Fintech

FARMINGTON HILLS, Mich. -- Community Choice Credit Union awarded $886,902 to members as part of the first payout through its new member rewards program.

While Discover has a much smaller debit-card network than Visa and MasterCard do, the upstart gained ground in 2012, as Discover benefited from new routing rules.

UniRush, the prepaid card marketer co-founded by hip hop mogul Russell Simmons, has launched a portfolio of new designs for its RushCards as part of a broader marketing and branding strategy.

Visa has developed a new service that aims to reduce prepaid card fraud.

TSYS has renewed an agreement Missouri-based Commerce Bank to handle its credit and signature debit cards, adding PIN debit services as well.

The U.S. payments industry has long agreed to disagree on the way to properly route EMV debit transactions, stalling the country's shift to chip-based cards. First Data hopes its decision to support and share Visa's technology will finally break the stalemate.

Small federal credit unions can improve their bottom lines by tapping into two often overlooked sources of funds, a CEO who has taken advantage of them told attendees a CUNA Governmental Affairs Conference forum.

JPMorgan Chase is the first bank to adopt a new, standardized disclosure box for its prepaid cards that was developed by Pew Charitable Trusts.

The prepaid card company InComm and online payment service provider Money Online (MOL) plan to debut point-of-sale-activated prepaid cards in Malaysia, Singapore and Thailand.

Visa Inc. and First Data's Star Network will share Visa's technology for routing debit transactions initiated through EMV chip-based cards.