Payments

The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.

Cubic Corp is trying to boost transit ridership by allowing rewards earned via mobile payment usage to offset the cost of fares.

PayPal reported strong growth in revenues, earnings, payments volume and users, demonstrating as the company has finally transitioned away from the vestiges of its former eBay ownership.

Competition between hundreds of national and global payment systems forces everybody to continually adapt, up their games, culling weaker and underperforming systems and inviting the search for better mouse traps, says Intrepid Ventures' Eric Grover.

Given the Super Bowl's large audience of consumers and the ability to sway their future spending habits, businesses spend millions of dollars for the opportunity to air a 30-second TV commercial.

The card networks' single "click to pay" button — an implementation of Secure Remote Commerce — is drawing some negative attention from merchant groups and independent networks that see it as a way to steal volume from alternative payment providers.

Payment industry players are expected to present testimony on Capitol Hill before a House financial technology task force on Thursday that’s weighing a bill to prohibit stores from refusing to accept cash.

The Wall Street bank aims to double consumer deposits and triple outstanding consumer loans in five years. A checking account is slated for 2021, and more cobranded credit cards could be coming.

The town’s 5,400 residents will be able to settle bills for taxes and other government services such as work permits using the cryptocurrency, Mayor Romy Biner-Hauser said.

Digital receipts and rewards startup Flux has been gaining ground with retailers and challenger banks, and had continued the momentum by attracting investment from Barclays.