Fintech

With many credit union CEOs seeking ways to make better use of the technology they already have in place, Todd Nuttall says the answer is staring them in the face: the ATM.

For many credit unions, growing in 2013 will come down to not "standing in their own way."

One person believes that the new year offers tremendous opportunities for credit unions to grow their unsecured lending portfolios around credit cards.

U.S. credit card ABS chargeoffs fell to a record low in December to finish 2012 on a positive note, according to index results from Fitch Ratings.

Some prominent mobile wallets today rely on NFC as the primary method of making payments. These include the mobile carriers’ Isis venture and Google’s mobile wallet. Others, such as PayPal, consider NFC optional. The mega-retailers’ Merchant Customer Exchange (MCX) venture, which has yet to release a product, promises a software-based alternative to NFC, storing card data in the cloud and using bar codes to conduct transactions.

Online payments gateway provider Payelp Global will provide its merchants with a payment option that will help customers without credit cards, or those in markets that don't accept credit cards, shop online with a virtual prepaid card.

DENVER – Colorado state regulators on Friday approved large community charters for three one-time employee-based credit unions, continuing the trend away from the common bond.

CHELSEA, Mass. – Metro CU continued to expand its suburban Boston footprint with a deal to acquire Fenwal CU, a troubled single-branch, $2-million credit union in nearby Ashland, Mass., the fifth merger for Metro in three years.

RALEIGH, N.C. – Seven North Carolina credit unions last week introduced the state’s first savings sweepstakes, which will award a grand prize of $30,000 and monthly cash prizes – the first of three states planning new statewide savings contests.

Retailers are looking to payments technologies to empower them to provide a more personalized shopping experience, one that improves consumer engagement at the point of sale and helps build customer loyalty, according to experts who spoke Sunday at the National Retail Federation’s annual convention in New York.