POS and Retail

Citigroup Inc. mistakenly sent e-mails to some active Costco Wholesale Corp. members telling them their wholesale club membership had lapsed and that their cards would be canceled, bringing a fresh headache to the new partnership.

As it charts a long-term digital payment strategy, TSYS has hired Karim Ahmad, a management consultant with a background in financial technology, to be as head of global product and innovation.

This week Minneapolis-based U.S. Bancorp is launching a new consumer account that's designed to appeal to millions of Americans shut out of the mainstream financial system.

The promise of faster EMV technology is a welcome reprieve for many ISOs who have grown weary of listening to merchants gripe about the snail's pace of chip card transactions. That reprieve, however, may not be so quick in coming.

With all the innovation and momentum around consumer wallets and payments, payment security is a huge concern to banks, merchants, issuers, payment networks and any new wallet provider.

The shifting attitude of Asian consumers such as Chiu is upending the economics of the credit-card industry, and banks like Citigroup Inc., HSBC Holdings Plc and Standard Chartered Plc are taking note. The banks, which increasingly rely on the region’s swelling number of affluent people to drive profits, are slashing the number of card products they offer in Asia and focusing instead on getting a smaller range of cards adopted for online payments.

After the whirlwind of payments innovation in 2015, 2016 has felt rather stagnant in comparison for many payment technology enthusiasts. What is the story behind this lull and what does it mean for the future of Fintech?

They may seem like a relic from a bygone era, but dial-up terminals have shown surprising staying power in today's payments ecosystem.

Over the last few weeks, the expansion of digital person-to-person payment platforms and the resulting growth in consumer adoption has garnered a lot of attention.

Phillips 66 is the third major merchant to come aboard for JPMorgan Chase & Co.’s upcoming launch of Chase Pay—alongside Starbucks and Shell Oil—and the byproduct of this deal is an overhaul of the gasoline and convenience retailer’s existing, relatively bland apps.

Grocery stores are well-oiled machines, with the placement of every product carefully researched to guide the shopper from one item to the next. But even this process has some room for improvement.

Finding the right mPOS solution can be difficult. Demanding flexibility and device agnostic technology from partners can go a long way toward making a successful decision.

Smart contracts, which automate parts of payment agreements, are the key to using blockchain technology in complex financial transactions. However, there are still open questions and concerns about how smart contracts operate in the real world and whether they can be trusted.

Nostalgia no doubt helped drive the recent Pokémon Go phenomenon, but another factor — one that will become critical to retailers’ future success — was also at play.

Even though studies are showing that an increasing number of users are giving the mobile wallet technology a try, only a few are reported to be using it on a continuous basis.

At most merchants, mobile wallets have been a solution in search of a problem. But at the pharmacy, every customer already has a problem — possibly several problems — they want to address before they even think about how they want to pay.

Two years after eschewing Apple Pay and NFC, CVS is integrating payments, marketing and prescription ordering in a single bar code-enabled mobile app, replacing a customer experience that currently relies heavily on time-consuming interactions with staff.

From the buzz in the technology press over the last two weeks, one might think that end times are nigh in the world of authentication.

Walmart Pay has been available nationwide at Walmart stores for several weeks, but consumers haven’t taken much notice — a foreboding sign for those hoping for a breakthrough with merchant-branded mobile payment apps.

Square Inc. is joining with restaurant technology startup Upserve to offer loans to eating establishments, extending credit for the first time to businesses that operate outside of its own payments processing system.