Fintech

JPMorgan Chase & Co. has scrapped a test of higher ATM fees it did in two states for noncustomers, a spokesman confirmed on Tuesday.

An increase in transaction volume at its merchants and higher debit network fees from its bank clients helped payments processor First Data Corp. increase its quarterly revenue by 6% from a year earlier to $2.5 billion.

WASHINGTON — Although it's rare to have a financial services issue play much of a role in a local political campaign, the battle over the Durbin interchange amendment has become an unusually prominent part of the re-election race of Sen. Jon Tester.

ALEXANDRIA, Va. – NCUA released a study this morning showing that many small credit unions currently lose money on their debit cards but for most credit unions debit is extremely lucrative.

ATLANTA– Processing giant First Data Corp. reported this morning that debt incurred from its huge 2007 takeover continues to saddle it with big losses but rapid growth in debit processing helped stem the losses.

The fraud management provider Memento Inc. announced April 28 that Bremer Financial Corp.’s Bremer Bank has agreed to use its technology.

BOSTON – Metro CU is now open to students and employees at 14 area colleges after completing its merger with University CU.

Brihanmumbai Electricity Supply and Transport Co. soon will enable consumers to pay their electricity bills though their mobiles phones.

Fidelity National Information Services Inc., or FIS, is pushing its debit-processing network to banks and credit unions as they await the outcome of pending caps on debit card interchange fees.

The Federal Reserve Board’s July deadline for capping debit interchange is just around the corner, but MasterCard Worldwide said it does not expect to feel its effects until at least next year.