Target, one of the largest retailers in the United States, has agreed to pay Visa close to $70m in a settlement regarding the 2013 data breach at the retail chain.

The latest iOS version of the Square Cash app allows Apple Watch users to make person-to-person (P2P) payments, using virtual stacks of cash, in just a few taps of the device.

First Tech Federal, a California-based credit union, will undergo a pilot programme with MasterCard, whereby First Tech employees will use facial recognition software to process transactions.

Payments UK, the country’s new payment trade association has welcomed Yorkshire Building Society and Earthport, a payment service provider to its growing list of members.

Revel Systems, an iOS-based point-of-sale (POS) payment company, has gained nearly $14m in its latest Series C funding round. The firm now claims to be worth approximately $500m.

Parents around the world are purchasing new uniform and equipment for their children as they head back to school. With mobile playing a huge role in today’s shopping world, this infographic reveals how many people will be using a smartphone to complete their back-to-school shop.