Fintech

Bank of America Corp. is upgrading the majority of its ATMs to help them fight viruses and more effectively do their own maintenance.

Western Union Co. is working with the prepaid card distributor InComm Inc. to offer a Western Union reloadable card.

For bank customers who can't keep big balances, free checking is on its way out. New overdraft rules and the proposed cut in interchange rates have ushered in a new reality in banking.

RoyalBank has added Compass Plus’ TranzWare service to support the launch of an in-house transaction-processing center at the bank, the retail banking software provider announced Jan. 25.

The treasurer of Australia reportedly has launched a probe into the fees ATM providers are charging at machines deployed in the Australian outback.

A fresh round of Apple Inc. rumors indicates the technology giant will include Near Field Communication in the next versions of its iPhone and iPad. And while the technology continues to stay atop the leaderboard as the payments industry’s ideal mobile-payments method, at least one observer believes barcode technology ultimately will prevail.

Contrary to what debit card issuers claim, merchants do not want a “free ride” on debit card interchange, contends a prominent convenience-store owner who has spent years lobbying for changes in payment card interchange-rate policies.

Consumers are starting to spend again, which is helping Total System Services Inc., or TSYS, grow its payment card processing services after a tough year during which it lost several clients.

WEST DOVER, VT.–Their silence on the Federal Reserve Board’s proposal to regulate debit card interchange rates could be counterproductive for independent sales organizations and merchant acquirers, Holli Targan, president of the Electronic Transactions Association, told attendees here at the Northeast Acquirers Association conference.

Visa International has sold its 10% stake in CBSS, an issuer of prepaid benefits and meal cards, to the Brazilian banks Banco do Brasil and Bradesco, parent Visa Inc. announced Jan. 26.