Fintech

SCRANTON, Penn. – Tobyhanna FCU has rolled out a “Divorce Your Bank” campaign, the latest credit union capitalizing on the anti-bank fervor.

BRAINTREE, Mass. – Liberty Bay Credit Union is offering $250 and a chance to meet New England Patriots star receiver Wes Welker to members who sign up for a new checking, savings or direct deposit account.

The acquiring industry is outsourcing some of the work involved with a new requirement to report merchants’ transactions to the Internal Revenue Service, a task some have characterized as worse than a bad dream.

Banks involved in the creation of a Single Euro Payment Area in Europe must view it as an opportunity to rebuild a payments system from scratch instead of as an overly complex challenge in which applying new standards to an old system will suffice, a new report by Boston-based research firm Celent asserts.

Growing consumer demand for ATM cash-withdrawal options is helping drive deployments in the Asia-Pacific region as expansion slows in mature markets such as North America and Western Europe, new research indicates.

Community Bank in southwest Florida is taking advantage of the recent PR nightmare large banks like Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. created for themselves by instigating debit card fees. The $750 million-asset bank is offering to pay people $5 per month to open a checking account instead of charging for debit transactions. Within just a couple of days, it became the most successful promotion in the bank's two-year history, and the institution partly has the bad mood of consumers to thank.

CHICAGO-As credit unions seek to grow business lending, one person is warning that written agreements between business clients and CUs are key to managing risk in that sector.

COLUMBUS, Ohio-Credit unions are busy washing off the welcome mat for bank customers who may be put off by a new wave of bank fees.

International Payments Solutions (Shanghai) Ltd and the Bank of China Ltd are collaborating with China-based Golden Holiday Travel Network on a promotion with incentives designed to increase the number of Chinese travelers who book tour packages online.

Nearly 350 members of the merchant-acquiring industry have applied to take the first test for the new Certified Payments Professional credential developed and administered by the Electronic Transactions Association.