Fintech

The U.S. average credit card charge-off rate declined in August, resuming the general downward trend of the past two years following a slight uptick in July, according to a new Moody’s Investors Service report.

Adding to the opposition against National Credit Union Association’s proposal to require financial reporting from credit union service organizations, Credit Union 24 is organizing a letter-writing campaign urging withdrawal of the initiative.

When battling data breaches, banks might want to start thinking small.

More financial institutions have done away with free checking accounts or have raised the minimum-balance requirements to avoid the charges, and the fees they are applying to accounts are up this year, new research shows.

Banks tend to look at competitors in mobile payments with a wary eye, but they would be better off working with one segment of this group–telecommunication network providers, suggests Ernst & Young’s new report “Mobile Money 2011 (see report).

VINELAND, N.J. – Bay Atlantic has contracted with On Your Way to provide it with the company’s Generation Y marketing program.

Independent ATM provider YourCash Ltd. will target supermarkets throughout Belgium as testing sites for new ATMs as it expands an ongoing program of in-store deployments with European payments processor Equens SE, the companies announced Sept. 20.

CHICAGO—Last week, the PCI Security Standards Council pushed advanced encryption as a way to protect consumers’ card data. But one point-of-sale vendor executive contends authentication at every step of the payments process would work better to combat fraud.

Customer credit card data was not endangered during last week’s security breach of a small portion of websites hosted by GoDaddy.com Inc., a company executive says.

Green Dot Corp. has joined the Payment Card Industry Security Standards Council to participate in the standards-setting process, the Monrovia, Calif.-based prepaid card marketer announced Sept. 26.