Fintech

Technology is driving down the rate of fraud for banks, though the cost to consumers for identity theft crimes is going up.

Maas Global Solutions Corp. has become the exclusive processor for Pride Payments Network LLC after making a “significant investment” in the merchant acquiring independent sales organization, the companies announced Feb. 5

Two apps are better than one when launching mobile check-deposit services, at least for now, some banks say.

Lakshmi Vilas Bank Pvt. bank has become the 10th bank in India to launch the Internet Mobile Payment Service in India, a spokesperson for the Karur-based bank tells PaymentsSource.

Rewards programs long have been a staple with many credit and debit card products. And now prepaid debit card providers are attempting to retain their cardholders using similar incentives.

As merchants crack down on fraud, resources to help investigate and recoup their losses from so-called “friendly fraud” are on the rise, helping to thwart the trend, observers say.

Meta Financial Group Inc.’s profit fell by almost 40% in its fiscal first quarter after taking a goodwill charge stemming from its poor stock performance.

Sage Payment Solutions Inc. hopes to capture a new group of retail customers with the launch of a mobile service that provides small and midsize merchants lacking storefronts a low-cost option to accept credit and debit cards, the company announced Feb. 7.

Visa Inc. will allow merchants to offer discounts or other incentives to steer customers to a particular form of payment, including to a specific network brand or to any card product such as a “nonreward” Visa credit card, under terms of its settlement of an antitrust suit brought by the U.S. Department of Justice, the card brand announced last week.

BIRMINGHAM, Ala.-After 38 years as CEO, Larry D. Morgan has retired as CEO of APCO Employees Credit Union. During his tenure Morgan oversaw tremendous growth, from $3 million in assets to more than $2 billion, and from 3,200 members to more than 61,000.