Fintech

The U.S. Justice Department sued to block Visa’s $5.3 billion deal for the data aggregator over concerns that it would harm competition in the global payments market.

If the deal is approved, the $6.4 million-asset credit union would drop its federal share insurance upon joining Towpath Credit Union.

Control of Congress was still in play late Tuesday, as the Democrats retained control of the House of Representatives while neither party gained the necessary seats to control the Senate.

It is a frustrating reality during a time of national crisis that emergency payment options for vulnerable populations remain such a complex and inefficient landscape, says Flourish Ventures' Sarah Morgenstern.

São Paulo, Brazil-based payments fintech Conductor Technology has raised $150 million in a private equity round led by Viking Global Investors.

The company is looking to tap into a surge of homebuying tied to historically low interest rates.

In a major break from the Payment Card Industry security standards playbook, merchants and service providers using newer technologies would have the opportunity to rewrite network operation and testing procedures when achieving compliance.

Reflecting the rapid transition to digital payments, PayPal has reported its strongest growth in total payment volume and revenue in its history, coupled with strong growth for Venmo, its P2P app.

Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.

Members of Niagara Mohawk Power Corp. Troy Employees Federal Credit Union recently voted to merge with Albany-based CAP COM.