Fintech

James Gutierrez, founder of microlender Progreso Financiero, is leaving the company to start a firm that will work on cloud-based payments for the unbanked.

In its quest to rise above the fray in alternative payments, Obopay Inc. has identified another financial-services niche ripe for modernization: business-to-consumer payments.

Elga Credit Union recalled about 450 Visa cards and discovered thousands of dollars in fraudulent transactions after being notified by the card company they may have been compromised.

Turns out that ATM actually was a cash machine for a lucky member of CommonWealth One Federal Credit Union in Alexandria, Va., who withdrew $40. He also won the $10,000 grand prize Big Money Madness sweepstakes just by using an Allpoint Network ATM deployed at a 7-Eleven store in Washington, D.C. in December.

ORLANDO, Fla. – Insight CU has applied to state regulators to expand its field of membership to add 250,000 residents in five new counties adjacent to its current FOM: Dixie, Levy, Gilchrist, Columbia and Suwanee.

U.S. Bank, a subsidiary of U.S. Bancorp, is stepping up its rewards card offer in the highly competitive rewards card landscape.

Tap and pay could just as easily result in tap and steal with contactless cards, a recent investigation in the United Kingdom suggests.

First Data Corp. is giving the name “Universal Commerce” to the company’s campaign to combine online and offline shopping and loyalty rewards.

PSCU, the former PSCU Financial Services, is partnering with the Credit Union Association of New Mexico to offer a reloadable prepaid Visa card for teens, the two groups announced March 27.

ST. PETERSBURG, Fla. – PSCU, the former PSCU Financial Services, is partnering with the CU Association of New Mexico to offer a reloadable prepaid Visa card for teens, the two groups announced this morning.