in for the future.