Fintech

WEBSTER, Mass. – Webster First FCU, one of the biggest credit unions in western Massachusetts, said yesterday it is expanding to the eastern part of the state with a deal to acquire troubled Saugus FCU, a one-time $68 million credit union in Boston’s northern suburbs.

Visa Inc. has launched a travel-themed marketing campaign in the U.S. that includes national television ads, a new Facebook application enabling consumers to chronicle their vacations and a sweepstakes via Facebook in which one participant will receive a $100,000 “trip of a lifetime,” the card brand announced May 23.

Payroll card providers may be missing an opportunity by failing to reach out enough to small businesses, new survey data suggest.

India’s domestic payment card scheme took a leap forward this month with the National Payments Corp. of India collaborating with two banks to launch RuPay-branded ATM cards.

The average U.S. consumer credit card charge-off rate fell again in April, underscoring a noteworthy decoupling of the unemployment rate and the number of credit card accounts lenders deem uncollectible, Moody’s Investors Service said in a May 23 report.

Two-thirds of consumers surveyed last fall did not believe interchange regulations that that would limit how much retailers pay to accept debit cards would result in merchants lowering the prices they charge, according to research from Javelin Strategy & Research.

Two-thirds of consumers surveyed last fall did not believe interchange regulations that that would limit how much retailers pay to accept debit cards would result in merchants lowering the prices they charge, according to research from Javelin Strategy & Research.

VSoft Corp., a provider of popular remote deposit capture technology, announced May 23 it is partnering with Mitek Systems Inc. to provide Mitek’s patented Mobile Deposit to financial institutions leveraging VSoft’s Agile Mobile Capture service.

A federal court has approved a $410 million payment by Bank of America Corp to settle lawsuits accusing it of charging excessive overdraft fees to roughly 1 million customers.

RewardsNow Inc. is running a sweepstakes for end users of its online rewards system for banks and credit unions, the loyalty-marketing service provider announced May 23.