Fintech

Wells Fargo & Co. is finally going after the young and points-hungry by boosting rewards on one of its premium cards.

Making a difference for members of the military, students, the needy and more.

While Europe is still making sense of an international Visa outage in early June, fintech disruptor TransferWise experienced its own outage that lasted up to 11 hours on Thursday, with website, app and card payments unavailable to the company’s 1 million-plus users.

Called Mezu, the P2P platform has been live for about a week and uses a location-based code to execute payments, avoiding the need to even share usernames or other identifying information to move money.

The quest for fast payments is advancing on the consumer side, but most banks are said to be undecided about a host of issues tied to speeding up transactions between businesses.

The sharing economy, declining cash usage, mobile banking and more will all have a major impact on how credit unions do business less than a decade from now, according to one analyst.

NovoPayment, a payment provider focused on Latin America, is working with Visa to help local banks work with Latin American businesses to migrate from their high levels of cash usage to digital payments.

In the evolution of mobile wallets, many companies have toyed with the idea that rewards would be a key driver for adoption. Others insist the improvements in speed and convenience are compelling enough on their own. Apple has parlayed both concepts into its promotions.

Founded in 1971, First Data may not have the glow of being a trendy startup. Green Dot, founded in 1999, is in the same boat. But under the hood both companies have done much to keep up with the innovators.

The company agreed to aquire United Bancorp. for $51 million.