Western Union Co., the world's biggest money-transfer business, said second-quarter profit fell 27 percent as revenue from transaction fees dropped and expenses climbed.

Visa and MasterCard have agreed to share their common application identifier technology, enabling EMV-chip based debit transactions to originate from a single application while allowing merchants a choice of networks for routing.

In the payments industry, point of sale technology has become the "hottest area" of interest for companies considering an acquisition, according to the investment bank Berkery Noyes.

Leaders in emerging payments and virtual currency have formed a committee to establish a self-regulating body to ensure regulatory compliance as the marketplace changes.

MOOSE LAKE, Minn. – Lake State CU is opening its first branch in Duluth that will have no teller windows and no tellers on-site, but instead will offer interactive video teller machines.

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Bitcoin, a decentralized virtual currency, has been declared illegal in Thailand. Members of the Foreign Exchange Administration and Policy Department made the determination at a meeting on July 29 in the Southeastern Asian country, according to a Bitcoin exchange operator in attendance.

Commuters in San Francisco can now use their transportation-fare card to pay for parking in city garages.

Visa and MasterCard may differ on their support of chip-and-PIN in the U.S., but they are of one mind in their approach to Australia.

In the crowded mobile point of sale market, One Step Retail Solutions is making a name for itself by providing its Teamwork Retail software to rap artist Jay-Z for his Rocawear clothing stores.

India's consumers have everything they need to move away from cash—they're just waiting for the right catalyst, according to Visa's Sam Shawki.

Merchant Customer Exchange, a mobile wallet initiative that involves more than 50 retailers, is coming into focus. Though the one-year-old MCX has yet to release a product, it has attracted key people and partnerships that demonstrate to the payments industry that it is a serious contender.

Davis and Henderson's planned $1.2 billion acquisition of Harland Financial Solutions marks the Canadian technology developer's biggest push into the U.S. market and its first foray into payments processing.

Onebip, a mobile bill payment company owned by Neomobile, launched an IP billing system in Turkey, allowing consumers to pay for online purchases through their broadband bill.

Spanish banks' profits were gutted last year as they struggled with the bursting of a decade-long property bubble. On Thursday, a trio of Spanish banks again reported rising bad debts, although the rate of increase showed a slowdown in the second quarter.

Viableware wants to differentiate its restaurant payment system by targeting high-end establishments with technology that doesn't erase the personal interaction between patrons and staff.

Despite all the attention being paid to mobile banking and mobile payments, one person believes that there won’t be a dramatic increase in mobile usage within the next five years.

Credit and debit cards are transitioning over to the EMV standard at U.S. FIs, but one person called EMV a solution to a problem that doesn’t actually exist in the industry.

Global Payments Inc. executives highlighted its strategic partnerships with PayPal Here in the U.K. and CaixaBank in Brazil as vital to its business in the coming year.

Payroll card provider ADP is updating its technology to provide greater visibility into users' financial health at a time when payroll cards face fresh scrutiny over costs to users.