Fintech

STROUDSBURG, Penn. – NE PA Community FCU has hired CUSO Financial Services LP to develop a managed investment program for its members.

Fiserv Inc. increased its payments revenue and signed new clients in the second quarter, pushing its overall revenue up 10%, to $1.2 billion, in the second quarter from a year earlier.

TOWSON, Md. – State Employees CU of Maryland is expected to announce a naming rights deal tomorrow for Towson University’s new $62 million arena, located about 15 miles from the credit union’s Linthicum headquarters.

DETROIT – Fifteen local credit unions this morning rolled out a local merchant funded rewards program with RewardsNOW to help bolster commerce in this financially strapped city.

Visa and MasterCard have agreed to share their common application identifier technology, enabling EMV-chip based debit transactions to originate from a single application while allowing merchants a choice of networks for routing.

Prepaid card fees have plagued otherwise successful entrepreneurs and celebrity endorsers, including Suze Orman the Kardashian Sisters and Justin Bieber. But to prepaid card users, fees have left the spotlight.

In the payments industry, point of sale technology has become the "hottest area" of interest for companies considering an acquisition, according to the investment bank Berkery Noyes.

Bitcoin, a decentralized virtual currency, has been declared illegal in Thailand. Members of the Foreign Exchange Administration and Policy Department made the determination at a meeting on July 29 in the Southeastern Asian country, according to a Bitcoin exchange operator in attendance.

Commuters in San Francisco can now use their transportation-fare card to pay for parking in city garages.

The San Francisco bank has temporarily stopped selling defaulted consumer debts to collections agencies. Its move follows a more drastic pullback by JPMorgan Chase and a regulatory crackdown on the collections industry.