Payments

CO-OP Financial Services on Thursday said it will offer a subsidy to clients switching to EMV cards that will total $9.1 million.

Card issuers, already fighting the threat of mobile wallet initiatives that draw funds directly from bank accounts, must now contend with a new partnership that makes carrier billing a more viable replacement for bank cards at the point of sale.

Munich-based payment company Wirecard AG will support the implementation and financial processes behind the launch of Orange Cash in Spain.

Swatch Group AG will introduce a model that can make mobile payments around July or August, which will give Apple Inc.'s smartwatch more low-price competition.

While PayPal deals with Consumer Financial Protection Bureau probes related to its consumer credit products, one of the company's founders is forging ahead with a company he created to develop its own consumer credit service for e-commerce.

NEW YORK — The October deadline for shifting EMV liability may still be months away, but even with several years of lead-up time, there is widespread skepticism in the payments industry about whether the change will help combat fraud.

China's government plans to allow foreign card-payment networks to process domestic transactions. But companies like Visa and MasterCard will have a tough time capturing a percentage of China's explosive payments market.

In theory, all parties benefit when consumers have their choice of payment options, but the deluge of new technologies has led issuers to respond in ways that could create lasting frustration for consumers and merchants.

Kwik Chek Food Stores' new technology for updating gas prices at the pump also pushes those price changes to motorists using its mobile payment app, a feature that gets customers engaged with the retailer long before they pull up to the pump.

The Weve joint venture is breaking up, with Telefonica O2 buying out the U.K. telcos that joined it four years ago in planning a country-wide mobile payment system.

Home Depot Inc. plans to enable Apple Inc.'s mobile-payment platform at its more than 2,000 stores, making it the largest retailer to accept Apple Pay.

PayByPhone is bringing mobile payments to parking meters in cities around the world, and the vendor argues that its platform will attract consumers that don't want a different app for every city they travel to.

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.