POS and Retail

CHICAGO -- At some point, the Federal Reserve Bank's three-year journey to create a faster payments system in the U.S. will run head long into one of its major challenges -- making sure it can operate within all networks.

Nok Nok Labs is upgrading its mobile device risk-based authentication software to improve support for biometrics and other alternatives to passwords.

According to recent data, only 21% of retail executives are more confident now than a year ago about their company’s ability to deliver omnichannel services, while 45% said their efforts are not advancing fast enough.

Square Inc. tried to sell its food-delivery business, Caviar, but couldn’t find a buyer willing to pay enough, according to people familiar with the matter.

Vincent Wang needed new jeans and a coat just before classes began this semester at the University of California, Davis, where he studies nutrition. Rather than trek several miles off campus to the nearest Target or Walmart, he ordered the clothes from Amazon.com Inc. and retrieved them from new Amazon pickup lockers right next to the university store that sells Aggies T-shirts and hoodies.

In an age in which organizations such as Swift are subject to attack, traditional perimeter security defenses are no longer enough to stop attackers from getting into the system and stealing valuable information.

Arguably the biggest shift was that of Avid Modjtabai, the head of consumer lending, who has been named chief of the new payments group focused on digital and online offerings, investments in research and development and strategic partnerships.

As more merchants worry about EMV card slowdowns ahead of the holiday shopping season—when bottlenecks at checkout points could lead to many lost sales—more companies are coming up with their own ways to slash EMV payment times.

Even as mobile wallets continue to struggle with consumer adoption, yet another iteration of payments technology is rapidly coming over the horizon: the Connected Car.

Preventing fraud across multiple purchasing channels is the next major paradigm shift for bank card issuers and merchants.

Kohl's department stores have joined the mobile wallet movement, offering customers the option to link their closed-loop Kohl's Charge cards to the company's mobile app to make mobile payments and redeem rewards.

Online fraud is on the increase, but the good news is emerging technology can protect digital identities.

Harley Financial Services has launched business payments software HarleyPay for its merchant clients through provider linked2pay's Bank Centric Payments platform.

Visa Inc., MasterCard Inc. and American Express Co. lost an early round of a lawsuit alleging they colluded to pin liability for fraudulent transactions on merchants who didn’t meet a chip-reading technology deadline.

Blockchain and payments have come to go hand-in hand since it emerged to power bitcoin, but the real pain financial institutions are looking to solve is enhancing global currency transactions and shortening settlement cycles.

Consumers are becoming increasingly aware of the double-edged sword that comes from broadly sharing their personal data.

Costco Wholesale Corp. reported fourth-quarter earnings that beat analysts’ estimates, even as falling grocery prices cut into its sales growth.

Mobile wallets are poised to dramatically change the payments landscape, but what is holding them back from seeing more rapid adoption?

Generation Z, the generation following what is commonly referred to as the Millennials, has only just formed its identity, yet its older members are already preparing to enter the workforce and take part in modern commerce.

It looks like the U.S. market will finally join a large number of other countries and offer real-time payments—but can ubiquity be achieved?