Fintech

Fawry Banking & Payment Technology Services Ltd. has signed a partnership deal with online prepaid payment provider cashU Inc. to support over-the-air reloading of cashU card accounts, the two Egypt-based companies announced Jan. 27.

For nearly every sales force in nearly every industry, selling based on price can be a losing game; someone is always willing to sell for less.

That Apple Inc. is targeting mobile payments is a foregone conclusion, but that doesn't mean banks must take a defensive approach.

Various terminal makers have come out with their own devices and services designed to support payment card acceptance using mobile phones. But one independent sales organization has decided to do so on its own, and at least one observer says the company could succeed with the proper marketing.

The PCI Security Standards Council is seeking to broaden the scope of industry participation as it empanels its third set of new advisory board members since the initial board convened in 2007.

Zimbabwe’s Cross-border Traders Association, in collaboration with Selafin South Africa, a financial-services subsidiary of Selacor Group of Cos., has launched a reloadable prepaid card for its members who travel to South Africa, the trade group announced last week.

Federal Bank Ltd. on Jan. 26 became India’s first debit card issuer to stop charging its customers who use other banks’ ATMs, regardless of how many times they do so, a spokesperson for the Kochi-based bank tells PaymentsSource.

SLEEPY EYE, Minn.-SouthPoint FCU ranks at the very top of its peer group for cross selling, and the credit union says it owes that good fortune to not paying employee incentives.

LAUREL, Md. — While interchange rules have created debate around potential shifts in checking account marketshare, Tower FCU here continues to see strong response to an offer that pays up to $125 to new members.

Visa Inc. said Thursday that it had shed seven members from its board of directors.