VeriFone Systems

BARCELONA, Spain--MasterCard introduced MasterPass, a new digital commerce platform enabling consumers to use any payment card or enabled device to make purchases online, in-store or on the go.

VeriFone Systems is pulling out of the mobile payment processing segment dominated by Square and PayPal, calling the market "fundamentally unprofitable."

VeriFone Systems CEO Douglas Bergeron said the payment solutions provider may spend as much as $1 billion annually as it seeks acquisitions to expand its footprint in data services and the emerging

Google ( NASDAQ:GOOG ) is collaborating with financial services providers MasterCard and Citigroup to embed contactless payment technologies in Android smartphones, The Wall Street Journal reports.