Economy

To say the Softcard mobile wallet had an interesting year would be an understatement. By the end of 2014, it had a new name and a new competitor: the formidable Apple Pay.

Apple Pay's October debut was arguably the biggest story in mobile payments in 2014. But it's only the prologue of a larger conflict set to heat up in the year ahead.

The digital currency movement is headed into 2015 still looking for a "killer app" to pull Bitcoin out of obscurity. Mixing Bitcoin's technology with the virality of social media could be the winning ticket.

Biz2Credit, an online lending marketplace geared toward small businesses, has received a $250 million investment capital agreement from Direct Lending Investments, a fund that purchases small business loans through online and peer-to-peer lending platforms.

Square is committed to its diversification strategy, furthering its transformation from a simple mobile point of sale provider to a company that also handles small-business loans, marketing and e-commerce.

2014 was a big year for payments. Disruption came from within the financial services industry and from outsiders like Apple and Walmart. Mainstream payment companies had to respond to these new competitors as well as adapt to fresh attention from regulators and fraudsters.

As computing devices get closer to the body and more Internet-connected, payment platforms will have to be flexible enough to work in a vast number of environments, according to PayPal's Joel Yarbrough.

A technology called "host card emulation" made a big splash when it became part of the Android operating system in late 2013, but 2014 marked the year in which the tech became a foundation for future mobile wallet development.

For MasterCard's Mung Ki Woo, the future of payments is an app that unlocks new consumer habits by literally unlocking their doors.

While many mobile wallet companies look to complement credit and debit card acceptance, South Africa's SnapScan is focused on merchants who accept only cash.

Walt Disney World in Orlando, Fla., will accept Apple Pay as a companion to its own contactless payment cards and wristbands.

Federal bank regulators increased the asset-size thresholds for the definition of a "small bank" and "intermediate small bank" for certain bank exams on Friday.

There is a lot of competition in mobile payments, and sometimes it takes an odd idea for a product to stand out. These banks, card networks and other companies dared to bring something new to the market, but only a few can claim the risk paid off.

LevelUp, a mobile payments provider known for its playful office culture — and a CEO who prefers to be called a chief ninja — may need to mature as its competition gets serious.

WASHINGTON — The Financial Stability Oversight Council voted Thursday to designate Metlife as a systemically important financial institution, the insurance company revealed, making it the fourth nonbank to receive that designation.

The Financial Stability Oversight Council put a careful foot forward Thursday on the path of designating the asset management industry as a potential economic threat.

White-label mobile payments and commerce provider Mozido LLC has acquired mobile wallet provider CorFire, which developed mobile wallets for retailers like Dunkin' Donuts, to fuel its global expansion.

For American Express' Nik Sathe, developers with no experience in the payments industry are among the best to hire.

American Banker has named online marketplace lending the Innovation of the Year. Matt Burton, CEO of Orchard Platform, explains how this booming business evolved out of peer-to-peer lending and whether alternative finance firms are competing with banks.

Orchard Platform CEO Matt Burton discusses how online marketplace lenders use data and technology to speed lending and improve transparency.