Alibaba Group Holding Ltd.’s finance affiliate has completed a record $4.5 billion equity fundraising round, according to two people familiar with the matter.

Nearly half of bank data security incidents in 2015 involved compromised web applications, according to a closely watched annual report from Verizon released Tuesday.

Bitcoin and similar digital currencies are often portrayed as enablers of faster payments, but there are other ways to execute fast international transfers.

United Solutions Company, a technology CUSO that hosts core processing and other tech services for credit unions, on Monday said three credit unions signed contracts to convert to the OnCore XP2 core processing system.

When you make a payment on a website using a HTTPS connection, Transport Layer Security (TLS) encryption is what makes your payment transfer over the public internet secure. Unfortunately, it's riddled with security flaws.

China's sheer size is an obvious attraction for companies involved in global payments and commerce, but the country poses hurdles that even giants like MasterCard and Visa find vexing.

Cutting-edge jobs — think chief innovation, strategy and data officers — are on the rise at banks and other lenders, and they are drawing free-thinking, tech-savvy candidates from inside and outside of financial services. American Banker asked several of them to recommend a book or other piece of writing that helped them tackle jobs that often were created from scratch.

Hypur, a startup seeking to help banks serve businesses deemed high compliance risks (e.g. marijuana), has recruited a former Department of Justice lawyer to help build credibility. Its signature product: a payments platform to replace cash transactions.

COLORADO SPRINGS, Colo. — Aventa Credit Union recently launched its all-new website, which it said features a "fresh, modern look," improved functionality and enhanced content.

Multi-factor authentication will be required for administrative access to card data and systems for Payment Card Industry data security compliance this week.

JPMorgan Chase has added fingerprint authentication for customers on Android devices.

It didn't take long for debit card issuers affected by the Durbin amendment fee caps to cut back or eliminate rewards programs to recoup costs. Issuers now engaged in the increasingly competitive credit card rewards and loyalty environment may soon have to face that same decision.

The breach experienced by Mossack Fonseca did more than expose sensitive tax documents for global figures in politics and business. It's also a warning sign for any company that manages large amounts of financial and transaction data.

Community banks are grappling with a quickly changing operating environment, but they might have some practical advantages over large banks in building partnerships with fintech firms, and those relationships could give them the competitive edge they seek.

MasterCard will vault itself deep into the faster payments landscape and position itself better to compete with Visa in the U.K. if a £1 billion acquisition of VocaLink unfolds as reported on a U.K. news site.

Plastiq has launched an iPhone app that allows consumers in the U.S. and Canada to snap a photo of their bills to pay them.

There's plenty of criticism of the U.S. chip card migration, including its pace, the pressure on merchants to upgrade and the lingering confusion over how to use the cards. But Visa painted a more bullish picture of the migration.

Most modern mobile wallets didn't start out in their current form. Some didn't even start out as mobile apps.

Issuers still have a choice of whether to require PIN authentication for EMV-chip cards, but David Nelms, chairman and CEO of Discover Financial Services, says the chip-and-PIN path increasingly makes the most sense for U.S. payment cards going forward.

We have been clear from the start that the date fixed by the card networks for liability shift was far too aggressive and essentially resulted in a Christmas present to card issuers.