Fintech

Some banks long have sold postage stamps through ATMs. The U.S. Postal Service plans to return the favor by selling payment cards at post offices.

BILLINGS, Mont. – Valley FCU of Montana has agreed to acquire Cody (Wyo.) Schools FCU, expanding its field of membership through all of Park County, Wyo., including Yellowstone National Park.

Using mobile phones to track and redeem credit and debit card loyalty points soon may become key elements of loyalty marketing, according to Andrew Davidson, senior vice president at Mintel Comperemedia.

Fifth Third Processing Solutions LLC has agreed to supply ATM and debit card transaction processing and other services to six credit unions, the Cincinnati-based processor announced Jan. 18.

Citing improved credit quality and higher overall purchase volume, Citigroup Inc. on Jan. 18 reported a $623 million profit for its Citi-branded credit card operation for the fourth quarter ended Dec. 31; the unit reported a $51 million loss during the same period a year earlier. Revenue rose 71%, to $4.07 billion from $2.38 billion.

MasterCard Worldwide will be the exclusive brand of the Transport for London’s Oyster card wallet as the international card brand hopes to raise consumer awareness of its PayPass contactless-payment service, MasterCard announced Jan. 17.

Global Payments Inc. will provide multi-currency processing services to merchants in the United States and Canada through a deal with Planet Payment Inc., the Atlanta-based merchant processor announced Jan. 18.

Netherlands-based RePay International Ltd. and Chinese loyalty-management company China Rewards Pvt. Ltd. jointly plan to introduce the ClimaCount Card Scheme, a carbon-offset program, to the Chinese market, the two companies announced on Jan. 11.

Merchant-level salespeople who use POS Portal Inc. as their point-of-sale equipment distributor now have a mobile-phone tool that enables them to check the availability and wholesale pricing of devices, POS Portal announced Jan. 4.

Punjab & Sind Bank Ltd. has awarded a contract to HCL Infosystems Ltd. to provide smart card technology support for a rural financial-inclusion project, according to a regulatory filing by the state-owned bank.