Fintech

Parchment, Mich.-based Advia Credit Union is set to complete its acquisition of Janesville, Wis.-based Mid America Bank, and analysts say it could be part of a significant shift within the CU industry.

Portsmouth, N.H.-based Northeast CU and Ocean Communities FCU of Biddeford, Maine, announced a planned merger pending approval from the NCUA, the New Hampshire Banking Department and the membership of both institutions.

Time is running out to submit nominations for Credit Union Journal's 2016 Best Practices Awards. The deadline is Aug. 1.

Many times, bitter rivals must set aside their differences for the common good. This has happened a lot in recent years as the payments industry adjusts to the fast pace of innovation.

Retailers insist that the EMV migration in the U.S. is weak because there is no PIN requirement to verify chip-card transactions, a process that is standard practice in other nations.

There may be bumps along the way, but PayPal, Mastercard and Visa all share the same goal, according to Mastercard CEO Ajay Banga.

Seven months after disclosing a test enabling Venmo P-to-P users to buy goods and services in-app, the PayPal unit has rolled out the "Pay with Venmo" feature to all users and expanded the list of participating merchants.

Despite the hurdles facing technology giants in offering payments services, they remain keenly interested in the sector and more traditional service providers should stay on alert.

B of A says customers are becoming inundated with wallet options, so they are holding out on building their own.

Now is the time to correct the mistakes of interchange price controls that harm consumers and community financial institutions to the benefit of merchants.