Fintech

CHICAGO–Google Inc., Isis and PayPal Inc. each are attempting to position their mobile wallets as the one consumers will prefer to use on their smartphones.

Banks that stopped issuing credit cards during the recession are showing renewed interest in getting back into the business, signaling a positive trend that could bode well for payments processors next year, contends the top executive at Total Systems Services Inc., or TSYS.

The Commonwealth Bank of Australia on Oct. 26 unveiled a mobile-payment platform to enable iPhone-owning customers to do online banking, instantly send funds to Facebook friends or to anyone’s email address or telephone number, and, with the use of a special cover, make contactless payments.

The Federal Deposit Insurance Corp. has ordered West Coast Bank in Lake Oswego, Ore., to improve oversight of its overdraft program and reimburse customers who incurred overdraft fees last year using their debit or ATM cards.

Banks are starting to take a three-pronged approach to the technology gap that exists between them and their small business clients: remote deposit capture, social media and, in the case of Citizens Financial Group, corporate spend controls.

First Community Federal Credit Union will return an estimated $200,000 to members as part of a three-month debit card campaign called “Skip the Fee, Swipe for Free,” the institution announced this week.

For toy store owner Buddy Wood, the one thing as familiar as Schwinn bicycles and Radio Flyer wagons is interchange. Wood has watched fees evolve in the four decades he has operated his family-owned store in Metairie, La.

The nation’s largest credit card issuers in September reported significantly fewer charge-offs than a month earlier, driving the average bankcard charge-off rate to its lowest level since 2007, according to new data Moody’s Investors Service released Wednesday.

BIRMINGHAM, Ala. – Jefferson County Employees CU has dropped the county employees from its name and now is known as Jefferson CU to reflect a broader field of membership.

PHILADELPHIA – American Heritage FCU is now offering new members up to $130 to join the credit union in November and open a checking account with direct deposit of net pay, a no-fee debit card, onLine bill payer and e-statements.