Payments

Transpay is launching a mass payout feature which allows users of its cross-border payments platform to send funds to a recipient's bank account within minutes.

When it comes to free loyalty programs, financial institutions are suffering from revenue model challenges and low uptake, though it's a problem that can be fixed.

For two and a half years, Celine Lazorthes and her team at Leetchi, a group-payment provider for gifts and events, struggled with the regulatory requirements needed to become an e-money issuer in Europe.

Samsung is widely reported to be adding mobile-payment technology from LoopPay to its next Galaxy smartphone. Such an approach would be vastly different from that of Apple, PayPal or MCX's CurrentC — and it would address a key issue with LoopPay's own business model.

The bank's most recent ATM update offers something novel: customers can redeem their credit card rewards for cash or deposit them in other accounts at its 12,500 ATMs.

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services announced that it will re-launch its mobile banking application called "CO-OP Mobile."

ST. PETERSBURG, Fla. — PSCU EVP and COO Tom Gandre has been placed at the helm as acting CEO of the CUSO, where he replaces outgoing CEO Mike Kelly, who has been dismissed by the board.

The flood of mobile-centric point of sale (POS) offering provides many options for retailers, but there's still a long road ahead to adoption on the consumer side.

Amazon.com is a savvy and influential company in the e-commerce world, but its efforts in payments have been less consistent. It has significantly changed the way people redeem rewards and shop on third-party sites, but it has proven less successful in person-to-person payments and the mobile point of sale.

The head of the Federal Communications Commission is pushing hard against charging fees for faster Internet access, a stance that's a relief to businesses like Dwolla that use the Internet to develop and deliver payment services.

CardFlight has updated its SwipeSimple mobile point of sale device, which allows merchants to take payments and manage their business from smartphones and tablets.

Discover, the only major U.S. card brand not connected to Apple Pay, is thus one of the few major credit card issuers not shoehorning Apple into its ads. But Discover has never been one to ignore a marketing opportunity.

Mobile wallets are typically designed to be most useful at the point of sale. Israeli location-based technology vendor WiseSec sees an opportunity to extend a mobile app's utility throughout the store by using beacons that can sense how far away a shopper is.

A federal judge has upheld a Texas law that bars the state's retailers from charging an additional fee to customers who pay with a credit card.

As the Federal Reserve and other entities push toward developing a faster payments system in the U.S., it has become increasingly apparent that a good place to start is through debit networks.

Wells Fargo has agreed to pay $4 million to settle charges that it made secured credit card loans in violation of New York law.

Alibaba Group Holding Ltd.'s finance arm agreed to buy a 25% stake in One97 Communications Ltd., owner of an online payments processor, to tap into India's growing e-commerce industry.

Mobile payments provider Spindle will provide aggregation technology to EggZack to resell to mobile point of sale and e-commerce merchants.

By linking mobile payments with money transfers, Western Union created a new use for Apple's mobile wallet. But it must still rigidly conform to the basic requirements of an Apple Pay transaction — without a bank account, there is no payment.

There have been many attempts in recent years to convince issuers and consumers to store multiple payment accounts in a single high-tech card, typically with an emphasis on consumer choice. A new approach uses the same technology but packs in data analytics to take some of that choice out of consumers' hands.