Fintech

Why choose a former Visa chief to run a custody bank? Because to survive long term, Bank of New York Mellon will have to look more and more like a payments company.

Despite the best efforts and significant budgets of those who seek to replace cash with more efficient digital alternatives, paper money refuses to shuffle off its mortal coil.

Investors blame Washington gridlock, lowered expectations for price drop; Wells Fargo looks to narrow its focus as it jettisons some units.

The bank's Costco card portfolio boosted profits (again), as did internal growth from store-branded cards from Home Depot and Best Buy. Citi’s card business is avoiding — for now — the pain in the retail sector.

AERO FCU, Truliant FCU join for debit card processing, call center support.

The number of channels consumers use to pay their bills is unlikely to decrease anytime soon, so billers that are able to check off every bill payment channel will enjoy a competitive advantage, writes Jim Lester, senior vice president of product management and strategy for biller solutions at Fiserv.

Des Moines CU has expanded its FOM to include first responders, government employees and more.

Payments technology provider Cardtek and partner Axis Bank have launched a national open-loop payment system featuring a contactless card for public transportation and other purchases in India.

The North Carolina company could issue $200 million in new securities over time to fund acquisitions and other investments.

Seasoned payments industry observers predicted it would take time for mobile wallets to catch on, but few thought adoption would reverse course so soon.