Commuters in New York City may still use magnetic-stripe MetroCards to pay fares for five years to come, but transportation officials say they are considering some more modern options.

Payleven is launching a new chip and PIN card reader that's capable of accepting Near Field Communication contactless payments, with the aim of cutting costs for European merchants.

Global payments provider Payoneer will handle Google's "insurance" payments to consumers as part of the Google Trusted Stores program.

Wine may improve with age, but point of sale technology does not. Years ago, when ShopKeep POS founder Jason Richelson operated the Green Grape wine store in Fort Greene, Brooklyn, he struggled so often with archaic point of sale systems that it motivated him to develop his own alternative.

The corporate payment provider Wex has elected Eric Duprat to its board of directors.

Burger King Worldwide Inc. is introducing an application that will allow customers to pay for Whoppers with their smartphones as it races rivals to woo younger diners.

Acculynk will provide its payments processing gateway, PayLeap, to customers of cloud-based global e-commerce provider Ecwid.

Some of the nation's biggest banks killed a proposal in 2012 that would have enabled electronic payments to be processed on the same day they're initiated. Now the industry group that championed that plan, Nacha, is reviving its effort to speed up payments across the network that connects every U.S. bank and credit union.

Riders on Chicago Transit Authority buses and elevated trains will make all payments with the Ventra transportation card starting July 1, the CTA announced this week.

In the truck business, speed matters. And nothing slows down a payment like a paper check.

Virtual Piggy, the provider of Oink payments, will provide its alternative payment system to the European Games Group, which has roughly 16 million players worldwide.

Deutsche Telekom and mopay are extending their carrier billing partnership, which allows consumers to make purchases by adding them to their phone bill.

Western Union Co. and mobile payment provider Paga are offering a mobile fund transfer service to residents of Nigeria.

PayPal's John Lunn doesn't mince words when talking about the work that needed to be done to repair PayPal's developer programs. "Just go back a bit in time, toward the end of 2012 and early 2013, we were losing touch with developers."

London-based Flypay Ltd. plans to end what it refers to as the "10-minute restaurant bill chase" at the end of a meal by offering a mobile application that speeds up payment while providing more customer data to restaurant owners.

These 20 women have reached impressive heights in a traditionally male dominated industry and have played a vital role in helping their organizations stay ahead of the curve.

Google Wallet will require Android users to run KitKat, the latest version of the Android operating system, to use the wallet's contactless payments feature as of April 14, according to a post on the Google Wallet support site.

Digicash Payments, a Luxembourg-based mobile payments provider, is testing a system that uses a beacon at the point of sale to accept payments using Bluetooth, Near Field Communication and QR codes.

Klarna raised 90 million euros to finance its acquisition of Sofort through fundraising led by Klarna's founders and existing investors, including Sequoia Capital, General Atlantic and Atomico.

China's central bank blocked plans by Tencent Holdings Ltd. and an affiliate of Alibaba Group Holding Ltd. to offer virtual credit cards as the government moves to tighten restrictions on online financial products.