Fintech

NORTH HIGHLANDS, Calif. – A lucky member of SAFE CU will be travelling to London for the Olympic Games as grand prize winner of the Visa London 2012 Olympic Games Sweepstakes.

Facebook is becoming the first big technology provider to reward hackers who uncover vulnerabilities on its own corporate network. The company has created added allure by distributing the payments on Visa-branded debit cards that look like Amex's invitation-only Centurion cards.

Fueled by growth in transfer activity and a large boost in the number of agent locations globally, the Funds Transfer unit at MoneyGram International reported a sizeable boost in second-quarter revenue, though the company also experienced a decline in bill-payment income.

When data security vendor Trustwave introduced its newest software, the mission was fairly clear — help merchants keep abreast of Payment Card Industry data security requirements.

The heat is on for prepaid debit card marketers to match one another on certain key services and features as competition between providers escalates.

Visa swung to a loss of $1.8 billion in the third quarter, as it paid its portion of a $6 billion settlement agreement with retailers that was announced earlier this month.

Visa posted a fiscal third-quarter profit that beat analysts' estimates as credit and debit card spending rose.

SAN FRANCISCO – Cards giant Visa Inc. reported a $1.8 billion loss for its fiscal third quarter this afternoon, because of expenses related to its historic antitrust settlement with merchants.

JPMorgan Chase's Disney debit rewards card was one of many that banks eliminated after regulation led to a slash in debit interchange revenue. Now the card is making a comeback — with a few changes.

As big companies lock horns to bring mobile wallets to the point of sale, smaller companies are focusing on a different opportunity — improving payments in mobile e-commerce.