Economy

A probe into PNC Financial Services' mortgage lending is stoking fears that regulators are preparing to crack down on other large banks for alleged loan discrimination ahead of a Supreme Court case that might curb the use of the controversial "disparate impact" theory.

Shopify is integrating payments processing with its online storefronts, enabling merchants to accept and manage Visa, MasterCard and American Express payments directly through Shopify.

The brouhaha over a court ruling that debit card fee caps be lowered overshadowed another problem for banks: the decision could also enable merchants to play card networks against one another on signature debit transactions.

Chase Card Services says it will stick with the Isis mobile wallet venture as it prepares for a national rollout after nearly 10 months of testing. In doing so, the JPMorgan Chase unit also gives its endorsement to Isis' model of using Near Field Communication for contactless payments.

Companies such as CenPOS, Ingenico and BillingTree are accelerating payments innovation by customizing their technology for the automotive industry.

Green Dot is elbowing into a corner of the prepaid card market that rival NetSpend has long dominated.

Sunrise Banks, based in Saint Paul, Minn., has never shied away from issuing an experimental prepaid card in its mission to help the underbanked find financial stability.

BlackRock, DoubleLine and Pimco filed a lawsuit Wednesday to try to stop the city of Richmond from buying and restructuring underwater mortgages through the use of eminent domain.

The Lamassu machine, a so-called Bitcoin ATM, is a rare device that makes it possible for the unbanked to obtain digital currency. It was invented by a pair of guitar-store proprietors who wanted to break into the payments industry — and are prepared to face the music when regulators take notice.

As financial services startups debate whether it is better to ask regulators for permission or beg for their forgiveness after acquiring customers, PayPal’s history might offer some lessons.

Would-be payments disruptor Aaron Greenspan says a California money transmission law forced him to choose between killing his startup and going to prison. Other financial services startups may face similar choices.

New York state is asking more than 100 banks to choke off access to the automated payments system that unlicensed online lenders use to debit the checking accounts of consumers.

PayPal's new partnership with Alliance Data spans multiple products at both companies, but it has barely scratched the surface of what the two payments providers say is possible.

Mercury Payment Systems LLC now offers software tools for application developers to use to enroll merchants online for Mercury's payment processing and card services.

Brinqa's tech and ops risk modeling software calculates the value of worst-case scenarios, to push investment in solutions.

ISOs should make sure their processors and acquiring banks are preparing to collect internet state and local sales taxes, a vendor tells ISO&Agent Weekly.

BitWall, a Bitcoin content monetization startup, will launch next week to allow people to sell low-value digital content, putting one of the digital currency's favored use cases to the test.

Visa has elevated former PayPal and Yahoo executive Sam Shrauger to head of digital, part of an internal reorganization at the card network that took place at the end of July, according to an analyst report from Janney.

To create effective mobile payments products, developers must treat merchants and consumers as separate customer segments that have of inextricably-linked needs.

VeriFone Systems Inc. is bundling payments hardware, software, security and compliance into a payment-as-a-service product called VeriFone Point.