Payments

The design of Square Cash's new "$Cashtag" system may seem like a cutesy move to appeal to more consumers, but the underlying changes to the app show that Square's new focus is all business.

Credit unions stand to lose significant interchange fee income in the event that big retailers follow the lead of Walmart in switching from signature debit transactions to PIN-based transactions when customers swipe their debit cards upon making purchases.

In keeping with the growing market for global e-commerce payments, Stripe has developed a new version of its Connect service tailored for international startups.

EBay Inc. appointed two independent directors in advance of its planned spinoff of online-payment platform PayPal this year.

Matt Swann, who was in charge of Amazon Register and the defunct Amazon Wallet, has left Amazon.com for a role at Citigroup, according to a report by TechCrunch.

The mobile wallet market takes no prisoners. Startups and big companies have an even playing field, and many have already scrapped one or more products — while others have given up the fight entirely.

In just one week, Swedish company Seamless has expanded its SEQR mobile payment service to three more countries in Europe.

ST. PETERSBURG, Fla. — The board of directors of PSCU, the credit union service organization, announced that it has named Chuck Fagan as its president and CEO, effective April 27.

In the Chinese payment processing space, which is dominated by government-controlled entities such as UnionPay, the dynamic of pursuing new customers is markedly different from in the U.S. This point was a key factor when investment firm TA Associates chose to invest in YeePay, a company with limited ambitions.

Everlink Payment Services has created a prototype wearable payment device that works with Interac Flash.

Flint Mobile is joining the many technology companies that are evolving from their roots as payment providers to become enablers of a broad range of services.

Banks charge merchants a quarter each time customers swipe their debit cards — even though the mean cost of processing debit-card purchases has fallen to 4.4 cents. The Federal Reserve should ensure that the falling cost of debit-card processing is matched by lower fees.

For the most part, big banks and trade groups have run the conversation on deploying a faster payment system in the U.S. But Nacha's recently proposed 8.2-cent fee for same-day Automated Clearing House payments has merchants taking notice.

The coffee chain announced plans on March 18 to begin testing delivery in New York and Seattle, with the iconic 102-story office tower serving as its Big Apple proving ground. In New York, customers will order through a Starbucks website and eventually transition to its mobile app.

Apple's Near Field Communication-based wallet was not universally welcomed by banks and merchants, but the in-app Apple Pay system is steadily gaining momentum as more retailers see it as a way to latch onto Apple's cachet without overhauling their point of sale.

Facebook's Messenger app will soon let users send funds to one another, and the social network's use of payments to drive advertising and other business services is unlikely to stop there.

The Consumer Financial Protection Bureau announced Tuesday that it's seeking public comment ahead of a second study on the credit card market that could pave the way for new regulations or enforcement actions.

The megabank-led clearXchange digital payment network, which now counts U.S. Bank as a participant, plans to use its considerable reach in the coming year to diversify its capabilities while also pushing for collaboration among other providers.

Purchase, N.Y.-based MasterCard is working with Sao Paulo, Brazil-based Itau Unibanco in establishing and operating an electronic payments network in the South American country.

Alibaba Group Holding Ltd.'s finance arm, which owns Alipay, plans to use a partnership structure to allow top management to maintain control of the company's board after an initial public offering, according to people familiar with the matter.