Economy

PayItSimple, a credit card installment provider, is seeking ISOs and agents to promote its no-interest scheme service to merchants.

Ingenico Group is using its experience in EMV-chip terminal upgrades and new momentum from Apple Pay to position itself for the U.S. conversion to smart-card technology.

EBay's planned spinoff of PayPal, announced today, is a necessary and inevitable response to the influx of disruption coming to the payments industry from unconventional sources. As companies like Amazon.com, Apple and Wal-Mart take a growing interest in the payments market, PayPal's status as a unit of a rival e-commerce company limited its role.

Wal-Mart is both a powerhouse in retail and a pioneer in financial services. The company has championed numerous initiatives in prepaid and mobile payments, and it has also been quick to push back on technologies it does not like.

PayPal is going slow when it comes to Bitcoin, limiting its current focus to emerging channels and relying on partnerships with virtual-currency processors in North America.

Wal-Mart Stores Inc.'s deal to distribute Green Dot Corp.'s mobile checking account, GoBank, signals a fundamental change in how both companies approach their audience.

Apple Pay is poised to foment a technology revolution that could force acquirers to rewrite the job descriptions of their salespeople, says a prominent ISO chief executive.

Apriva has added data analytics and business management tools to its payments software for bank and merchant services clients, along with a Web portal where merchants can review consumer behavior.

Apple Pay isn't yet on phones, but many companies in the financial services industry have already changed their strategies to respond to it. Some are on board with Apple's new mobile wallet, but others are firmly against it.

It’s no coincidence that Visa Inc. launched its new Visa Token Services the same day Apple unveiled its mobile wallet, according to Matthew Dill, the card brand's senior vice president and head of innovation and strategic partnerships.

It’s time for the Payment Card Industry Security Standards Council to work with acquirers to provide merchants with “PCI in a box,” says Stephen Orfei, the council’s new general manager

Apple's long-anticipated move into mobile payments seemed to cover all the bases — Apple Pay will launch with the support of major banks, card networks and retailers. But there were several things that didn't make it into the first version of its mobile wallet.

"What you are seeing is a company like Apple, representing 40 percent of operating system penetration, helping introduce [tokenization] for us in a way that consumers will find comfortable and easy to adopt," said Matthew Dill, Visa's senior vice president and head of innovation and strategic partnerships.

The vision that Apple’s founder Steve Jobs once had of a new type of mobile phone that could become so instrumental and integrated into people’s lives that they’d rather leave their wallet at home than their iPhone is starting to take shape.

The banks involved in Apple's mobile payment platform cite the enhanced security, intuitive user experience and brand name. Even if they sacrifice fees, they could make it up on volume.

Apple Inc. has officially unveiled Apple Pay, a 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.

Apriva says it has “future-proofed” its services for ISOs by connecting to a digital currency gateway and developing a universal POS application.