Technology

The days of the add-on mobile card reader may be numbered, as recent developments around software-based approaches gain strong momentum.

After a long absence, Bank of America Corp. is bringing its U.S. consumer credit card portfolio back to the processor Total System Services Inc.

Google's decision to add Google Wallet to its new Nexus 7 tablet could break the limitations its mobile payment system has faced in reaching consumers. 

PayPal's decision to buy its mobile-pay tech partner Card.io sheds light on how the smaller company's technology is shaping the world of mobile payments.

M-Via, which offers a mobile checking account called Boom, said July 18 that it closed a $17 million financing round led by Digicel Group Ltd. M-Via is also changing its name to Boom Financial.

The Durbin amendment in Dodd-Frank eliminated debit-network exclusivity, prompting heightened competition among the electronic funds transfer networks.The NYCE network, which is owned by FIS, already has benefited.

Shopkick's mobile rewards system has relied so far on small devices retailers install at their doors to signal to an app that a customer has visited in person. But for a giant like Macy's, those little devices can add up to a big headache.

PayPal announced July 17 that it has acquired financial technology start-up Card.io.

Declining check volumes slowed second quarter revenue growth for the Payment Solutions unit at Fidelity National Information Systems Inc., or FIS.

Inaccurate data that finds its way into the global banking payment process creates "hidden costs" of hundreds of thousands of dollars for banks, corporations or large retail businesses.