Fintech

Western Union Co. plans to acquire one of its European funds-transfer agents, the Englewood, Colo.-based company announced Jan. 3.

Fiserv Inc. has hired a former H&R Block Inc. official as an executive vice president and its chief operating officer.

Company profits in the payment card industry generally are on track to increase in 2011 if credit and debit card purchase volume continues its post-recession growth. But the fortunes of the four largest card networks may vary significantly in 2011, a new report suggests.

VALLEJO, Calif. – Self-Help FCU, the two-year-old affiliate of North Carolina’s Self-Help CU, has received final regulatory approval to acquire 1st Pacific FCU in the biggest of six mergers which have created the nation’s fastest-growing credit union.

VeriFone Systems Inc. has completed its acquisition of Gemalto N.V.’s point-of-sale terminal business, VeriFone announced Jan. 3.

As part of a continuing effort to diversify its gift card base, American Express Co. is offering a prepaid Chinese Lunar New Year card for the second consecutive year. The Lunar New Year is Feb. 3.

Ukash is hoping a fraud-prevention service offered by Iovation will help to reduce the potential for improper use of its prepaid voucher service, the Portland, Ore.-based vendor announced Dec. 28.

In a major turnaround in plans, lawmakers in the Australian state of Victoria reportedly have proposed scrapping the Myki transit card system.

PayPal Inc. this year will set up its first foreign currency settlement platform in Chongqing, China, along with five international e-commerce centers under an agreement the unit of eBay Inc. signed with the Chongqing Municipal Government on Dec. 28.

Like the early-'90s floral dresses and flannel shirts that became fashionable again, two retro credit products — secured lines of credit and personal loans — staged a comeback in 2010.