Technology

Members of the EMV Migration Forum are recommending a single common debit code for EMV transactions in the U.S. and plan to provide details later this summer for how the payments industry can implement it.

Intuit Inc. said Monday it has agreed to sell its online and mobile banking division in a $1 billion deal that doesn't include its payments technology for merchants.

Innovation to Commerce Inc., a cloud-based payments processor, will power prepaid card programs for DMS Banks & Trust Ltd., a Cayman Islands bank that provides offshore financial services.

California’s financial regulator has baffled observers by sending a cease-and-desist “warning letter” to the Bitcoin Foundation. Did the Golden State’s bureaucrats blindly send out letters to any organization it could find with the word “bitcoin” in its name?

Total System Services closed its $1.4 billion acquisition of NetSpend on July 1, in line with its previously disclosed schedule for closing.

The daily self-reported spending for consumers averaged $90 in June, unchanged from May and only a tick higher than March's $89. Unlike economic confidence, which has continued to edge higher since March, consumer spending essentially has remained flat, according to the results of Gallup Daily tracking interviews.

Card processor and merchant acquirer Clearent is working with Reward4Schools to help the Missouri-based community rewards provider reach a national audience.

Big banks are developing a system to make mobile wallets more secure by walling off customer account information from merchants and other third parties. Citigroup, U.S. Bancorp and other members of The Clearing House, an industry trade group, are jointly working on the technology. Their aim is to address some of the rampant data-security concerns surrounding digital payments. The system, dubbed Secure Cloud, essentially aims to provide a protective layer to customers who use the mobile…

Square Inc. has ended its gift card service, according to a report from Reuters, about half a year after launching the program.

Birch Coffee has used Square's mobile card reader for its delivery service for about two years, and was one of the first to switch to the new Square Market e-commerce site ahead its launch.