Payments

The U.S. and Canada are far behind Europe and Asia in contactless adoption in general. A handful of mass transit agencies are stirring hopes about NFC fare payments, but even these cities are taking a cautious approach to open-loop payments.

Steve Wozniak indicated that he'd like to see the Silicon Valley behemoth continue to partner with banks, rather than applying for its own charter.

India’s push to build a broad biometrics-based consumer identity database—now 1 billion strong—has been a boon to Paytm and other mobile payments providers leveraging Unified Payments Interface (UPI), the open-architecture structure supported by India’s government.

TransferWise Ltd., the London-based international money transfer service that is considered one of Europe’s more promising financial technology startups, is lowering the fees it charges to send money from the U.K., the company said Monday.

Business payments are notoriously resistant to automation and innovation, though there are some signs of digital processing showing up in the education and science market.

Any bank using IBM for managing transactions and funneling payment processing onto a single platform will now have access and support for the Zelle person-to-person payment service.

KRACK, combined with other attacks, allows for the reading of pain text username, passwords, credit card numbers as well as the injection of code including ransomware, writes Timothy Crosby, senior security consultant for Spohn.

Bank fires four forex traders, while the OCC slams its auto lending practices; United wants to renegotiate its co-branded credit card agreement with JPM.

Much of the excitement revolves around the development of scaling solutions that may enable Bitcoin, Ethereum, and other blockchains to reach a truly global user base, writes Nick Spanos,founder of the Bitcoin Center.

The biggest innovators in payments aren't necessarily banks, and that's a problem for JPMorgan Chase, which has such a large client base that every startup sees it as a target.

Online sales and software development are two of the most dynamic categories in the payments processing market, and First Data's acquisition of BluePay will give it inroads into both.

Some credit unions are beginning to offer payment services via wearable technologies, but many say it will take further declines in the pricing of those items before they are widely accepted by consumers or financial institutions.

Facebook Messenger now supports person-to-person payments and customer service for PayPal, expanding the funding choices for repaying friends and family and the channels available to PayPal users sending P-to-P payments.

The store-branded credit card issuer reported that more borrowers fell behind on their payments in the third quarter. Still, net earnings were stronger than expected.

In recent years, there's been a lot of activity in payments M&A, but a few deals stand out — some for their size, and others for their ability to transform both parties in a fundamental way.

The answer is to change the authentication framework altogether with new technologies that employ passive biometrics and behavioral analytics, writes Ryan Wilk, vice president of customer success at NuData Security.

The Wyomissing, Pa.-based firm is forgoing cash offers in favor of a more complicated plan that involves spinning the unit off to shareholders, who will then trade their stakes for shares in a Clearwater, Fla., community bank in a tax-free exchange.

Cryptocurrencies will not gain widespread traction with corporations and governments as long as there remain crucial questions about their volatility, risk, volume and shadowy affiliations.

The move creates more room for developers to work on new payment types and build additional use cases.

Payments company reports double-digit increases in both profit and revenue; card company faces intense competition.