Fintech

Dynamics Inc. has created a chip card that can re-write itself and hold two different accounts, the company announced Sept. 19.

Mocapay Inc. is testing a mobile loyalty and prepaid gift card platform that it intends to make widely available to small merchants in the first quarter of next year, the company’s president tells PaymentsSource.

A five-year terminal contract that will enable Avis Europe PLC Inc. to process and manage transactions from numerous European countries will help position French terminal maker Ingenico SA to corner the European car-rental market, company executives and an industry analyst say.

Members at BECU, formerly Boeing Employees Credit Union, and hundreds of credit unions had their cards rejected at Co-op Financial ATMs on Sept. 16 because of a disruption in the system at processor Fidelity National Information Systems.

INDIANAPOLIS-Horizon One FCU claims a small piece of credit union history in that it was the first CU to request two full counties as its field of membership, according to Ann Garmon.

MASSENA, N.Y.-Scott Wilson knows that without expanding the credit union's charter many years ago, today SeaComm FCU would be closing its doors along with the GM plant in this town.

LAKE BLUFF, Ill.-One economist believes there is enough overdraft and checking revenue up for grabs in the final months of 2011 to cover credit union assessments and any interchange losses for the entire year.

With privacy concerns about its mobile phone location-based credit card fraud-detection technology in Europe resolved, ValidSoft Ltd. has set its sights on entering the U.S. market within the next few months, the company CEO says.

More than 3,000 merchants have signed up to use an alternative mobile phone-based loyalty scheme called Paycloud from SparkBase Inc. that may eventually include a mobile-payment element, the company says.

Citigroup Inc. is raising the fees it charges customers for its basic checking accounts and it will no longer give them rewards for using its debit cards, in the wake of new regulations capping debit interchange fees, the company announced Sept. 16.