Economy

AME Commerce plans to use acquirers to promote the low-cost, hassle-free sites it wants to create for the 50% of Tier 4 small merchants too intimidated or too pressed-for-time to set up their own.

Western Union has partnered with electronic payment processor eTranzact to offer mobile money transfers in Nigeria.

VeriFone Systems Inc. will soon bundle payments hardware, software, security and compliance into a payments-as-a-service product called VeriFone Point.

A group of technology companies is working to build digital currencies into Web browsers, a move that could help payment methods such as Bitcoin thrive.

PayPal is sponsoring a hackathon series where mobile app developers have just 24 hours to build an app that will win them a trip to PayPal headquarters to compete for $100,000 at the Battle Hack World Finals.

Apple Inc.'s acquisition of a small semiconductor company has given fresh credibility to rumors that the technology giant is planning a 'smart watch' that could perform contactless payments.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

London-based Zapp has hired a former Barclays executive experienced in mobile payments to help prepare for its first product launch in early 2014.

A symbiotic relationship between security and revenue may sound too good to be true, but it's not. ISOs and acquirers can succeed by creating opportunities that pair enhanced PCI compliance tools with new revenue streams.

The Pulse debit and ATM network is working with mobile payment provider Paydiant to give banks a software-based mobile wallet with the bank's brand.

IDT Payment Services, a subsidiary of IDT Corp., launched an international money transfer service to expand its Boss Revolution payment platform.

We asked contributors and readers to weigh in on the types of products and services tomorrow's banks might offer. Here's what they came up with.

Prepaid cards, widely accepted by the underbanked as a way to facilitate spending, are also emerging as a catalyst for saving and an alternative to short-term credit.

The best way to judge a mobile wallet's potential is to see how it handles failure.

Isis, the carrier-run mobile payments venture, plans to take its system nationwide this year. The initiative, which was formed by AT&T, Verizon Wireless and T-Mobile USA, has been testing its contactless payment technology in Salt Lake City and Austin since October.

Payment Alliance International, an ISO and ATM deployer, has signed an agreement with BB&T Corp., a financial-services holding company, to brand more than 130 Rite Aid Corp. ATMs in the Atlanta area.

While many people think of Bitcoin as a currency, Jaron Lukasiewicz, CEO and co-founder of Coinsetter, says Bitcoin should be thought of more as a payments infrastructure, allowing quick, inexpensive funds transfer. But for Bitcoin to thrive, banks must agree with this perspective.

A new self-regulatory organization for crypto-currencies could do a lot to advance the industry, but risks becoming co-opted by the government and undermining the core value proposition of digital cash.

Leaders in emerging payments and virtual currency have formed a committee to establish a self-regulating body to ensure regulatory compliance as the marketplace changes.

Total Merchant Services is expanding north of the border. The Woodland Hills, Calif.-based ISO has hired a veteran of the Canadian acquiring business to head a new Toronto office.