Fintech

In what its president says could be a "watershed event" in the debate over EMV debit transactions, the Secure Remote Payment Council has softened its stance to welcome Visa and MasterCard applications on EMV-chip cards.

NEWARK, N.J. – Four Russians and a Ukrainian were indicted on charges here this morning of running the biggest cards theft ring in history, which hacked into databases at dozens of the world’s biggest companies and siphoned more than $300 million from their customers’ bank and credit union accounts.

Vantiv's deal to buy Element Payment Services, combined with its purchase of Litle & Co. this year, accelerate the payment processor's move toward providing e-commerce and broader merchant services.

Capital One Financial Corp. saw charge-off rates for its domestic credit card business fall to the lowest mark since the bank acquired HSBC's card business last year.

The U.S. should follow the model that worked for the U.K. in its "seamless, coordinated" transition to the EMV-chip card standard seven years ago, Auriemma Consulting Group states in a new report.

Visa CEO Charlie Scharf responded to the retailer-backed Merchant Customer Exchange (MCX)'s recent moves in mobile payments by pointing to the growth of Visa's V.me digital wallet, its penetration among merchants, and the fact that MCX's wallet still hasn't launched.

BARTLESVILLE, Okla. – 66 FCU, the one-time credit union for Phillips Petroleum, has changed its name to “Truity” CU, which it said is a play on the words trust and integrity.

U.K.-based mobile point of sale company iZettle now charges a range of 1.5% to 2.75% based on the merchant client's monthly volume.

London-based Kalixa Payments Group is offering consumers in Europe a mobile wallet based on DeviceFidelity's Near Field Communication technology.

Discover Financial Services experienced fewer credit card delinquencies in the second quarter ended June 30, as well as growth in its online bank, leading to a boost in quarterly profits to $602 million.