Fintech

PrepaYd Inc., a marketer of prepaid debit cards that operates under the name Bank Freedom, soon will begin offering its customers prepaid wireless phones and service to help create more customer retention around its card products, PaymentsSource has learned.

Minnesota’s TCF Bank asked a federal appeals court yesterday to order the Federal Reserve to provide the court with an advanced copy of the Fed’s final debit rule to be voted next week, in order to help the court deliberate over the bank’s suit to stop the rule.

Discover Financial Services second-quarter profit more than doubled as declining delinquency and charge-off rates allowed the credit-card lender to tuck away a smaller amount of money to cover bad loans.

WILMINGTON, Del. – Global technology vendor Serverside Group filed suit in federal court this morning claiming dozens of credit union groups and banks are infringing on its patents for card customization technology.

PIERRE, S.D. – Minnesota’s TCF Bank asked a federal appeals court yesterday to order the Federal Reserve to provide the court with an advanced copy of the Fed’s final debit rule to be voted next week, in order to help the court deliberate over the bank’s suit to stop the rule.

The proliferation of merchant-funded incentive programs and their growing popularity with banks is likely to open up certain new competitive fronts among credit and debit card issuers, a new Aite Group study suggests.

TOLEDO, Ohio – Four credit unions and seven banks are working together in this hard-hit Rustbelt city’s Bank on Toledo program, aimed at getting the unbanked into mainstream financial services.

An acquisition of the ATM businesses of EDC Holding Co. LLC would do as much to boost the quality of Cardtronics Inc.’s ATMs as it would to boost its quantity, observers say.

Credit card companies should tie their marketing to social-media sites because more credit cardholders are connecting with them through those channels, new survey data suggest.

Financial institutions should focus on building their debit card portfolios as they wait for the Federal Reserve Board to determine debit card interchange rate reductions now that the Senate has decided not to delay implementation of the Durbin amendment, suggests a white paper from The Members Group, which does business as TMG, a financial-services provider to credit unions and community banks.