Apple Inc. will reap fees from banks when consumers use an iPhone in place of credit and debit cards for purchases, a deal that gives the handset maker a cut of the growing market for mobile payments, according to three people with knowledge of the arrangement.

Cubic Transportation Systems is working on technology that will allow people to pay for bus and subway rides without stopping to swipe or tap a card.

Apple is betting that tokenization systems offered by payment processors will provide a security boost to its new Apple Pay system at a time when consumers are wary of Apple's cloud-based services.

Apple has officially unveiled Apple Pay, a new mobile payment system in its upcoming line of smartphones and its smartwatch, using a model that involves legacy payment companies but adds a new spin.

A top executive at American Express acknowledged that the firm's efforts to persuade consumers to pay with their mobile phones have so far been a failure.

Apple's expected reveal of a payments-capable iPhone may bring with it changes in how other mobile wallet providers handle payments.

Twitter's long-awaited "Buy" button is live, allowing nearly 30 pilot merchants and nonprofits to accept payments from within Twitter's mobile app.

Chief Executive Officer Tim Cook is planning to unveil new iPhones, wearable devices and a mobile-payments system on Sept. 9, people with knowledge of the matter have said.

Gemalto NV is offering a network connection hub to provide banks, equipment manufacturers and mobile wallet providers with secure access to Near Field Communication hardware.

The app automates allowance payments and uses an optional debit card to promote financial literacy.

One of the first mobile payment applications in the U.K. has run its course.

The unveiling of the next iPhone is imminent, and with it Apple is expected to announce plans for a mobile payment system with the support of the major card networks, retailers and banks. But what, exactly, would go into such a system?

While student-only payment methods might cater to an audience with a high turnover rate, that audience is filled with early adopters that merchants want to attract.

PayStand's integration with e-commerce service provider WooCommerce is meant to enable multiple payment types with very little technology work.

With anticipation building for Apple's special event and what CEO Tim Cook will announce, it is a fun time to dig into the rumors and speculate about what could be coming to a pocket, wrist or desktop near you and, more importantly, what this may mean to the market ecosystems we all exist in today.

In addition to possibly revealing a mobile wallet next week, Apple is also expected to showcase its long-awaited smartwatch with Near Field Communication capabilities.

Merchant acquirers and processors are looking at a far different payments landscape in light of recent and anticipated developments from the Merchant Customer Exchange, Apple, Amazon.com and other companies.

PayPal has launched the PayPal Here software development kit (SDK), which enables merchants to sell in-store or remotely through iOS or Android devices.

PayPal is continuing to support Samsung's new phones and wearable products with features that make use of device-specific hardware such as the Note 4 smartphone's fingerprint reader.

Google Wallet users can now redeem and manage their gift cards through technology from the prepaid gift card provider Blackhawk Network.