BIRMINGHAM, Ala. – Alabama Telco CU said it has teamed with First Data Corp. to provide merchant services for point-of-sale payment solutions, terminals, loyalty programs, gift cards and payroll cards.
The $580-million Alabama Telco also is offering savings and accounts, money markets, certificates of deposit, loans, credit lines and a Visa credit card.
“It is our goal to make banking with us smart and easy,” said Alabama Telco business development officer Julie Thomason.
The first U.S. bank to offer an exchange-traded product tied to bitcoin saw $34 million in trading on the first day.
Oil rights can be a surprisingly illiquid asset. A fintech called Frontlands is hoping to change that by offering a credit card for the owners of oil wells and other natural resources.
The fintech rolled out Intelligent Money Movement, a treasury service that combines payments, liquidity management and disbursements as it looks to capitalize on its multiple banking licenses.
Most banks are likely not large enough to not support stablecoins and tokenized deposits on their own, creating a new way for legacy IT firms to compete with fintechs.
It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices group say.
The payments processing firm recently filed for Chapter 7 bankruptcy with a nearly $3 million disputed charge owed to a subsidiary of Global Payments.
