Payments

Sometimes it just doesn't pay to go it alone. Lyf Pay is one such case of working to create something greater than the sum of its parts.

Cardholders' familiarity with mobile payments rose slightly during the second quarter of 2017, but overall awareness remains below late 2016 levels.

A group of U.K. merchants has joined a lawsuit against Visa and Mastercard seeking damages over interchange fees the card networks levied on credit and debit transactions.

LG is officially throwing its hat into the mobile payments arena with the launch of LG Pay in Korea. Available only on the flagship LG G6 handset, its technology has a lot in common with Samsung Pay, but may not be much of a challenge to its rival if it should come to the U.S.

The millennial generation — defined by some as consumers 18 to 36 years old — has shifted the expectations for how banks and retailers approach payments. Here are some of the trends driven by this tech-savvy demographic.

As with anything high-tech, early predictions held that millennial men would be first to adopt mobile wallets. But two new research studies are casting doubt on the assumptions about the roles gender and age are playing in the mobile payments adoption curve.

Business are still reluctant to automate payments and billing, though that can hurt companies financially, writes Daniel Andrew, a vice president at Corecentric.

Here are some major ways that mobile banking, P-to-P payments and fintech are changing banking.

Boston-based Flywire has made another move to diversify beyond its original cross-border tuition payments niche by acquiring Pace Invoice, a multi-currency invoicing platform enabling clients to more easily link outgoing cross-border invoices with incoming receivables.

Executives at Wells Fargo, SunTrust and PNC insist that credit cards, mortgages and other consumer lines can help pick up the slack as commercial borrowers remain cautious.

FastPay says it will provide digital businesses with a new platform for receiving payments from advertisers and agencies, and also for paying vendors in a timely manner.

Advertising, marketing and payments are changing very quickly and traditional players will need to adapt quickly in order to survive, according to new data.

American Express Co. has struck back against Citigroup Inc., winning exclusive rights to issue credit cards for Hilton Worldwide Holdings Inc. and ending an agreement in which the two banks shared the business.

Visa plans to support 3-D Secure 2.0 in an upcoming enhancement to its Verified by Visa service, giving merchants and issuers real time accurate customer authentication of cardholders and a superior end user checkout experience.

In the elite card sector, issuers have been aggressively honing their rewards programs and offering hefty bonuses to those who switch. It's a golden opportunity to win the long-term spending of a wealthy customer base, but only if banks can keep those customers on board after the sparkle fades from that initial offer.

Processors are investing billions of dollars to build huge menus of tools for retailers that may no longer have the time to work with multiple vendors. These transformations are years in the making, and each investment or acquisition has the potential to dramatically change the competitive landscape.

Singapore’s Oversea-Chinese Banking Corp. (OCBC) will soon expand acceptance of its person-to-person mobile payments app to local merchants.

In this market, Amazon no longer has the advantages it once held over physical booksellers. As grocery stores prove increasingly innovative and tech-savvy, can Amazon viably compete in their domain, where digital expertise may not be enough?

PayPal has worked to build support from retailers and consumers, positioning it well in the competitive e-commerce game, writes Lauren Freedman, senior vice president of digital strategy at Astound Commerce.

Pizza Hut has played a large role in building China's middle class. It's also a major cog in Ant's investment in Yum China.