The Federal Reserve has signaled the need for congressional authorization if the central bank moves ahead with creating a digital currency. But senators raised questions at a hearing about whether it would help consumers, how it would complement private-sector banking and other issues.

Apple will allow some iPhone users to scan their driver's license and protect it with the same security used for payment cards in Apple Pay.

Emory Healthcare of Atlanta is using RevSpring's platform, which allows patients to key in card data that is shielded from customer service representatives.

Square Inc. Chief Executive Jack Dorsey said the digital payments company is considering building a Bitcoin hardware wallet, a device that holds the digital currency but isn’t connected to the internet.

From China to the Bahamas, central banks are rushing to create digital currencies that could be used for everything from attending the Olympics to helping the unbanked. Here are some notable initiatives.

Nearly 90% of central banks are considering or deploying digital currencies to speed transactions and reach underserved communities. But the larger the economy, the more difficult these projects are to implement.

The EMV specifications technology body has revised its requirements to ensure a consistent payment experience for cards, smartphones and wearables.

Users of the Goldman Sachs-issued card found themselves unable to make payments or view account details.

When people stopped using Wag's core business during the pandemic, the company added multiple technologies to allow it to sell pet food, offer digital training and provide other services. Those same upgrades will stay in place as former clients come back.

The technology giant is looking for a negotiator with experience in buy now/pay later, faster payments and cryptocurrency.

The companies are working to thwart abuse on the Honey platform, a deal-finding system that PayPal acquired in 2019.

As stores that went online-only start to reopen their physical locations, JPMorgan Chase is looking to bolster its position among European merchants by adding software from ACI Worldwide that's designed to support payments across multiple channels.

The fintech, which is reportedly building a checking and savings account into its app, is using its banking charter to speed the development of new services as it races its rivals to deliver an all-in-one app.

The small merchants that migrated to digital during the pandemic focused heavily on web sales, with less emphasis on e-wallets for mobile.

Apple's Chief Executive Officer Tim Cook said it would be “terrible” for iPhone and iPad users if a judge ordered the company to allow third-party app marketplaces, in addition to its own App Store, as Epic Games is demanding in a high-stakes antitrust battle.

Fake fundraising or phony customer service tricks people into handing over money or account details, Yinglian Xie of Datavisor writes.

So far, mostly larger businesses are embracing digital payments, says Avidxchange's Cameron White.

It is time for banks to figure out their role in the future financial ecosystem to avoid becoming a casualty of the creative destruction process.

How digital capabilities are supporting small business operations amid disruption

Regulators must urgently usher the unbanked or underbanked individuals into the wider financial ecosystem as they continue to craft open banking rules, says FISPAN's Clayton Weir.