Economy

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.

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.