Fintech

FORT WAYNE, Ind. — Fort Financial CU and ITT Employees' FCU here have announced plans to merge.

Fiserv, which owns the Accel debit network, has signed a license agreement with Visa for its common application identifier (AID), following a similar agreement last week between Fiserv and MasterCard.

HUNTINGTON, Ind. — Huntington Schools CU is now Partners 1st FCU after the two shops finalized a merger this week.

MANSFIELD, Texas — Texas Trust Credit Union says it wants to be a $1 billion institution by the end of 2016, and the CU is moving in that direction with double-digit growth in assets, loans and members last year.

Online commercial payments service provider Payza says it will provide credit and debit payment services to European Union merchants, with plans to expand to more countries throughout the world.

Fiserv, which operates the Accel debit network, spent two years evaluating the best way to route EMV debit transactions in compliance with federal mandates – but it abstained from working with the Debit Network Alliance, which is committed to the same cause.

Fiserv Inc., which operates the Accel debit network, has agreed to make MasterCard's common application identifier technology available for routing EMV debit transactions.

SelectCore, a Canadian company which specializes in prepaid products and services, has signed a five-year agreement to provide the online marketing firm Adbrokers with prepaid MasterCards to deliver commissions.

Three months after coming to light, the massive exposure of 40 million card accounts at Target Corp. still has the payments industry and consumers talking about what should be done to prevent this happening again. In the United States, that is.

Contactless card payments are building a fan base in the United Kingdom, where their use has spiked in the past year, but the product is still a long way from replacing magnetic-stripe cards.