Payments

Discover Financial Services has entered into a written agreement with the Federal Reserve to improve its anti-money laundering procedures.

BBVA has introduced technology that its mobile wallet users in Spain may liken to switching channels on a TV.

Google plans to release a new mobile payment system called Android Pay, which will include many of the same features as Apple Pay, while the Google Wallet brand will live on as a peer to peer service.

San Diego-based Mitek, a firm that specializes in capturing mobile data for customer acquisition, has acquired Dutch identity verification company IDchecker.

The use of e-commerce payments technology as a portal to other business services is advancing rapidly, requiring point of sale companies to constantly add new tools that merchants and developers can use to add muscle to transaction venues.

One of the stumbling blocks with the global expansion of digital wallets is the resistance to payment cards in many countries, including India, China and Brazil, notes Forrester Research in a recent report.

The banking giant hopes that convenience — and less paperwork — will help it do more business with existing small business customers.

U.S. acquirers are looking to expand their business in emerging markets, where small merchants are starting to enter the commercial framework.

China UnionPay Co. introduced the nation’s first wearable payment product as the giant of the Chinese industry moves to defend its turf from other service providers.

Visa and MasterCard's support for host card emulation (HCE) is a boost for mobile pay, though there are still security concerns.

ST. PETERSBURG, Fla. — PSCU says it is the nation's first CUSO certified to issue EMV-enabled debit cards on First Data's Debit Solutions platform in advance of the October EMV liability shift deadline.

Japan's NTT Docomo has become the first mobile network operator to join the Fast IDentity Online Alliance's board of directors.

Toronto-Dominion Bank, Canada's second-largest lender by assets, agreed to buy Nordstrom's Visa and private-label credit-card portfolio in the U.S. as it expands purchases in North American consumer credit.

The proposed $19 million settlement to cover financial institutions' losses from the Target data breach in 2013 has failed, and financial institutions believe public data security fears provide a strong hand in future talks.

MasterCard issuers had to cast at least 90% of their votes in favor of the Target settlement by May 20, and not enough did, the companies said. Banks and credit unions will fight for a better deal.

MasterCard issuers had to cast at least 90% of their votes in favor of the Target settlement by May 20, and not enough did. CUs and banks will now fight for a better deal.

Canada’s Beck Taxi has launched a new app that accepts PayPal and card payments and is designed to compete with Uber and Lyft in Canada’s largest city.

Hundreds of banks are supporting Apple Pay, but the cost is sparking a counter movement toward financial institutions operating their own wallets.

Startup CP Security Inc. is taking on tech giant Apple in the digital and mobile payments ring, building what CP Security calls network fabric that will bolster payments security and reduce expense.

It's hard to find a more competitive mobile wallet market than India, with 1.3 billion consumers and multiple viable wallet apps, including Freecharge, Paytm, Citrus Payment, Oxigen, Mobikwik, Zaakpay and ItzCash. But this crowd is competing for a consumer base that favors cash for all transactions.