Mobile payments

Google is helping developers cut steps out of the path to accepting digital payments with several key moves unveiled around the Google I/O developers conference taking place this week.

Users of the Walmart MoneyCard, issued by Green Dot, took to social media Wednesday to complain about problems they've encountered checking balances and accessing funds. The problems come at inopportune time for Green Dot.

There is merit to the 'coopetition' strategy, such as faster time to market and reduced consumer confusion. But time and again, bitter rivals such as telcos and big-box retailers try to work together only to see their efforts fall apart or vastly reduce the scope of their goals.

Payments’ future in wearables is promising, but if one thing is clear already, it's that banks have no business designing fashion accessories.

Google’s upcoming personal assistant and cross-platform messaging apps make substantial use of payments, though the transactions exist entirely in the background to encourage a smooth user experience.

Android Pay went live in the U.K. Wednesday, making the nation the first outside of the U.S. to support the service.

Back in 2014, Dekkers Davidson, then CEO of the Merchant Customer Exchange, declared that the mobile wallet venture would draw inspiration from Uber and be just as disruptive to financial services as the popular ride-sharing app was to the taxi industry. But Uber's success stems largely from its decision to make payments invisible, whereas MCX was developing its CurrentC wallet to do just the opposite.

Fifth Third Bancorp has hired Citigroup's Melissa Stevens to the newly created position of chief digital officer and head of omnichannel banking.

When Walmart switched on Walmart Pay this week at 600 stores in two states, it marked the beginning of a new era, when merchants finally take the reins in mobile payments — and, by extension, the future of digital commerce.

The Merchant Customer Exchange, a retailer-backed mobile wallet venture of over three years in the works, has postponed its plans for a national rollout of its mobile wallet.