The collaboration between financial institutions and technology firms runs deep, but banks' recent criticism of lax regulatory oversight for nonbanks reveals fissures.

Many different data security technologies exist, but the payments industry “does not have what it needs for a global standard,” said Marianne Crowe, vice president of the Federal Reserve Bank of Boston.

South Korean purchases via Samsung Pay have topped the equivalent of $30 million U.S. as of Sept. 20, according to the first figures released by Samsung.

Silicon Valley Bank and MasterCard are accepting applications for the fourth installment of their startup accelerator program Commerce.Innovated.

Verifone has entered an agreement to use Barclays' Pingit mobile payment app as part of Verifone's PAYware Ocius mobile gateway. Initially, this deal will support only e-commerce sites but Barclays said the pair may bring the technology to the physical point of sale in a later phase.

Competition is heating up among mobile wallet makers, but not everyone is racing toward the same goal. Many are starting to look past Near Field Communication-based contactless payments, championing newer technologies as well as reviving older business models.

Canadian credit union cooperative Desjardins Group is offering mobile credit and debit card readers for small businesses.

The payments industry's next big challenge may be to get out of its own way and allow innovation to unfold in an open and collaborative manner.

The Faster Payments System in the U.K. and the New Payments Platform in Australia serve as excellent models to emulate, but it is not likely that the U.S. can create similar systems.

Once placed inside of payment cards, computer chips can catalyze uses well beyond merchant security, argues MasterCard's Carlos Cornejo, who adds the card network plans to expand card utility through the mix of chips and tablets.

DD4BC, a group that threatens to knock out corporate websites unless it is paid off in bitcoins, has expanded its denial-of-service attacks on banks.

Georgia’s Own Credit Union has expanded its relationship with Fiserv by selecting DNA and more than a dozen additional solutions to support the $1.9 billion credit union’s growth in new commercial services and lending markets.

Prosper Marketplace, one of the nation’s largest marketplace lenders, has agreed to purchase the consumer finance app maker BillGuard.

A task force convened by the Federal Reserve has made substantial progress in its first few months, but the path to real-time payment in the U.S. is still littered with challenges.

Small merchants may not have a full grasp of EMV chip card acceptance at the point of sale as the Oct. 1 liability shift nears in the U.S., but e-commerce merchants are building layers of defense for the expected spike in online fraud.

A task force convened by the Federal Reserve has made substantial progress in its first few months, but the path to real-time payment in the U.S. is still littered with challenges.

Mobile and e-commerce payments provider Loviit has expanded to the United Kingdom, where it hopes to reach merchants with global ambitions.

DD4BC, a group that threatens to knock out corporate websites unless it is paid off in bitcoins, has expanded its denial-of-service attacks on banks.

Canadian credit union cooperative Desjardins Group is offering mobile credit and debit card readers for small businesses.

Atlanta-based bitcoin payment processor BitPay has suffered a phishing attack costing the company $1.8 million.