Payments

The wife of a jailed Azeri banker, the target of the U.K.’s first unexplained wealth order, spent almost 16 million pounds ($20.4 million) across Europe, including at Harrods and luxury boutiques, on 10 credit cards issued illegally by her husband’s bank.

Merchant holdouts are finally warming to the likes of Apple Pay, years after the mobile wallet's launch. Competitive offerings have also flourished from mobile operating systems and phone providers.

Compliance can be complex and expensive, but failure puts merchants at risk, says FIME's Christian Damour.

Banks are rightly focused on PSD2 as an international gateway for fintechs to disrupt banking, though potential deregulation in Singapore can give digital payment companies another route to take share directly away from banks.

Facebook's plans to launch its Libra cryptocurrency dominated much of the discussion at American Banker's Digital Banking conference last week, but attendees also debated what big tech company might strike next and what future digital innovations are in store.

A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration.

Libra has only been public for a few days, but it has been enough time for regulators around the world to savage the project and schedule hearings. Jorn Lambert, executive vice president of digital solutions for Mastercard, said the project's objectives are aligned with the regulators' concerns.

Public-sector development of a speedier settlement service, to operate alongside the one being developed by The Clearing House, is crucial for seeing that institutions of all sizes are able to take advantage of this technology.

The Facebook digital-currency unit has a logo nearly identical to that of the challenger bank Current, which has been around since 2015.

Hackers are flocking to loyalty and rewards programs, pushing marketers to embed extra fraud technology to stem financial losses.

Bill Ready, the former CEO of Braintree who helped PayPal build its digital strategy over the past six years, announced plans to leave the company.

Community bank executives, payments officials and others said Libra faces an uphill battle amid heavy competition and regulatory scrutiny.

Large U.S. banks and merchants are finally working together to support contactless payments. But two of retail's biggest chains, Walmart and Kroger, aren't on board, and for good reason.

On Dec. 31, 2018. Dollars in thousands.

Apple Inc. is ramping up a test of a digital-first credit card with Goldman Sachs Group Inc. by expanding its use to tens of thousands of the iPhone maker’s U.S. retail employees.

Today’s employees bring their own devices to work, split their time across multiple screens, and can conduct their jobs from anywhere. Business pay has to match that reality, says Billtrust's Flint Lane.

Many might think that the technological disruption of the industry is already underway, but it’s likely that the most significant restructuring is still yet to come.

There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.

Facebook's Libra project didn't come from nowhere. The social network has a long history of experimenting with digital payments, and launched a separate (and ill-fated) digital currency a decade ago.

In a bid to keep pace with coffee arch-rival Starbucks’ delivery and mobile order-ahead services, Dunkin’ is working with Grubhub to roll out New York delivery.