Payments

A big problem holding back mobile payments is a "chicken-and-egg" issue that Apple Pay's U.S. rollout and pending debut in Europe can reverse.

Wallaby Financial, a company that makes an app to help consumers determine which cards provide the best rewards for each purchase, has agreed to market the Wocket Smart Wallet device to its customers.

Visa Europe would like to be where Apple Inc. is — at least in terms of its technology and product development.

RANCHO CUCAMONGA, Calif. — Good news for stragglers — It's not the end of the world if you're not ready for the EMV liability shift that takes place on Oct. 1.

The Merchant Customer Exchange, backed by Walmart, Target and other mega-retailers, now operates in a market where Apple changed the ground rules. Though the initiative has yet to formally launch its CurrentC mobile wallet, MCX has already been forced to adapt many times.

Offering consumers more extensive ways to shop and pay whenever, wherever and however has become a competitive advantage for retailers. So what can the accounts receivable management (ARM) Industry learn from the retailers clamoring to provide their customers with a perfect "omnichannel" experience?

Everlink Payment Services Inc. of Markham, Ontario, has introduced a new anti-fraud service that allows Interac debit card users to activate and deactivate their accounts for security.

If banks and retailers want a piece of the mobile wallet pie that Apple Pay is steadily gobbling up, Nacha says it has a formula to achieve that.

A GOP-led measure would have forced the Defense Department to do more study before finalizing regulations on high-cost loans to service members. It was quashed when five Republicans voted with Democrats on the House Armed Services Committee.

The conventional wisdom is that the boom in mobile device adoption will encourage the use of mobile wallets. AT&T is betting that the opposite concept — that mobile payments can lead to more smartphone use — can also be true.

Ironically, two current U.S. payment security initiatives – the EMV chip-card migration and the faster payments project – will prompt hackers to find new ways to compromise banking networks.

Financial industry groups are supporting the effort to stop the Pentagon from issuing new regulations on high-cost lending this year, while congressional Democrats and consumer groups are decrying it.

On Amazon.com, shoppers can spend hours browsing and buying products, watching movies and listening to music; on the Apple Watch, however, Amazon is challenged to complete all interactions in a matter of seconds.

MCX CEO Dekkers Davidson has left the merchant-led mobile payments initiative, and will be replaced on an interim basis by Brian Mooney, a former Bank of America and First Data payments executive.

Best Buy's move to accept Apple Pay in its stores is the clearest public sign yet that the Merchant Customer Exchange has radically altered its vision of and ambitions regarding a retailer mobile wallet.

PayPal is extending its "One Touch" payment technology, obtained through its 2013 purchase of Braintree, to the Web, giving the eBay unit a significant new offering as it prepares to split off on its own.

Companies like Square, Roam and Leaf revolutionized small business by turning mobile devices into wireless cash registers, and Visa predicts the same concept can accelerate financial inclusion.

Mobile apps have become an ingrained part of air travel, providing everything from boarding passes to entertainment, and are increasingly handling payments as well.

Apple has had a rough time signing major merchants to accept Apple Pay in stores, but it has finally won the support of Best Buy, a nationwide retailer that swore off Near Field Communication-based payments years ago.

NXT-ID will start shipping its Wocket wallets to customers at the start of May, over a year after it first announced the mobile payment device.