Fintech

The banking giant is using technology to empower corporate customers to keep tabs on and resolve issues with cross-border payments.

Lease-to-own fintech Acima has launched a virtual Mastercard payment card to allow underbanked consumers to lease eligible products and eliminate risk for merchants as Acima purchases the goods for rental.

PNC Financial Services Group Chief Executive Bill Demchak said he wants to position the bank to perform in a sector in which smaller firms are disappearing amid a wave of consolidation.

The company will gain seven branches, including one in Richmond, Va., after it acquires Sevier County, which is based in eastern Tennessee.

The nine-year-old service predates the payments-oriented fintechs that have become popular in recent years.

The Michigan-based institution has positioned itself for additional growth by making it easier to qualify for membership.

Gap and Synchrony Financial are parting ways after they couldn’t reach an agreement to renew their longstanding card partnership.

Invoiced is working with with the Mastercard Track Business Payment Service, the open-loop network that supports a vast network and business directory of buyers and suppliers.

While U.S. regulators pressure Visa and Mastercard, there's ample choice, particularly when compared to the national debit rails that exist in most of the world, says Intrepid Ventures' Eric Grover.

The Wisconsin company is paying $248 million for Mackinac, which has $1.5 billion of assets and $1.3 billion of deposits.