MasterCard issuers had to cast at least 90% of their votes in favor of the Target settlement by May 20, and not enough did. CUs and banks will now fight for a better deal.

The proposed $19 million settlement to cover financial institutions' losses from the Target data breach in 2013 has failed, and financial institutions believe public data security fears provide a strong hand in future talks.

Canada’s Beck Taxi has launched a new app that accepts PayPal and card payments and is designed to compete with Uber and Lyft in Canada’s largest city.

Online payments are an unintended soft spot resulting from the EMV point of sale migration, creating an opening for security technology vendors to combat the emerging cybercrime threats.

If there was any question about the need for Congress to modernize our nation’s data-security laws, the recent settlement negotiation between Target and MasterCard should put all doubts to rest.

Hundreds of banks are supporting Apple Pay, but the cost is sparking a counter movement toward financial institutions operating their own wallets.

The Fast Identity Online Alliance has established its FIDO Certified testing program for products and services that support the alliance's security specifications.

Investor communications company Broadridge Financial Solutions has entered into an agreement with Thomson Reuters Lipper to acquire its Fiduciary Services and Competitive Intelligence unit.

Startup CP Security Inc. is taking on tech giant Apple in the digital and mobile payments ring, building what CP Security calls network fabric that will bolster payments security and reduce expense.

It's hard to find a more competitive mobile wallet market than India, with 1.3 billion consumers and multiple viable wallet apps, including Freecharge, Paytm, Citrus Payment, Oxigen, Mobikwik, Zaakpay and ItzCash. But this crowd is competing for a consumer base that favors cash for all transactions.

James Varga, chief executive of miiCard, discusses how today's backward identity-management system requires people to share more information than is really necessary just to prove who they are.

For all the excitement about the blockchain's potential to shake up the financial industry, few people understand how it works. The really revolutionary part of the blockchain process is how miners manage to keep records of transactions accurate and tamper-proof.

Banks are starting to warm to the idea of automating supply chain finance to speed up payments that have traditionally been paper-based.

Silicon Valley Bank, which has found a niche working with payments and fintech startups on its home turf in California, is paying more attention to the innovation taking place outside the U.S.

Mobile wallets and digital currencies are providing an increasingly viable alternative to traditional card payments, prompting Visa Inc. to present a new value proposition to merchants.

While young consumers do not have a past with legacy payments methods and are most open to new innovation, most new payment systems are not adequately focused on the youth market.

ATMs have long been a target of fraudsters hoping to steal a large amount of card data from unsuspecting consumers, and the problem looks like it can only get worse before it gets better.

Former Citigroup executive Deborah McWhinney has joined the board of IHS, a provider of information on markets and industries worldwide.

Six of the world's biggest banks will pay $5.8 billion and five of them agreed to plead guilty to charges tied to a currency-rigging probe as they seek to wind down almost half a decade of enforcement actions.

WePay has pushed its tools for international e-commerce payments primarily to U.S.-based companies, and the vendor is now looking to extend its reach abroad through a fresh infusion of funds.