Fintech

The "buy local" Buzz Points loyalty program is adding mobile marketing technology to increase payments volume for non-chain merchants.

WASHINGTON — Bank of America will pay $772 million to settle allegations by two regulators that it engaged in unfair fee collection and marketing related to credit card add-on products.

VeriFone Systems plans to offer a new portable card terminal that can accept EMV-chip card payments and uses several wireless technologies.

Stepped-up scrutiny of Internet payday lenders, online pharmacies and other merchants that regulators and law enforcement view warily is forcing the payments industry to adapt.

A new credit union service organization is helping credit unions collect on charged-off accounts and return "prior prime" members to their former CUs.

Digital coupon provider Coupons.com Inc. is offering consumers the option to link the site's offers directly to their credit or debit cards.

Gyft, a provider of virtual gift cards, plans to launch Gyft Cloud, a marketplace for merchants to sell their own digital gift cards with Clover Station, a tablet-based point of sale system developed by First Data Corp.

COLUMBUS, Ohio — Telhio Credit Union has acquired Shiloh Baptist Church FCU.

Hackers who raided the credit-card payment system of Neiman Marcus Group Ltd. belong to a sophisticated Russian syndicate that has stolen more than 160 million credit-card numbers from retailers over seven years, according to people with knowledge of the matter.

Data security provider Foregenix is in the thick of the endless war on cybercrime. And the payments industry's biggest weapons are no deterrent to fraudsters, says Andrew Henwood, CEO of U.K.-based Foregenix.