POS and Retail

In opposing restrictions on interchange fees, the financial services industry often claims that 2011 debit swipe-fee reforms are such a huge threat to revenue that even small banks and credit unions below $10 billion in assets, which are exempt from the Dodd-Frank Act rules, feel the pinch.

Bluetooth beacons — small nightlight-sized devices that can communicate with a mobile app as shoppers move throughout a store — may have the same potential for bank branches as they do for mega-retailers like Target Corp.

Verifone's presence in the mobile point of sale market is as old as Square's, but it has had a bit more trouble reaching Square's market. This year, Verifone's strategy will be to move the goalpost — and to chop it up into smaller segments.

E-Commerce companies can't increase transactions by hiring more salespeople for their stores. But there is an excellent counterintuitive strategy: having an excellent return policy.

The mobile point of sale market is getting more and more crowded, even as the market's largest and most established players struggle to find footing.

Square is "betting big on Near Field Communication," but not to the point the company would consider bringing back its own Square Wallet app, CEO Jack Dorsey says.

Square Inc. reported fourth-quarter revenue that topped analysts’ estimates, suggesting the digital-payments business will continue to grow in the face of increasing competition from PayPal Holdings Inc. and Apple Inc.

Retirement was good for Pamela Joseph, former head of U.S. Bank's Elavon business, but not enough to overcome the lure of a high-level executive role at Total System Services, a company rapidly transitioning into a new age of digital payments.

ExxonMobil, the world's largest oil company, now accepts Apple Pay at a majority of its U.S. gas stations.

Obtaining money transmitter licenses in every state has been a lengthy process for WorldRemit, but one that paid off big this month when the company became regulated in California.

The third party wallets, or the “pays” as they are called, are failing to make a splash. Mobile wallets which let you pay any merchant from your smartphone are simply not a reality today.

Financial services technology provider Jack Henry & Associates Inc. is the latest company to collaborate with The Clearing House to speed processing, a move that will substantially increase the number of banks capable of executing faster payments.

In expanding Visa Token Service, the card brand is requiring issuers to stop using alternate personal account numbers in cloud-based mobile payments and instead converting to tokenization.

Financial technology and marketing provider Kasasa has launched a Credit Card As A Qualifier option for its community financial institution customers.

The promise of unlocking some of the "big data" within payments is coming nearer, with new technology expanding the way consumer purchase data is used to shape marketing campaigns.

The idea of banks becoming Token Service Providers (TSPs) is an increasingly relevant move.

A Canadian lawmaker has introduced legislation to establish new ceilings for credit card interchange, and though it has the support of some retail groups, experts say the bill faces headwinds.

Encryption keys are vital to the secure operation of payment acceptance devices. But key transport protocols have not kept pace with the movement toward standardized encryption practices. This adds cost and complexity to payment infrastructure and processes.

Atlanta is flush with payment processors that handle more than 70% of the nation's transactions. These players now plan to expand their reach even further, hoping to make the southern city a fintech hub to rival Silicon Valley and New York.

A new Federal Reserve Bank report opens the door for retailer groups to push again for even lower transaction fees by deflating the argument that small banks have been harmed by the Durbin amendment's reduced debit transaction fees for larger banks.