Fintech

EMVCo, the EMV standard governing body has released specifications for payment tokenization, a process that it says will strengthen security on card-not-present transactions initiated by EMV-chip cards.

NEW YORK — Fourteen credit unions will participate in a pilot program to test "Borrow & Save," which offers low-and-moderate income U.S. consumers small-dollar loans as an alternative to payday lenders.

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.

As city governments seek out new payments technology, they may show less interest in standalone products.

The people who guide tourists to the many attractions of Las Vegas will have the option to be rewarded with a prepaid Visa card, replacing a system of using cash and checks to pay commissions.

First Data Corp. has appointed Frank Bisignano as the Atlanta-based company's chairman, adding to his role as chief executive officer.

MasterCard and Visa have formed a new group to improve efforts in the U.S. to migrate to the EMV-chip cards other security methods.

Clinkle Corp., a San Francisco startup that specializes in mobile transactions, has appointed Josh Brewer as its vice president of design.

PHOENIX -- More than a year after Arizona Federal Credit Union decided to charge a controversial $3 monthly membership fee, the $1.2 billion-asset CU reports the dues have created their desired effect.

JACKSONVILLE, FLA. -- State Employees Credit Union has proposed merging into First Florida Credit Union to create an institution with more than $700 million in assets and nearly 60,000 members.