Payments/Credit/Debit

The issue of credit and debit card interchange appears poised to get more attention this week as the House Judiciary Committee's Anti-Trust Task Force has scheduled a July 19 hearing on the issue.

TNB Card Services, the card portfolio purchasing and processing arm of credit union-owned Town North Bank has renovated its card rewards program to make it more accessible and better known to credit unions.

Fidelity National is continuing to purchase its way to becoming the largest company in the center of the credit union card industry, announcing on June 27 that it has inked a deal to purchase eFunds, one of the largest processors of EFT transactions.

Visa USA, the nation's largest credit and debit card brand, has begun looking toward what it called a generational shift in spending patterns as the purchasing momentum moves from Baby Boomers to younger generations, which Visa identified as Echo Boomers.

Credit Unions that have their debit and credit card processing with different firms do not necessarily benefit from consolidating all their card business with one card processor, according to research conducted and released by CO-OP Financial Services.

Credit Union Service Corporation, the nationwide shared branching network headquartered in Duluth, Ga., has become part of CO-OP Financial Services, the two organizations announced today.