Payments

Apple's planned update for accepting contactless payments on its handsets is as disruptive as it is inevitable. Companies like Ingenico, which makes point-of-sale hardware, have strategies in place to build on the tech giant's platform without sidelining their own devices.

Jennifer Barker, who will join Bank of New York Mellon in May, is expected to maintain the custody bank’s focus on its digital transformation.

Teaming with the fintech Buy It Mobility Networks, Discover Financial Services plans to enable Automated Clearing House payments within merchant apps.

Coinbase Global Inc., the biggest U.S. cryptocurrency exchange, is wading into the international money-transfer business, seeking to tap into a huge market dominated by firms like Western Union Co.

The money transmitter's $1.8 billion acquisition by Madison Dearborn Partners removes the need to appease investors on a quarterly basis, freeing up the company to invest in a long-term transformation of its technology.

As more consumers shop and bank online, Texas Capital and its rivals are competing for market share with concepts such as an American Airlines savings account that offers miles instead of interest and one that pays a 0.70% annual percentage yield, beating the national average of 0.06%.

Mastercard said it will hire more than 500 young professionals this year as it expands its data and services unit, an effort that will include launching consulting practices focused on cryptocurrencies and open banking.

MoneyGram International, one of the largest money-transfer services in the U.S., agreed to be acquired by the private equity firm Madison Dearborn Partners for about $1 billion in cash.

After the Financial Conduct Authority told Klarna, Openpay, Clearpay and Laybuy to make their contract terms clearer, three of the companies refunded late-fee charges to consumers.

Bank of America has led a $20 million funding round into U.K. startup Banked, a tie-up that will give customers of e-commerce companies in the U.K. the option to make card-free purchases.