A professor is suing the payments company Square over charges that he was shut out of the startup he says he helped create.

The economy likely grew at a 3.2 percent annualized rate in the fourth quarter as U.S. consumer spending climbed the most in three years, according to the median forecast of 87 economists surveyed by Bloomberg.

The Consumer Financial Protection Bureau on Wednesday initiated an administrative proceeding against PHH Corp. and its affiliates, alleging PHH harmed consumers through a mortgage insurance kickback scheme that started as early as 1995.

Acquirers and independent sales organizations can generate more revenue by closely studying what security levels their merchants need, according to a new survey.

Payline Data wants to add smaller businesses to its roster of merchant services clients, and figures "no swipe" mobile payments is good way to get in the door.

Visa will leverage SAP's hosted transaction technology to encourage more automated corporate payments, which are still more paper-based compared to consumer payments.

Online payment provider Acculynk is offering online merchants a real-time service to make payments directly to the debit card account of small businesses or individuals.

Amazon.com is developing a person-to-person payments system that would compete against the likes of PayPal, according to a job listing on the e-commerce company's website.

The recent spate of retailer data breaches demonstrates the need to embrace security methods such as EMV-chip cards and tokenization to protect transactions, Visa CEO Charlie Scharf told investors on Jan. 30.

Credit unions cannot afford to wait on EMV, according to a panel of cards experts.

Merchants can't pass the blame for data breaches onto financial institutions because protecting consumers is a shared responsibility where both sides have to meet their responsibilities.

PayPal says it did not divulge credit card information from a customer who contends PayPal exploited in a scheme to force him to give up his Twitter handle, "@N."

Starbucks CEO Howard Schultz is changing his responsibilities to place a greater emphasis on mobile payments and other digital initiatives.

Starbucks CFO Troy Alstead has been promoted to become the company's chief operating officer, a new position, in a move meant to place more emphasis on the coffee company's digital and mobile plans.

Total System Services CEO Phil Tomlinson took time out from discussing record revenue during the payments processor's Jan. 28 earnings call to proclaim his company safe from the slate of recent data breaches that have afflicted Target and other retailers.

AUSTIN, Texas -- In 2013 the average community financial institution grew its mobile banking usage base by 4.3% per month, according to new research.

Richard Cordray, the Consumer Financial Protection Bureau's normally unflappable director, reacted angrily Tuesday to suggestions by lawmakers that he and his agency do not care about borrowers who purchase manufactured housing.

Ribbon is extending its payments services beyond merchant acceptance to include person-to-person payments.

Electronic payment and banking technology provider ACI Worldwide is working with Integrated Research to develop new performance management software.

Oberthur Technologies is offering its MoreMagic mobile wallet technology to the unbanked population of Myanmar through the country's Myanmar Mobile Money Co. Ltd.