Samsung Pay has launched today in China trying to get a better position from its rival, Apple Pay and Alipay. Shoppers who use Samsung smartphones compatible with the company's newly launched mobile payment service will be able to pay for their purchases even without using a debit or credit card.
New capital rules that penalize big banks could add pressure to JPMorgan Chase & Co (JPM.N) to break itself up to boost its stock price, a prominent stock analyst from Goldman Sachs Group Inc (GS.N) wrote on Monday.
Brazilian retailers are expecting their worst Christmas season in a decade and signs are pointing to an unhappy New Year ahead.
U.S. President Barack Obama signed an executive order on Friday to beef up security measures for federal credit cards, and urged banks and retailers to follow suit in an effort to combat the growing threat of identity fraud.
Target has invested $100 million to secure its credit and debit card payment facility and changing the magnetic stripes feature to chip-and-PIN terminals after 40 million cards were hacked.
Wells Fargo will release credit cards issued on American Express in 2014. However, industry observers see this as a potential move to rise above competition.
Target has sold its credit card portfolio in the U.S. to TD Bank to pay debts.
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