Payment processing

Bank of America Merrill Lynch is launching a payments collection platform that helps users manage mobile wallets and card payments in China through an arrangement with China UnionPay Merchant Services.

Vantiv, the largest U.S. merchant acquirer, agreed to buy the e-commerce payments company Worldpay Group for about £8 billion ($10.4 billion).

The regional bank will record a pretax gain of about $1 billion as it continues to shed its stake in the payment processor Vantiv.

With clients seeking a faster way to reimburse employees for expenses, Shoeboxed turned to payments technology provider Dwolla to help create Fetch.

Four months after partnering with linked2pay's Bank Centric Payments platform, ICBA Bancard says it will support real-time posting of payments for community banks and their small business customers.

Germany-based Payworks is the latest to partner with Ant Financial’s Alipay as it works to expand the base of merchants capable of accepting the popular Chinese online and mobile payments app in Europe.

Global Payments hasn't hesitated to shell out huge dollars if it provides a quick-strike opportunity to pair technology with multichannel payments in markets where such marriages remain rare.

Plenty of U.S. merchants still working to complete their migration to EMV now have another high-pressure technology hurdle to worry about: Most are still using a core transaction security protocol set to expire in the next 11 months and if they don’t take appropriate action they’ll be unable to process transactions.

One of the critical unanswered questions early in the Single Euro Payments Area process and the new Payment Services Directive in Europe was whether banks would pony up for needed technology upgrades.

A task force convened by the Federal Reserve released its evaluations last week of 16 proposals to build a faster U.S. payment system. What follows is a brief look at some of the plans that received high marks.