Suffolk Bancorp in Riverhead, N.Y., has hired Fiserv as core processor and it plans to record a $1.4 million charge to cover the vendor switch.

One of the more unusual financial crime stories of the year concerned two men who were charged with operating an illegal Bitcoin exchange through a now-shuttered New Jersey credit union.

Apple Inc. grabbed the early worm in mobile payments with Apple Pay's late 2014 launch, combining an intuitive mobile payments system for consumers with the buy-in of major banks and merchants. But the tech giant’s first-mover advantage never seemed to materialize.

Suffolk Bancorp in Riverhead, N.Y., has hired Fiserv as core processor and it plans to record a $1.4 million charge to cover the vendor switch.

Valve Corp. has agreed to work with UOL BoaCompra to accept payment on its online gaming platform, Steam, in Colombia and Peru.

Privacy advocates were appalled by the cybersecurity act Congress passed in the omnibus spending bill, with its abandonment of data-privacy provisions that existed in earlier versions. Now consumer and business-client privacy is at the discretion of the banks and other private companies.

So, here we are, living in the “future”…many of us now finally have chip cards; the G20 nations are all in the post “liability-shift” world; we’re all expecting to be living in the new paradigm.

Of all the companies in the payments landscape, few have changed as much as PayPal has in the past year. And heading into the new year, the newly independent alternative payments company is showing no signs of slowing down.

The Federal Housing Finance Agency appears to be on course to decide next year whether Fannie Mae and Freddie Mac should update their credit scoring models.

Privacy advocates were appalled by the cybersecurity act Congress passed in the omnibus spending bill, with its abandonment of data-privacy provisions that existed in earlier versions. Now consumer and business-client privacy is at the discretion of the banks and other private companies.

The concept of a high-tech multipurse card with a built-in display may seem out of place in a world where many of the same functions can be handled by mobile wallet apps, but some entrepreneurs remain committed to the idea of a futuristic plastic card.

ParkJockey plans to integrate PayByPhone's software into its mobile parking application.

Revel Systems has opened a new office in London to facilitate its growing business in Europe, the Middle East and Asia.

In an effort to expand its digital banking platform, 1st Advantage Federal Credit Union added Fiserv's Mobiliti mobile banking, Popmoney person-to-person payments and remote deposit capture.

NACHA's adoption of same-day payment, or ACH (Automated Clearing House) payment - allows businesses and customers to benefit from receiving same-day transaction processing, though with security risk.

The Internet of Things is ready to take off in modern retail in the coming year, spurred by a growing connection to consumer payments.

The Federal Housing Finance Agency is giving private mortgage insurers some hope this holiday season that they might get a change to offer deeper mortgage insurance on Fannie Mae and Freddie Mac single-family loans.

In an effort to expand its best-in-class digital banking platform, 1st Advantage Federal Credit Union here added Mobiliti’s mobile banking, Popmoney’s person-to-person payments and remote deposit capture.

Target Corp. is tight-lipped on the details of its proprietary mobile wallet, but reports of the retailer's plan for a software-based wallet app early next year are adding to the concern that the mobile wallet market is becoming oversaturated with options too early in its lifecycle.

Bank innovation has tended to focus on retail customers, but expect more technology for commercial customers in the coming year as those clients deman products that are easy to use and help them run more efficient enterprises.