Fintech

Inaccurate data that finds its way into the global banking payment process creates "hidden costs" of hundreds of thousands of dollars for banks, corporations or large retail businesses.

In less than six months, MoBank Group has sparked plenty of interest among United Kingdom online retail merchants as they upgrade their websites for mobile commerce.

An anonymous letter sent to some shareholders of PrepaYd Inc. appears to have ties to a California Department of Corporations subpoena the prepaid card company received a year ago. And it has the company's CEO fuming.

Credit card issuers may be able to target their marketing better through a new Equifax prospect-scoring model that identifies the consumers most likely to open an account.

A group of investors led by Yahoo co-founder Jerry Yang has agreed to invest $4.8 million in a Redwood City, Calif., payments network that lets people use retailers' gift cards to buy goods and services from other merchants.

Most merchants dread the idea of surcharging consumers at the point of sale, even if Visa and MasterCard are giving them explicit permission in a proposed legal settlement. But the option could prove valuable to merchants as they negotiate new contracts.

Neiman Marcus Inc.'s exclusive credit card acceptance policies are no more.

Visa and MasterCard, in a drive to tip the scales in favor of card issuers over merchants, have established policies over the years that have led to tens of billions in costs and losses through litigation settlements and legislation.

SCVNGR's LevelUp mobile payment system added Larkburger, chef Thomas Salamunovich's burger chain, to its merchant lineup.

FT. WORTH, Texas-Membership and loans have increased by more than 14% since Ft. Worth Community CU here debuted "Gabby," the credit union's virtual spokesperson.