Fintech

WASHINGTON – The Federal Reserve issued a report today saying even though card issuers reported lower interchange revenues from debit card transactions last year it has no plans to change the rules governing Durbin amendment’s cap on swipe fees, as the rules gave it the power to do.

FT. LAUDERDALE, Fla. – Three Romanian men were arrested and three more are being sought in a debit-card skimming operation that siphoned funds from more than 400 credit union and bank accounts.

"Shopping is boring," says ShopSavvy CEO John Boyd. His company is working with Capital One to turn the stale process of buying a product off the shelf into an eventful experience built around a mobile wallet.

While Justin Bieber croons "I'll be your platinum, I'll be your silver, I'll be your gold," on stage, off stage he is the latest celebrity to endorse plastic. But there's something different about Bieber's pitch for prepaid cards.

First Data is providing the technology that underpins Foursquare's recent enhancements to its deals service, which allows credit and debit card holders to link their accounts to Foursquare's social network.

MasterCard Inc. says it has secured a partnership with a mobile wallet provider in India that furthers its goal of serving cash-only segments with plastic and electronic payment alternatives.

BROCKTON, Mass. – Members of HarborOne CU, the Bay State’s second largest credit union, are mailing in their vote whether to convert the $2 billion credit union to a mutual savings bank, with the 30-day ballot scheduled to culminate a week from today at a special members’ meeting.

Spire Payments has purchased Thyron Payments Systems in a deal that will allow Spire to support chip-and-PIN and mobile payments alongside the new Spire payment terminals that are due to roll out in the second quarter.

This is the latest of multiple name changes for the company, which used to be called IdeaEdge Inc. IdeaEdge was already trying on a new name, Socialwise Inc., when it launched the BillMyParents alternative payment product in 2009. Then in 2011, the company renamed itself again, calling itself BillMyParents Inc.

COLUMBIA, S.C. -- More than two dozen South Carolina credit unions are offering free gas fill-ups throughout the state this week as part of a public relations campaign to highlight good deeds in their local communities.