Fintech

MUMBAI, INDIA–A company that enables India’s banking customers to conduct instant interbank mobile funds transfers is planning to extend the service to enable them to also pay for purchases at merchant locations, the firm’s chief executive told PaymentsSource here March 3 at a technology summit organized by the Indian Banks’ Association.

AT&T Inc. has added WorldPay US Inc. as a processor for the mobile-merchant payment initiative the telecommunication company launched last year, according to an entry posted March 1 on WorldPay’s blog.

Tee-On Golf System Inc.’s announced partnership earlier this week with Yespay International Ltd. will enable Canadian golf courses using Tee-On’s tee-time booking software to accept EMV chip-and-PIN payment cards, according to London-based Yespay.

Bank customers in India soon will have to use a second identification method to conduct ATM transactions, according to G Gopalakrishna, executive director at Reserve Bank of India.

As banks join forces with prepaid-card companies, reputational risks loom.

CHELSEA, Mass. – Metro, one of the biggest credit unions in the Bay State, will get access to more than 100,000 students at a dozen area colleges with the planned merger of University CU.

Despite naming its product Virtual Wallet, PNC Financial Services Group Inc. has decided that its Web-centric bank account should be firmly grounded in the real world.

Hoping to increase overall loyalty, PNC Bank NA, a member of The PNC Financial Services Group Inc., is adding new credit cards to its portfolio whose rewards are based on the consumer’s relationship with the bank, the Pittsburgh-based issuer announced March 1.

Western Union Co. has introduced a mobile Web version of its foreign-exchange payment service that enables small and midsize businesses with international ties to conduct transactions using smartphones, the company announced March 2.

ATM independent sales organizations are worried about declining interchange rates, rising costs and pending legislation, but the majority are still looking to expand their businesses within the next year, the results of a recent survey suggest.