Fintech

Payment cards can sometimes do more than just make purchases. Some pack in odd functions; others are high-tech takes on the aging magnetic-stripe card.

First Data is partnering with The Members Group to offer financial institutions a streamlined process for issuing EMV-chip cards.

Guests at some Marriott, Sheraton, Holiday Inn and other hotel properties had their credit card data exposed in a breach that occurred between March 20 and December 16 last year, according to hotel management firm White Lodging Services Corp.

Target Corp. will move toward EMV smartcards and chip-and-PIN technology at least six months sooner than the card networks' October 2015 timeline for the security measure, says John Mulligan, Target's chief financial officer.

Green Dot Corp. is making investments to expand its existing relationships and create new partnerships to get its products in front of consumers. These moves are designed to both address the rising competition in the prepaid industry and diversify its operations as a financial institution.

ATM and branch locator apps can serve a valuable purpose for consumers seeking cash in unfamiliar territory, but there are many hurdles to keeping their data current and the machines properly branded.

Consumers in December filed 1,254 complaints with the Consumer Financial Protection Bureau against a total of 383 debt collectors. The status of the complaints include 1,246 with timely responses.

After seeking public input about payment preferences, the Transport for London will no longer allow cash or coin payments on the city buses.

The likes of Apple and Amazon are becoming bigger threats to incumbent payments companies, but MasterCard CEO Ajay Banga says his company views these players as potential allies.

Payroll cards have gotten a lot of bad press over the past year, but the product is nevertheless a bright opportunity, says Rick Savard, CEO of UniRush, the company behind the RushCard prepaid cards.