Fintech

To speed up checkout times for small-ticket transactions, a pilot under way at Australian retail chain Coles Supermarkets is enabling holders of EMV Chip-and-PIN credit cards to make purchases without having to enter a PIN.

EMerchants Ltd. on May 20 won a three-year contract to provide prepaid cards for Telechoice, the largest dealer for mobile operator Optus Ltd. in Australia.

Michaels Stores Inc. claims in mid-May it was partway through the process of upgrading the payment terminals in its stores to new, tamper-resistant models when a series of fraudulent debit card transactions pointed to criminals tampering with PIN pads at its stores.

Mitek Systems said June 6 it has been granted four new patents from the U.S. Patent and Trademark Office for its popular “Point, Shoot and Deposit” mobile deposit technology.

PNC Financial Services Group Inc. is opening 6,000 new Virtual Wallet accounts per week, the Pittsburgh banking company's chairman and chief executive James Rohr said June 3.

Google Inc. isn't asking for a share of the payments revenue generated with its new mobile wallet. Nevertheless, partnering with the search engine juggernaut could be a trade-off for banks.

ONTARIO, Calif.-Two states hit hardest by the recession are showing signs of recovery in 2011, albeit at different rates.

LAS VEGAS-The economy in southern Nevada is slowly improving after a dismal stretch, and Brad Beal expects $695-million Nevada Federal Credit Union to break even in 2011.

TALLAHASSEE, Fla.-Preparation will play a large role in credit unions' success the remainder of the year, according to Jim Park. The president of CU24.

ONTARIO, Calif.-Auto loan competition that continues to increase demands that credit unions be more thoughtful and strategic with their auto loan business over the remainder of 2011.