Economy

The introduction of Apple Pay as a mobile wallet competitor illustrates that the payments landscape calls for partnerships and collaboration, rather than a “winner take all” mentality.

The House Oversight Committee has turned its focus to the role of the Federal Trade Commission in the Operation Choke Point.

ISOs and agents are perpetually seeking new value-added products and services that can generate profit and foster differentiation, and three possibilities have come to light recently.

Chase is working with Apple to vet potential developers and merchants after more than 500 people attended and responded to Chase's two live webinars about its three Apple Pay developer labs in Columbus, Ohio, Tampa, Fla., and San Francisco, Calif.

Facebook's peer-to-peer (P2P) transfer app is currently only a screen grab circulating around Silicon Valley, but payments companies should brace for a series of competitive apps from the social network, according to industry experts.

With the coming split from eBay, PayPal is poised to become one of the new leaders challenging the plastic card and magnetic stripe hegemony.

GoDaddy is partnering with online payments provider Stripe to entice small businesses to embrace e-commerce by adding faster credit approval and card acceptance.

EBay and PayPal were once rivals, but in 2002 they joined to become a single company. Since then, PayPal has worked to move beyond the confines of its parent's online auction site. It is now well prepared for its planned spinoff.

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.