Upstarts armed with digital technology are rewiring the money-transfer business, but the time-tested agent model enjoys key advantages. The old and new just might meet in the middle. In some respects, agent-based money-transfer providers are like what cash and checks were to an earlier generation of credit and debit card …

Rezzcard, a provider of payments services for tenants in affordable housing, has teamed with processor JetPay Corp. to offer a Visa-branded prepaid card, called the MAC card, as well as a mobile app, to tenants living in public, Section 8, tax-credit-subsidized, and workforce-housing developments. The Rezzcard app enables users to …

In the last 10 years, the electronic movement of money has become easier than ever. More people are banking online, paying bills electronically, and making payments with their mobile devices. In fact, one-quarter of all smart-phone users have made a mobile payment in the last 12 months, and half of …

With Google Inc.’s announcement of Android Pay Thursday, the first major direct rival to Apple Inc.’s Apple Pay came into focus. While other Apple Pay competitors are already in the market or soon will be—handset giant Samsung Electronics Co. Ltd. and the retailer-controlled Merchant Customer Exchange LLC are expected to …

Already found liable for its role in a telemarketing scheme that defrauded consumers, Universal Processing Services of Wisconsin LLC, doing business as Newtek Merchant Solutions, now will have to pay its share of a $1.7 million fine, a U.S. District Court judge ruled last week. The Federal Trade Commission in …

Google Inc. is betting its latest mobile payments incarnation—Android Pay—will work better than Google Wallet did. Announced Thursday at Google I/O, its developer conference, Android Pay is poised to compete directly against Apple Inc.’s Apple Pay, PayPal Inc., and the upcoming Samsung Pay for a piece of the burgeoning mobile-payments …

Discover Financial Services disclosed Thursday that it will enhance its company-wide anti-money laundering procedures under an agreement it signed with the Federal Reserve Bank of Chicago. The agreement does not call for fines. The pact follows by 11 months a consent order that Discover’s Delaware-based bank subsidiary, Discover Bank, struck …

By John Stewart Few tactics lend instant credibility like adding heavy-hitter names to a company’s board. On Wednesday, the 5-year-old Bitcoin digital currency, and at least one startup offering Bitcoin wallets, gained a few notches on the credibility index when Xapo GmbH said Dee Hock, John Reed, and Lawrence Summers …

In a time when consumers are using multiple ways—smart phones, tablets, stores, and Web sites—to shop, they are also using new ways to pay. Now, some are choosing to shop using Bitcoin, the best-known virtual currency. Some merchants, like Reeds Jewelers, accept Bitcoin primarily because customers want to use the …

A proposed $19 million settlement forged by MasterCard Inc. and retailer Target Corp. to compensate MasterCard issuers for fraud and other expenses they incurred after Target’s 2013 data breach failed to win approval from issuers representing 90% of eligible accounts that the so-called alternative-recovery plan needed by a May 20 …