Economy

Online lending marketplaces claim that they will revolutionize the financial services industry. But financial companies need a lot more than high-tech prowess to achieve sustained success.

Even is building a mobile money-management service for baristas, Lyft drivers, freelancers and others with unpredictable incomes. For $5 a week, users can draw advances on paychecks during rough patches.

The extended leave of Starbucks' chief operating officer, Troy Alstead, could indicate that last year's creation of the COO post has succeeded in furthering the coffee chain's mobile payments initiatives.

One of the clearest things that sets Apple Pay apart from other mobile wallets is its incorporation of Touch ID fingerprint recognition. Now that Apple has opened up Touch ID to outside developers, the fingerprint tech is spreading throughout — and in some cases beyond — Apple's ecosystem.

A San Diego-based debt collector has agreed to pay $675,000 in civil penalties and give up $18 million won in court fights against 4,500 consumers, New York Attorney General Eric Schneiderman said Friday.

As with any marriage, banks that forge alliances with tech companies need to make sure they really know their partners. They may also want to consider a prenup.

Traditional merchant acquirers have faced disruption from a number of new entrants in recent years from companies such as Square and its peers. And now, a football team is getting into the game.

The company said in a press release Thursday that it redeemed preferred shares worth $76.46 million that were issued under the program to the Treasury Department.

Home values have risen fastest in markets where institutional buyers bought up scores of foreclosed homes and then rented them out. But these investor have largely curtailed their buying, and may even be ready to start selling off more properties to profit from the run-up in home prices. That could be good news for first-time buyers.

Mortgage denials in 2013 were comparable to those recorded a decade ago, analyses of HMDA data show, challenging perceptions about how easy lending really was during the era of "pulse" loans and "fog-a-mirror finance."

Leaders of smaller banks optimistic about the growth prospects of small-business loans in 2015, but they are equally worried about increased competition from larger banks, nonbanks and credit unions.

President Obama is expected to announce a half-percentage-point reduction in the Federal Housing Administration's annual premium during a housing policy speech Thursday in Phoenix.

Apple's reputation as a negotiator is rather simple—it doesn't negotiate. But Strategic Resource Management, a negotiation company with 200 clients in financial services, contends issuers and merchants have a chance to win more favorable terms with Apple.

Andy Pitts, president of MLS Direct Network Inc., wasn’t prepared for all the unexpected costs—and headaches—that came along with becoming a full-fledged wholesale ISO.

Say goodbye to Merchant Warehouse and hello to Cayan, as the Boston-based ISO and technology provider changes its name to fit its changing business model.

Tablet-based point of sale and other integrated payment systems are advancing quickly, but there are some obstacles in the road to domination—particularly for providers that didn't plan ahead for EMV-chip cards in the U.S.

Video tellers are being touted as a way for banks to increase efficiencies and cut costs while also giving customers the human interaction they desire, but some argue that speed is more important than seeing a friendly face.

Though Amazon.com's Fire Phone sputtered out as soon as it launched, the company has built a solid foundation in mobile payments that will fuel its next big moves in 2015.

Say goodbye to the Merchant Warehouse and hello to the new Cayan, as the Boston-based independent sales organization and technology provider changes its branding to fit the changes it has made to its business model.

The payments industry is quickly adapting to new technology, new regulations and new consumer demands. Here are 15 of the industry's major transformations already in progress.