SAN JOSE, Calif.–In the new year credit union members should prepare themselves for watching commercials when making payments at point-of-sale terminals. Verifone Holdings a key developer of interactive card-acceptance systems used in taxis, is seeking to roll out the same technology in retail outlets as part of a program it calls “payment-enabled media,” which is what it calls terminals with video screens that can stream news programs or other entertainment, support online features and deliver advertising.
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A new consortium of community banks plans to offer deposit insurance above the FDIC's $250,000 limit. But skeptics say such private-sector efforts have a spotty history.
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The institution is among the first users of an embedded banking platform from FIS that places financial services and payments inside of the business software.
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