Technology

WASHINGTON – In theory at least, JPMorgan Chase's tentative $13 billion settlement with federal regulators is a devastating blow for the bank, costing it roughly half of last year's profit and once again portraying the institution as the poster child for bad bank behavior.

AccessPay has signed an agreement with Swift to incorporate Swift connectivity into AccessPay's cloud-based corporate payments hub and cash management platform.

Visa Europe's Steve Chambers is joining Monitise's board as a non-executive director.

MasterCard has developed technology designed to provide greater control over corporate travel accounts.

Consumers are increasingly jumping form one channel to another when shopping and paying, pressuring issuers and other payment companies to simultaneously accommodate older plastic-card models alongside the Web and mobile commerce.

There is a surge of activity in person-to-person payments, with the biggest banks going head-to-head with technology giant Google and other significant rivals.

American Express Co. is working with VeriFone Systems to allow consumers to redeem membership rewards to pay for rides in New York City taxis.

Square's new P2P service, Square Cash, is meant to be so straightforward that you don't need an app to use it — but Square published an app anyway. The Square Cash app joins a growing suite of Square apps for merchants and consumers.

Flint has released an Android version of its swipeless mobile card acceptance product, which relies on the smartphone's embedded camera to scan an image of a card to accept payments.

Wonga, a London-based provider of short-term loans, has purchased BillPay, a Berlin-based online payment and financing platform.