Fintech

PayPal Inc. is spreading its wings even further into the prepaid card market at a time when more underbanked consumers are viewing such products as being favorable to using cash.

The emergence of several new prepaid debit card programs and growing national distribution of major prepaid card brands is helping to generate marketplace interest in buying and selling prepaid card portfolios.

ALBUQUERQUE, N.M. – First Financial CU says it is phasing out its traditional ATM cards in favor of debit/credit cards, one of the fall-outs of the Durbin amendment to the Dodd-Frank bill.

Many small banks have never accepted that an exemption from the Durbin amendment will protect them from the measure's roughly 50% cut in debit interchange rates.

Bank of America customers in upstate New York were issued new debit and credit cards after a third-party breach possibly compromised their information.

LEXINGTON, Ky. – University of Kentucky FCU has been dressing up city billboards, in-branch signs, postcards and buttons with a big kiss – and the tagline “lipstick on a bank.”

Gift card exchange firm Plastic Jungle Inc. hopes to boost transaction speed and available options through a partnership with prepaid products marketer InComm Inc.

Diebold Inc. is looking to cut out its competitors at banks where it provides ATM services.

InComm Inc. has acquired health care benefits services company Medagate Corp., the prepaid card distributor announced Feb. 13.

Dramatic growth in transaction volume fueled by various new partnerships helped Monitise PLC to report significant gains in revenue and a profit for the second half of 2011, the London-based mobile-money services company reported Feb. 13.