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Pax Global Technology has landed what it describes as a major deal to distribute its payment terminals to Chinese merchants through China UnionPay Merchant Services [UMS].

The commercial-and-industrial loan space is overheated, higher rates could stifle mortgage refinancings, and subprime auto delinquencies are on the rise. Bankers could be fighting these fires and more in the new year.

Payments software provider Ezetap says an agreement with Pax Global Technology Ltd. will bring "hundreds of thousands" of mobile and mini point-of-sale terminals to India as the country lessens its use of cash.

An agreement between First Global Data and India's Metro Infrasys will bring a one-click mobile payment option to drivers using the country's tollways.

Dime Community Bancshares in Brooklyn, N.Y., will record a one-time charge after approving changes to its employee stock ownership plan.

The University of Illinois is getting an education in how complex tuition payment processing can be, especially when the students enrolled from outside of the U.S. It also serves as an example of the clients that are in big demand for cross-border payment companies seeking larger volumes.

The New York State Department of Financial Services has modified its cybersecurity rule after a strong pushback from bankers, including at a hearing in Albany last week.

Volkswagen Financial Services has acquired PayByPhone, a Canadian parking payment provider, for an undisclosed amount.

Chemical CEO David Ramaker has a wide range of options — diversify business lines, expand organically in several Midwestern states, pursue M&A or all of the above — following his recent acquisition of Talmer. But new challenges accompany Chemical's higher profile, too.

The New York State Department of Financial Services has modified its cybersecurity rule after bankers registered complaints at a hearing in Albany last week.

In another move that furthers India's movement away from cash, police in Pune plan to initiate a cashless policy by the end of the first week of January.

Get out of the red six months from now. That is Fred Viaud's goal for Glen Rock Savings Bank in New Jersey, which on Tuesday said he would be promoted to president and CEO next week.

Australia’s central bank is set to deploy a new, faster payments system enabling near real-time payments for consumers and businesses that will roll out in 2017.

Carrier billing provider Boku says it has expanded its agreement with Microsoft to provide services for the first time in France to all Windows 10 devices on the Orange France network.

While European banks worry about losing revenue because of the new Payment Services Directive (PSD2) requirement for opening up access to application program interfaces (APIs), they will benefit from the coming marketplace of premium APIs.

The Treasury Department has significantly reduced its stake in Broadway Financial in Los Angeles.

Dime Community Bancshares in Brooklyn, N.Y., said Friday that it has promoted Roberto Volino to chief operating officer.

United Community Bancorp in Lawrenceburg, Ind., has named a new chief financial officer.

Stephen Gordon has long been known as an entrepreneurial banker, which helped him expand his California bank aggressively over a five-year period. A spike in chargeoffs that led to a third-quarter loss spurred Gordon to beef up credit oversight. The question is whether that effort will stymie loan growth.

Highlands Bancorp in Vernon, N.J., has raised $8.5 million through a sale of common stock.