Fintech

Providers of rapidly changing payments products such as prepaid cards, automated payments and dispute resolution are continuing to turn to independent sales organizations to reach targeted merchants.

Banking and payment technology provider a FIS has completed its acquisition of payment processor Clear2Pay, a transaction it started early last month.

Small businesses can be hard to reach with new payments technology, so the Small Business Payments Co. (SBPC) is incrementally adding functions in an attempt to ease automation.

First Data made four executive appointments as part of its diversification beyond payments processing to include a broader set of merchant services. Its updated lineup, announced Oct. 1, creates new roles for Barry McCarthy, Andrew Gelb, Sanjiv Das and Adam Rosman.

Qiwi, a payment services company based in Moscow, has added self-serve kiosks in JSC Tander convenience stores across Russia.

Western Union has added self-serve money transfer kiosks in Walgreens stores across the country.

Nearly two decades ago, Federal Reserve Bank of Boston's smart card program became a key means to eliminate the inefficiencies of cash use among military personnel. The payments industry has evolved substantially in that time, requiring the military smart card program to keep pace.

Bank of America plans to issue chip-based debit cards to customers next month, signaling a resolution of the long-standing issues plaguing EMV debit card issuance in the U.S.

By hiring former American Express executive Dan Schulman to lead an independent PayPal, the company is betting that his expertise — bringing innovation to a well-established international payments company — can ensure PayPal's survival.

InComm will work with the Merchant Customer Exchange to support digital gift card and loyalty programs for retailers, while also expanding MCX's CurrentC mobile wallet to more locations.