Cards

Credit unions' credit and debit card portfolios could see a surge this week as the online retailer offers two days of deals, while the industry's regulator is set for a cybersecurity update.

The $3.1 billion-asset institution's product will not carry any fees and offers a variable APR.

For suppliers, getting paid by card is the fastest way to get their money in the bank. On the buyer’s side, virtual cards are the most secure payment method, and they can also generate rebates, says Nvoicepay's Kristin Cardinali.

It won’t be too long before the majority of banks globally will instantly issue, driven by the practical need to reduce physical contact during the pandemic, says ME Bank’s Steve Price.

Since July, Visa has noticed an uptick in unemployment insurance fraud with prepaid cards being used as a key disbursement vehicle. And the best solution may be rooted in technology, not law enforcement.

Atlanta-based fintech Greenlight has raised $215 million in a Series C round and announced that it has achieved a valuation of $1.2 billion, giving it unicorn status.

PayPal is bringing its contactless Business Debit Mastercard rewards card into five additional European countries.

Financial Software and Systems is upgrading the card management technology for Everlink Payment Services in Canada, converting the legacy card issuing and transaction processing systems to a single digital platform.

The fintech, which spent most of the last decade touting various alternative ACH-powered faster payments approaches, is adding the more mainstream option of debit push payments in its latest iteration.

New analysis from CO-OP Financial Services showed credit union members veering closer to traditional card usage, but the lack of additional pandemic relief could hamper interchange growth this fall.