In an era where businesses are increasingly focused on cloud computing, Citigroup is turning instead to souped-up hardware in the form of IBM's newest z13 mainframe, which it says can help it better deal with the explosive growth in mobile and online transactions.

PayPal is revamping its lineup of mobile point of sale offerings, expanding developer tools and adding EMV in the U.S. But its new support for Microsoft devices may have the most impact as it pursues merchants that can already get payment capabilities elsewhere.

In a push to get commuters in Athens, Greece away from paying cash for public transit tickets, the mobile ticketing provider Masabi will add MasterCard's MasterPass as a payment option.

EMV cards are moving payments security in the right direction. But if hackers tamper with the hardware or associated software on merchants' EMV-enabled equipment, they can silently spirit off customer data.

Alibaba Group Holding Ltd. is in talks to buy a minority stake in India's One97 Communications Ltd., owner of an online payments processor, according to people familiar with the matter.

Western Union has begun offering a service that allows U.S. residents to send money to Mexican bank accounts.

The holding company for 15 banks, which is approaching $20 billion in assets, has been testing cardless ATM transactions since the summer of 2013. Now, it is expanding the capability to dozens of machines — marking it the first institution in the U.S. to take the technology, powered by the vendor FIS, into production.

Quietly, banks have agreed to pay hundreds of millions of dollars over the last few years to settle a slew of class actions alleging they made illegal phone calls to U.S. consumers.

It’s taken the U.S. years to embrace, but the migration to Chip and PIN payment technology and its associated “liability shift” will finally happen in 2015.

Education payments company peerTransfer has grown quickly by providing a specialized service to a specific market, but it may be time for it graduate to new lines of business.

Processor First Data is working more closely with long-time partner Underwriters Laboratories to speed up the EMV testing process and certify the chip-card technology in the U.S.

Payment companies and merchants are taking the wrong approach to cybersecurity if they address problems only after they arise.

The White House rolled out several more cybersecurity provisions on Tuesday, including a proposal to better coordinate information sharing between the government and the private sector around cyberattacks and emerging threats.

The White House rolled out several more cybersecurity provisions on Tuesday, including a proposal to better coordinate information sharing between the government and the private sector around cyberattacks and emerging threats.

Government officials in Gujarat will partner with MasterCard to pursue a goal of being the first state in India to have a digital payments system.

Azimo has launched a digital transfer service to the Philippines, the fourth largest recipient of cross border remittance.

Banks can be compliant with cybersecurity guidelines and still remain vulnerable to massive liabilities. One case in point: many financial institutions carry mandatory insurance policies that could leave them on the hook for six-figure losses from corporate account takeovers.

In taking on contingent acquiring liability, merchant acquirers risk substantial exposure to financial losses in the event of client insolvency.

While many agree that usernames and passwords should give way to more advanced identity management, progress toward this goal has been extremely slow.

A new push by President Obama to tighten cybersecurity at banks and other businesses could help light a fire under some firms that have historically been slower to react in the wake of a data breach and help financial institutions dealing with a tangle of confusing state laws.