Reporters and other staff with the Associated Press who covered the Summer Olympics in Greece carried stored-value Visa cards developed specifically for them by Card Services, an affiliate of the New York State Credit Union League. The card was developed over the past year in conjunction with Associated Press (AP) EFCU, New York City, to ensure AP's 300 staff members had funds at their disposal while they covered the XXVIII International Olympiad. The cards were reloadable, so they could be replenished with U.S. dollars, which were then converted to Euros that AP staff could access as cash at ATMs or for point-of-sale purchases. Each AP staffer received a Visa card with a predetermined set value from Bud Weydert, director of special events for AP. If additional value needed to be added to the cards, Weydert only had to e-mail Card Services, let them know which card(s) needed to be reloaded and with what dollar amount. The cards expire at the end of this year.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3