The New York Department of Financial Services has released proposed framework for its much-anticipated BitLicense. Though the agency describes its proposal as a balanced approach that does not stifle innovation, its rules might be considered too strict for many companies.

MasterCard will add support for in-app purchasing to its MasterPass digital wallet next month, and has already signed up customers to deploy the feature.

Billtrust, a provider of outsourced billing services, has acquired Open Scan Technologies, an automated business payments company.

WEX, a corporate payments company, has closed its acquisition of Evolution1, a Fargo-based firm that produces software to manage health care transactions.

WASHINGTON — The Consumer Financial Protection Bureau issued a proposal Wednesday that would allow it to publish more information about individual complaints made by consumers about financial companies.

Getting retailers to add mobile payments – or even ban credit cards in favor of mobile – is not impossible. But it just might be easier to get merchants on board with mobile if they haven't even accepted their first payment.

There have literally been dozens of tablet-based point of sale solutions introduced to the retail market and with reason. The demand for a better point of sale software solution has been increasing rapidly.

eBay's two most "extraordinary events" from the first half of the year were a now-resolved conflict with activist investor Carl Icahn and a cyber-attack that created financial headwinds. It is not yet actively searching for a new PayPal president.

IBM is creating new apps for banks their employees can use on iPhones and iPads. In doing so, Big Blue will help banks push legacy applications out to new devices, making many types of work possible on Apple devices.

Visa introduced a new digital payment system July 16 called Visa Checkout, replacing the V.me digital wallet that formally launched in 2012. The idea is to move away from the "digital wallet" concept and convey a message of simplicity.

Payza is adding new features with the goal of helping merchants improve their conversion rates.

Western Union has appointed Robert W. Selander, former chief executive of MasterCard, to its board of directors. Additionally, Western Union named Raj K. Agrawal, the company's interim chief financial officer, as permanent CFO and executive vice president.

More merchants are interested in accepting payments on tablets and phones, and they have many choices of providers. What are banks and vendors doing to set themselves apart?

More merchants are interested in accepting payments on tablets and phones, and they have many choices of providers. What are banks and vendors doing to set themselves apart? (Image: ShutterStock)

As the frequency and cost of security data breaches increase, credit unions must be prepared for more regulatory scrutiny in addition to more cyber attacks.

Personal financial management (PFM) services are falling short of their potential because financial institutions aren't collecting enough data on payments to property categorize purchases.

Powa is reaching out to individual software vendors around the world in an attempt to accelerate integration of its point of sale tools with local mobile apps.

WorldRemit is targeting mobile wallets in emerging markets in a bid to eventually set a standard for international mobile money transfers.

Australian supermarket Coles is launching a tap-and-go mobile wallet to customers this week.

Twenty years ago, the decentralized open architecture of the Internet was inspiring entrepreneurs worldwide to build products and services while skeptics rolled their eyes and wondered why anyone would want to use this slow, rudimentary, obscure technology. Jeremy Allaire, a veteran of the early Web days and now the CEO of startup Circle Internet Financial, sees parallels between that era and the current state of digital money.