Fintech

NEW BERLIN, Wis. – Landmark CU is in the process of merging four more credit unions, leapfrogging Summit CU as Wisconsin’s biggest credit union.

Acquirers representing merchants such as coffee shops and quick-service restaurants may be paying more in interchange for some small-ticket transactions under the Federal Reserve Board’s reduced debit rates than they are for cards exempt from the new rate cap, notes an attorney who frequently deals with clients in the payments industry.

A cybercrook attempting to purchase online products with fake credit cards or under a phony name likely would not be able to hide from a Retail Decisions Ltd. fraud-protection upgrade designed to enable merchants to know where their online shoppers are located, the fraud prevention consulting and payment processing firm announced Nov. 28.

Seamless Distribution AB believes it has developed a mobile-payment method that replaces the need to shop with credit and debit cards, thus saving money for merchants who no longer would have to pay card-related fees, the payments software company announced Nov. 29.

Acculynk Inc. is banking on its relationships with major U.S. retailers to help it secure card-network partnerships in the international market to deploy PaySecure, its Internet PIN-debit product.

Associated Bank in Green Bay, Wis., has agreed to pay $13 million to exit a class-action lawsuit that accuses it and other issuers of processing debit card transactions in a manner that maximized fees from overdrafts.

Processor 99Bill Corp. has entered the cross-border electronic-payments market in China, offering payment-processing services for Chinese merchants that sell their products and services internationally, the Beijing-based company announced Nov. 19.

Transaction processor Vantiv on Nov. 29 introduced its first prepaid program, offering issuers general-purpose reloadable MasterCards.

The Financial Service Authority in the United Kingdom has authorized Euronet Worldwide Inc. to acquire ATM and credit card transactions throughout most of Europe without the requirement of a sponsor bank, the e-payments provider announced last week.

NEW BERLIN, Wis. – Landmark CU, in the process of integrating two recent mergers, is seeking to acquire Horizon CU, a $26-million credit union in nearby Racine.