Fintech

Bitcoinstore, an online seller of computers, monitors, cameras and other electronics, opened for business recently with the promise of undercutting competitors who accept only conventional payments.

As ATM network operators add more complex payments functions, technology providers such as Fiserv and NCR are tweaking the underlying technology to better monitor the machines remotely.

Small businesses are often the toughest sell for payments automation, and WePay is attempting to boost its penetration into this market by offering a new native app for iOS that enables remote invoicing and credit-card charging.

SEATTLE – A leader of a Canadian group that skimmed ATM cards at Vancouver–area Starbucks and Dirty Apron cafes, then created counterfeit cards used to withdraw as much as $400,000 from Seattle ATMs, was arrested here last week and charged with bank fraud.

RANCHO CUCAMONGA, Calif. – CO-OP Financial Services announced this morning it is extending its partnership with The Members Group to offer TMG’s reloadable prepaid cards to its credit union customers.

The sales pitch behind many mobile payment systems is convenience, but some companies are learning that when a payment system becomes too convenient, the backlash can last for years.

Within five years, companies in the card business will have to choose a new label for their trade, especially if they embrace current technology and trends.

HUNT VALLEY, Md. – Point Breeze CU, the one-time telephone workers credit union, said this afternoon it hired Bernard McLaughlin, head of $140 million Members First CU in Manchester, N.H., as president and CEO of the $725 million credit union.

Consumers are notoriously reluctant to choose new payment habits. This week, LevelUp and 20 retailers forced the issue by taking away their choice. The "credit card diet," which took place Feb. 26, involved 20 retailers in Boston and Washington D.C. They all refused credit cards for one day.

MasterCard is bringing its mobile PayPass contactless payment technology to Brazil, in partnership with Itau, TIM, Redecard and Gemalto.