Fintech

Revenue from electronic channels supported by The Western Union Co., including westernunion.com, account-based funds transfers and mobile funds transfers, grew by more than 35% during the second quarter, the company said in announcing its earnings for the period.

Cardtronics Inc.’s wholly owned subsidiary Cardtronics USA Inc. has completed its acquisition of EDC ATM Subsidiary LLC and Efmark Deployment I Inc., the ATM independent sales organization announced July 26.

Few of the security features designed to prove a credit card’s validity in the physical world work well online. One startup aims to change that.

Payments-technology vendor ACI Worldwide Inc. has submitted a bid to buy rival S1 Corp. for $540 million, aiming to thwart a separate deal S1 announced last month to merge with Fundtech Ltd., ACI announced July 26.

In a major new development in the country’s banking payments sector, Israel’s Postal Bank plans to launch a dual-currency prepaid card its accountholders may use to shop on overseas retailers’ websites, the financial institution announced earlier this month.

Observers have speculated that now that ISIS has signed on card networks Visa, MasterCard, Discover and American Express to work with its telecom members AT&T, T-Mobile USA and Verizon on mobile payments, it will muscle out competing scheme Google Wallet. To date, Google has signed on one card network, MasterCard, and one telecom operator, Sprint, as well as Citi, First Data and sixteen merchants as tenant partners.

PITTSFIELD, Mass. – Greylock FCU has agreed to acquire Steinerfilm Employees FCU, a $300,000 credit union in nearby Williamstown, Mass.

WASHINGTON – NASA FCU was approved by NCUA to add 120,000 members of the American Association for the Advancement of Science to its field of membership, one of the biggest select group additions in recent years.

HURON, S.D. – Dakotaland FCU, South Dakota’s second-largest credit union, will pick up two new branches with the mergers of Turtle Creek FCU and Interlakes FCU, NCUA reported yesterday.

Signaling the opening of a new market for Chinese manufacturers and retailers, Alibaba Group Ltd. is working with Western Union to develop an online payment platform, the Chinese business-to-business e-commerce specialist announced earlier this month.