Payments

As retailers, banks and technology companies continue to suffer data breaches, issuers and merchants need to take extra care when selecting payment vendors.

Facing security challenges at its member banks and competition from other tech providers, the Society for Worldwide Interbank Financial Telecommunication [Swift] plans to put its best foot forward in 2017.

Just weeks after it shook up its executive ranks and suspended efforts to pursue new customers, the New York-based business lender confirmed Friday that it is eliminating dozens of jobs.

Canada’s Scotiabank waited to launch its own HCE-powered mobile wallet last month, and the payoff came when thousands of consumers downloaded the app with zero advertising.

Credit One Bank in Las Vegas, Nev., a credit card specialist, plans to almost double its workforce over several years to support business growth.

The path to success is almost never smooth, and many well-known companies have made expensive mistakes along the way. Here are some of the ideas that are no longer around but may never be forgotten.

Wells Fargo continues to sustain damage from consumers who were put off by the company's phony account scandal.

Online shoppers can expect fraudsters to be at the height of their creativity during the 2016 holiday season.

Bluetooth beacons, which communicate with consumers' apps as they enter and leave stores, have been bouncing around the retail industry for a few years looking for the right combination of foot traffic, product and customer experience.

American Express Co. hopes to add star power to its high-end Platinum credit card by bringing musician and style icon Pharrell Williams in as the brand’s first-ever creative director, as competition in the luxury credit card segment intensifies.

Banks are often taken for granted in digital wallets, treated as a "dumb pipe" for funding another account. PayPal is working to provide a more welcoming atmosphere with deals recently announced with Citigroup, FIS and two other banks.

By making tokenization available on each other's digital wallets, Visa and Mastercard are addressing the security concerns of merchants who are happy to accept both brands but nervous about how their wallets can be misused.

Consumers have long had options to pay for high-value purchases through monthly installments, but payments providers — from PayPal to Mastercard — have typically focused on other ways to lift purchase volume.

Bank of America's forthcoming mobile app update will include personal financial management features.

Payments are inevitably merging with social media, but the mix comes with a clear and very public risk if not handled correctly.

By now, the term "omnichannel" seems to have lost some of its buzz in the payments world. And that’s because banks are learning that the process of creating a seamless cross-channel experience can't be summed up so succinctly.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

As online shopping and card fraud increase, startups offering easy-to-use “burner” cards could see strong traction.

Several community banks are turning their bright ideas into cold hard cash by selling or licensing products to other institutions.

The payments messaging network Swift has told its client banks that the threat of cyberattacks "is very persistent, adaptive and sophisticated — and it is here to stay."