Economy

Apple has officially unveiled Apple Pay, a new 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.

The unveiling of the next iPhone is imminent, and with it Apple is expected to announce plans for a mobile payment system with the support of the major card networks, retailers and banks. But what, exactly, would go into such a system?

Merchant acquirers and processors are looking at a far different payments landscape in light of recent and anticipated developments from the Merchant Customer Exchange, Apple, Amazon.com and other companies.

The telco-driven Isis mobile wallet will now be called Softcard, a name chosen to avoid confusion and association with a militant group in the Middle East that is often referred to as "ISIS."

For Apple, the timing couldn't be worse to launch a mobile wallet. Mobile wallets can be a tough sell for many consumers, and brand image is a key element in winning their trust.

Beer and wine are often used to lower inhibitions about anything new. Why should payment technology be any different? Many companies that manufacture or sell alcohol are at the forefront of payments innovation.

Square Cash, a person-to-person payment service Square launched in October 2013, has been redesigned to become more useful as an app-based product.

As the acquiring business becomes increasingly complex, it’s more important than ever for ISOs to recruit, nurture and retain the best independent sales agents, a new study shows.

The Backoff malware that has attacked point of sale systems at hundreds of businesses may accelerate adoption of EMV "chip and PIN" cards and two-factor authentication.

As payment technology pushes into the future, innovators are coming up with unexpected ways to pay. Whether this means attaching technology to animals or sewing it into our clothing, many of these products are a leap beyond the ordinary payment card.

Almare Gelato Italiano accepts many alternative payment methods, and hasn't paid a dime for them because its vendors want a taste of the foot traffic at store's prime location in downtown Berkeley, Calif.

There’s a consensus in the acquiring industry that long-awaited changes in payments technology are bound to take place. But how and when will those changes will occur?

Merchants are still using pedestrian passwords that crooks can easily break, security company Trustwave has found.

Braintree and PayPal are testing an integrated mobile payments feature, delivering on the company's promise to integrate technology from Braintree's Venmo unit.

Square is under pressure to adapt to the onslaught of competition from the likes of Amazon, PayPal, Groupon and Fiserv, all of which have applied their own spin to the mobile card reader concept. Square has recently made a number of moves to improve its offerings and its image.

As banks flee the deposit advance business, startups are offering services that let consumers name their payday and collect what they have earned up to that point, regardless of the day of the week.

Now’s the time for ISOs and agents to convince mom-and-pop merchants to adopt loyalty schemes, experts say.

Global Payments has agreed to enable its clients to accept digital currency in a move that may attract international shoppers to brick-and-mortar merchants.

Amazon.com Inc. has launched a Square-like mobile card reader called Amazon Local Register, charging early adopters just 1.75% per swipe until the end of 2015.