Fintech

Prepaid card marketer NetSpend Corp. is teaming with PayPal Inc. in a deal that so far has been the subject of little fanfare by either company.

Bank of America Corp.'s decision to drop its controversial debit-card fee may have come too late to retain some accounts because a large number of big-bank customers already have defected to smaller banks in protest over fees (see story).

On the same day that Bank of America Corp. bowed to pressure and decided to nix a $5 monthly debit fee it had planned to impose next year, a consumer financial-literacy organization released data suggesting the fee would have disastrous results.

Co-op Financial Services is enabling credit unions to offer a merchant-funded rewards program tied to their debit and credit cards, leveraging an online shopping portal to earn cash back for members.

A new rebate program from UniRush LLC is the latest attempt by a prepaid card marketer to make its product as sticky as a bank account without generating a backlash from its fee-sensitive audience.

Bank of America Corp. has caved to customer pressure and the competition and will not charge a $5 monthly fee for debit card use after all, the bank announced Nov. 1.

Those who want a say in future card-data security standards may send feedback to the Payment Card Industry Security Standards Council for the next six months, a council executive says.

Bellco Credit Union launched a photo contest as part of a social media initiative to select potential new Visa card designs.

Using an effective online banking data-security method customers view as nonintrusive represents the best option for financial institutions as fraud-prevention capabilities increasingly become key factors in consumer choice, a fraud expert suggests in a recent study report.

Sluggish global economic growth has placed pressure on international corporate activity, but it also is providing an opportunity for corporate payment-automation providers such as Syncada that peddle more efficient processing.