Fintech

Giving card issuers a potential new venue to tap small business mobile payments at the point of sale by selling speed, Intuit this week is demonstrating new renovations its GoPayment mobile service to eliminate the card readers that merchants attach to their mobile devices to execute card payments.

Visa Inc. is working with several banks to roll out a digital wallet service in the U.S. and Canada this fall that will let consumers make payments with Visa and non-Visa cards.

SAN FRANCISCO – Visa said this morning it is working with a select group of credit unions and banks to launch a digital wallet later this year that will store Visa and non-Visa payments accounts and deliver a broad range of financial transaction capabilities.

Merrick Bank Corp. has signed on to offer Secure Vault Payments to merchants through its ISO network, and sources say the fledgling payment method may become available to 17 million consumers before the end of this month and to 50 million by year’s end.

Co-op Financial Services launched a new service this morning that will enable credit unions to remotely control the marketing and operational content of their ATMs.

RALEIGH, N.C. – State Employees’ CU said its National CU Youth Week’s “Money Rocks at My Credit Union” promotion attracted $3.2 million in new deposits from 17,500 of its young members.

Continued weakness in the gaming sector and consumer revolving credit, coupled with the loss of Harrah’s Entertainment’s casino business, the company’s largest customer, late last year, created some first quarter financial difficulties for Global Cash Access Holdings Inc., the company announced May 10.

American Express Co. is working with Boston-based LevelUp on a pilot with Levi Strauss & Co. Levi’s stores in three major U.S. cities during which cardholders may receive statement credits by using a smartphone application that supports discounts for shopping at the clothing retailer.

Stronger demand for its payment terminals in certain emerging markets helped Hypercom Corp. produce higher-than-expected first-quarter revenues, according to analysts, as the company draws closer to its planned acquisition later this year by VeriFone Systems Inc.

WASHINGTON – The Federal Reserve is planning to amend its proposal to cap debit fees at a higher rate, setting a compromise in the heated controversy between merchants and banks and credit unions while at the same time threatening efforts by banks and credit unions to delay implementation of the rule.