The U.S. Postal Service defaulted on a $5.6 billion payment for retiree health benefits that was due Monday.Postmaster General Patrick Donahoe told the Senate Committee on Homeland Security and Government Affairs last month that the default was going to happen.

Subway sandwich shops are using Paydiant's mobile payments, offers and loyalty platform as part of the restaurant chain's mobile wallet app, which it plans to launch this year.

The price of Bitcoins listed on the Bitstamp Ltd. exchange plunged as much as 33 percent after charges were unsealed for the operator of an online marketplace for drugs and other illicit goods.

The only way for the payments industry to thwart future hackers is to create a system that can adapt quickly to unanticipated threats – but many companies still struggle with the costs of handling their basic security needs.

SCOTTSDALE, Ariz.—The price tag for new technology can be high, but savvy credit unions are finding ways to remain on the leading edge of financial services delivery without breaking their IT budgets.

The original iPhone revolutionized consumer technology and breathed life into the market for mobile payments — but the newest iPhone's most futuristic feature may signal a growing problem for banks and card networks.

Visa and @UKplc, a U.K.-based electronic commerce services provider, will jointly develop a software-based electronic procurement system that combines business management with payments.

MasterCard is adapting its rewards technology to better suit a world that's swimming in smartphones and abundant in app developers.

CHICAGO – Alliant CU is one of the first financial institutions to incorporate Google’s “Save to Drive,” which it said enables members of the $8-billion credit union to save their account statements, tax forms and other credit union records directly to a secure location on Google Drive with the click of a single button.

CardFlight, a mobile payments hardware and software developer, raised $1.6 million in funding from New York-based ff Venture Capital.

Bad guys are very good at sharing technology and systems that work with other criminal networks — and payments companies can suffer if they embrace the same technology without realizing how it is being exploited.

PayPal is now a payment option for Samsung Apps and Samsung Hub, and a payout option for Samsung Apps developers.

Total System Services plans to deploy FICO fraud prevention technology to protect 1.8 million cardholders in Brazil.

The credit bureau Equifax has joined with a mobile security firm to improve the two companies' fraud protection systems.

The payments industry has a significant security challenge on its hands as too many consumers become "chronic oversharers" of their personal and payment card data, says Ellen Richey, chief enterprise risk officer for Visa Inc.

Visa plans to include more data in its advanced authorization technology to better protect banks' gas station clients.

Several political candidates have begun accepting bitcoins for campaign contribution—but the future of this practice hinges on a Federal Election Commission decision coming by October 28.

HOUSTON – First Community CU has deployed NCR’s APTRA Interactive Teller at its new branch in an H-E-B grocery store.

ROCKVILLE, Md. – NeighborBench, a compliance start-up serving a number of credit unions, has won a U.S. patent protecting aspects of its automated compliance system known as CRISP, or Compliance Risk Information Systems and Platform.

In his first day as Global Payments' chief executive, Jeff Sloan shared his thoughts about how a new security initiative from Visa, MasterCard and American Express could affect his company.