Fintech

Square has stolen the spotlight — after convincing Starbucks to switch to Square for processing, the mobile-payments vendor gave other merchants the option to accept cards for a flat $275 monthly fee. How can a rival mobile-pay provider compete?

Kilowatt Credit Union of Madison, Wis., has selected First Data for debit processing services. The credit union also joined the Star Network, signing a multiyear agreement under which Star will provide PIN-secured debit point of sale and ATM access to its cardholders.

Wright Express Corp. continues to expand its global presence, acquiring a 51% interest in Unik SA, a privately held provider of payroll cards in Brazil, for approximately $21.9 million.

A common criticism of daily-deals providers such as Groupon and LivingSocial is that merchants using those services generally don't always receive return visits or sufficient data to use in designing long-term customer-loyalty plans.

DeviceFidelity is relaunching its Moneto mobile wallet, and this time around it lets users transfer funds to other Moneto users' prepaid accounts.

Motorola Employees Credit Union has extended its contract with Discover Financial Services' Pulse electronic funds transfer network, enabling holders of its Visa check cards to use their PINs to pay for purchases nationwide and to withdraw cash at Pulse's network of more than 380,000 ATMs.

ALEXANDRIA, Va. – NCUA reported this morning it approved a request from Hawaii Central FCU to serve the one million residents on the island of Oahu, the fourth credit union cleared to serve all of metro Honolulu.

Harland Financial Solutions has offered financial institutions limited ATM and point-of-sale debit support for some time, but its clients had to look elsewhere for merchant, credit card and fraud-prevention services. Now they don't have to.

Many companies are seeking fresh ways to use mobile phones to add functionality and security at ATMs.

AUSTIN, Texas – A+ FCU is offering Austin Community College students the chance to win a $2,500 grand prize in its inaugural Riverbat Savings Challenge, which it said is the nation’s first community college savings contest.