Michigan State shooter tapped cash, debit card
Payments Dive
JUNE 15, 2023
A gunman who killed three Michigan State University students in February used more than one payment method to buy guns. This coverage is part of a Payments Dive series.
Giving The Gift Of Michigan With Curated Boxes
PYMNTS
SEPTEMBER 19, 2019
Mitten Crate uses Shopify Payments and Stripe on the backend for commerce (via an app called Recharge). Consumers can use credit cards, Apple Pay, PayPal, Google Pay or Amazon Pay for their purchases. It’s all “nice, local, Michigan-made food products,” Founder Cory Wright told PYMNTS in an interview.
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Trending Sources
Visa pilots card-not-present security app with Michigan State University FCU
Payments Source
NOVEMBER 17, 2020
The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.
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Darden Cyberattack Puts 567K Cards At Risk
PYMNTS
AUGUST 23, 2018
Darden Restaurants announced Wednesday (August 23) that the data on 567,000 payment card numbers may have been exposed. The company said payment card information — including card numbers — from visitors who went to the restaurants from Nov. 3, 2017, through Jan. 2 2018 may have been affected.
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Today In Payments: DOJ Approves Mastercard's Finicity Acquisition; Airbnb Files For IPO
PYMNTS
NOVEMBER 17, 2020
In today’s top payments news, the Department of Justice approved Mastercard’s acquisition of Finicity, and Airbnb filed for an IPO that could value the company at $30 billion. Amex Partners With PayPal, Venmo To Help Cardholders Split Payments . DOJ Green-Lights Mastercard's $825M Acquisition of Finicity.
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Clinc Teams With Visa To Bring Digital Banking Tech To FIs
PYMNTS
MARCH 2, 2020
To provide its digital banking experience to more financial institutions, Clinc is teaming with Visa in a partnership that brings artificial intelligence (AI) technology to payments and banking customers. The voice capabilities of Clinc encompass bill payments, rewards, fund transfers, card activation and more, according to an announcement.
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Survey Shows Fall In US Consumer Sentiment
PYMNTS
OCTOBER 12, 2018
Indicating that Americans may have a less favorable view of their own finances, the University of Michigan Survey of Consumers fell to a gauge of 99 for October. However, a lack of access to credit and poor credit ratings often get in the way of managing bill payments and achieving financial well-being. The expected reading was 100.4
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Ingo’s Edwards Plays The Inside Straight On Online Gambling
PYMNTS
JANUARY 22, 2021
But allowing each state to create a different set of rules, he said, remains a problem for a payments processor. The way Tennessee wrote the rules, Ingo as a payment processor has to comply with almost the same kind of vetting that they do as the gambling entity, and we can’t comply with that,” Edwards said.
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Industry Slant // Bo Berg Talks Giant Schnauzers, DJing, Financial Services
Perficient
NOVEMBER 8, 2021
In 1993, a guy from the University of Michigan came up with something called Mosaic, which was a browser. I got deep into payment networks and worked closely with advisory boards. I touch a variety of sub-industries, including retail banking, commercial banking, and payments. MM: What happened next? Rapid-Fire Questions.
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Walmart Pay Launches In 16 States, DC
PYMNTS
JUNE 23, 2016
The retail giant’s payment method is finally here. Back in December, Walmart announced plans to enter the mobile payments game with its own proprietary payments platform by turning the Walmart.com app into the way that consumers can pay at the physical point of sale.
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105 States Continue with Amex Steering Suit, DOJ Abandons Antitrust Efforts
PYMNTS
JUNE 5, 2017
The Justice Department may have left its skirmish against American Express and the issue of “steering,” but nearly a dozen states are battling on against the card issuer in their own fight. On Friday, the Justice Department announced that it would not seek U.S.
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Slow EMV Conversion Invites Fraudsters to Self-Serve at Gas Stations
FICO
JUNE 11, 2020
With an October 1, 2020 deadline to have EMV chip card readers installed on the nation’s 1 million fuel dispensing pumps, the number that remain to be converted could be as high as 75%, industry experts say. Nevada, Florida and Michigan have the highest unattended gas fraud rates, while the lowest are in New Hampshire, Alaska and Maine. .
Small Business Optimism Begins Its Downswing
PYMNTS
JANUARY 9, 2019
” Separate data from the University of Michigan’s index of consumer sentiment showed an increase in consumer confidence last month, though another report from the Conference Board also found rising concerns over the economy, reports said.
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Grocery Roundup: New Amazon Fresh Store, SpartanNash Puts Incentives In ‘Fast Lane,' Walmart On Autonomous Delivery
PYMNTS
NOVEMBER 12, 2020
As it stands, 69 SpartanNash stores in Wisconsin, South Dakota, North Dakota, Nebraska, Minnesota and Michigan provide the Fast Lane offering. Fast Lane personal shoppers are also SpartanNash associates, and they follow “all company COVID-19 protocols” when packing orders, according to SpartanNash.
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USAT: Why Unattended Retail Is Commerce’s ‘Great Equalizer’
PYMNTS
NOVEMBER 8, 2019
The rise of unattended retail – from yesterday’s vending machines full of candy and soda to today’s upscale self-service conduits where one can get kiosk champagne at a hotel (it’s true!) – all started with digital payments. But Duska cautioned that merchants must be flexible in the payment options on offer at the kiosk or vending machine.
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US Consumer Sentiment Looks Uncertain As Holiday-Shopping Season Approaches
PYMNTS
SEPTEMBER 14, 2020
government stimulus payments hit consumer accounts, about a third of recipients pushed those funds directly into their savings accounts instead of spending the money (going against what the government had been hoping for). It also found an increase in the need for consumers to use credit cards to pay for daily essentials.
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US Bankcards Industry Benchmarking Trends: 2022 Q3 Update
FICO
DECEMBER 6, 2022
Sources: University of Michigan, U.S. One more unknown is how the expiration of student loan payment deferment and the upcoming loan cancellation will impact the overall cash flow of consumers. Payments and interest accrual due dates have been extended into 2023, after almost three years of suspension. Usage & Payments.
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How mPOS Helps Vendors Keep On (Food) Truckin’
PYMNTS
FEBRUARY 2, 2018
Food truck operators are increasingly investing in mPOS systems to serve these hungry and hurried diners, opting for offerings that accept a wide range of payment methods at a moment’s notice. has meant adapting to their payment habits. Some want to pay with cash, while the bulk prefer cards or mobile. Adding analytics.
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Gulf Winds’ Data Driven Approach To Member Retention
PYMNTS
DECEMBER 23, 2019
billion in credit card debt and $382.9 Nine member CUs of the Southern Michigan Chapter of Credit Unions each donated $25,000 to a charity that pays off medical collection debts. Credit unions (CUs) remain strong, despite the many challenges they face. billion in car loans, a 6.9 percent and 4.1
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How Credit Unions Help SMBs Get Creative To Navigate Market Uncertainty
PYMNTS
DECEMBER 2, 2020
Kelli Ellsworth-Etchison of Michigan-based credit union LAFCU says the credit union business model can offer small business owners an advantage over services provided by larger financial institutions. Financial service providers themselves similarly found themselves in a challenging situation, and credit unions were no exception.
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165 TRENDING: Voice Recognition Gets Its Own Backup Biometrics
PYMNTS
OCTOBER 24, 2017
Payments technology provider Elan Financial Services, for one, announced it will now send two-way fraud alerts to owners of Elan processed debit cards via a new partnership with Ondot Systems. In a recent interview with PYMNTS, Kang G.
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June’s Top 12 Mobile Pay Moments
PYMNTS
JUNE 30, 2016
And what better way to mark that milestone than with a monthly recap of the Top 12 news items in one major market in the payments ecosystem: mobile payments. 47 percent of consumers surveyed said they don’t use Apple Pay because they are satisfied with their current payment method – even in a post-EMV world. •
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Tim Hortons And The Innovative Donut
PYMNTS
AUGUST 3, 2017
Or at least one could have had they been at a Tim Hortons on July 1 in one of three American states (Ohio, Michigan and New York) with a desire to celebrate Canada Day so burning they were willing to consume a honey dip donut covered in cheese curds, potato wedges and gravy. Moving To Mobile Payments . Android Pay is not yet an option.
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101 NY Sues Domino’s For Dysfunctional Payroll Software
PYMNTS
MAY 26, 2016
The firm’s headquarters are in Michigan. Recently, similar cases have focused on company use of payroll cards , a controversial tool that critics say forces employees to pay fees to access their wages. Proponents of payroll cards, however, argue that they allow underbanked workers to access key financial services.
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5 reasons why cash doesn’t go out of fashion
NCR
SEPTEMBER 12, 2016
The availability of contactless cards, schemes like PayPal and mobile payment services for Apple and Android devices – added to a plethora of credit and debit cards – means global consumers have more ways to complete transactions than ever before. Card acceptance isn’t universal.
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How Ghost Kitchens Are Altering The QSR Landscape
PYMNTS
JANUARY 21, 2020
Supporters of the measure said it was the correct move for people who don’t have credit or debit cards, as well as those who prefer to pay with currency for privacy reasons. Based in Detroit, Michigan, Little Caesars has stores in all 50 U.S. to do so, per news in March. states and 24 countries.
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134 The Upside Of Hurricommerce
PYMNTS
OCTOBER 8, 2016
But every once and a while, the really bad whether coughs up a really good idea for payments or commerce. When something is destroyed you don’t necessarily rebuild the same thing that you had,” said Mark Skidmore, an economics professor at Michigan State University. For example. The rest, as they say, is history.
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Sizzle Or Fizzle: Facebook, Online Lending, Cash – And The Twilio Surge
PYMNTS
JUNE 24, 2016
Is payment enabling those storefronts next? . Costco Card. The Costco Card has generated a lot of buzz. But all that buzz was based on anticipation and the hope that the card would be all it is cracked up to be. Well, the card has dropped, but unfortunately, it may not be so dearly loved as it was dearly anticipated.
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Opploans Personal Loans Review: For Borrowers With Bad or No Credit
MyBankTracker
MAY 23, 2020
On-time payments can help build credit. Despite Opploans low maximum loan amount, you can take up to 36 months to repay the loan (varies by state and loan amount) , giving you the flexibility to customize your monthly payment. It directly impacts your monthly payment and how much the loan will cost. Borrowing Amounts.
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Wells Fargo’s Q2 Disappoints After Scandals
PYMNTS
JULY 13, 2018
Wells Fargo also announced plans to sell 52 branches in Indiana, Ohio, Michigan and parts of Wisconsin to Flagstar Bancorp. The San Francisco-based bank had a total of 5,751 retail branches by the end of the second quarter, citing 114 branch consolidations during the first half. The bank reported 5,977 retail branches in the year-ago quarter.
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What Is Powering The Emerging Pawnaissance?
PYMNTS
SEPTEMBER 17, 2019
At the low end of the spectrum, consumers will pay an APR of 25 percent a month, roughly comparable with a high-rate credit card. Interest rates on pawn loans vary as they are regulated by states. On the more typical end, however, pawn loan APRs tend to ring in at around 120 percent a year.
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Amazon Or Walmart? Who Won 2019’s Race For The Consumer’s Whole Paycheck
PYMNTS
DECEMBER 31, 2019
In April, both Walmart and Amazon announced that they, among a handful of other retailers, are participating in a one-year pilot program that will allow SNAP beneficiaries to use their benefit cards to buy groceries ordered online. The pilot launched in New York state.
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FinDEVr Live: Quisk Explains How it Built a Digital Payments SaaS Platform
Fintech Labs Insights
OCTOBER 7, 2015
is a Silicon Valley based start-up that partners with financial institutions and other organizations to enable anyone to use their money without needing cash or cards. Quisk provides a digital services and transaction processing platform for integrated mobile payments and digital marketing and loyalty programs. Praveen earned an M.S.
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Coca-Cola Credit Union Chooses Bankjoy As New Mobile Banking Provider
Fintech Labs Insights
APRIL 17, 2017
The new platform will include billpay, mobile deposit, PFM, card services, and wire transfers, as well as a major redesign of CCCU’s website. ” Founded in 2015 and headquartered in Detroit, Michigan, Bankjoy demonstrated its Bankjoy API at FinovateFall 2016.
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Fintech Fundings: 15 Companies Raise $125 Million Week Ending May 1
Fintech Labs Insights
APRIL 30, 2015
Electronic gift card platform. Online & mobile payment solutions in Southeast Asia. Digital payment platform aimed at construction industry . Payroll and payment solutions for the underbanked. HQ: Grand Rapids, Michigan. Payments via social media. Tags: Prepaid, gift card, non-profits, mobile.
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GonzoBanker Awards 2017
Gonzobanker
DECEMBER 19, 2017
Payments chaos. Credit Union Merger of the Year – Goes to Lake Michigan Credit Union and its CEO Sandy Jelinski for acquiring Florida-based community bank Encore. The Get Outta Dodge (and Focus) Award – Goes to Capital One for exiting a significant mortgage business to focus on cards and direct banking. Heavy-handed regulators.
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Fintech Fundings: 15 Companies Raise $51 Million Week Ending Dec 25
Fintech Labs Insights
DECEMBER 30, 2015
HQ: Troy, Michigan. Mobile & online payments. International payments. Mobile bank/card. Tags: SMB, payments, invoicing, billing, billpay, accounts payable, payroll. Here are the deals by size from 19 Dec to 25 Dec 2015: PokitDok. Person-to-person lender . Latest round: $35.1 million Series B. Total raised: $40.7
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The key challenges posed by card skimming
NCR
JUNE 2, 2016
As it takes advantage of inherent weaknesses in magnetic stripe cards, they can be used at any location where a user needs to swipe their card, from POS terminals to fuel pumps. Criminals view skimming as a low-risk, high-reward tactic that gives them a range of options for exploiting cards. A growing problem in the US.
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How community banks can help young homebuyers
Independent Banker
JUNE 30, 2022
For banks selling loans in the secondary market, options include loan products available through the Federal Housing Authority, Freddie Mac and Fannie Mae that offer lower down payments, competitive rates and flexibility on qualifying. Flexibility needed. Budgeting is especially important for first-time homebuyers, notes Burmis.
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How to Avoid Life Insurance Fraud
MyBankTracker
SEPTEMBER 10, 2020
Maybe the person applying doesn’t want to share that they’re a cancer survivor since, well, that, too, could raise the monthly payment. In Michigan, just to pick a state at random, not only might you get four years in jail for insurance fraud, you could be fined up to $50,000. You could be fined.
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Top 21 Online Digital Accounting Services for Small Businesses (SMB): Jan 2022
Fintech Labs Insights
JANUARY 25, 2022
HQ: Detroit, Michigan. SMB Challengers: Rho Delivers Integrated Card, Payments & Checking Experience. . – Articles: 2 (Crunchbase). – Linkedin : 2,100 followers (34 employees). – Twitter : 160 followers. Rating: 3.7 (6 6 reviews per Capterra ). FAB Score = 54. – Founded: 2015. Raised $47.8M Employees: (Pitchbook).
The 2019 GonzoBanker Awards
Gonzobanker
DECEMBER 20, 2019
Second Curve analyst Zack Maxfield opened a TD Bank checking account on his phone in nine minutes while he waited to speak with a teller at one of the bank’s branches, but waited an hour to fund the account and order a debit card. The 2019 Industry Oh Sh*t Moment Award – Goes to Apple and Goldman Sachs for the Apple Card launch.
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Finovate Fall 2016 Live Blog – Day 2
William Mills
SEPTEMBER 9, 2016
Demo: AutoGravity App – can see 4 fare offers and show payment and rate before they walk onto the dealership. You can look at life events such as marriage, credit card, new job, etc. The next step is catamera’s library of pre-built components including relationship summary (with Graphs), spending analytics, upcoming payments, etc.
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40 Finovate Debuts: A Look at Stratos’ Digital Card Issuance Platform
Fintech Labs Insights
JUNE 12, 2015
That is, the startup takes the information stored on multiple cards, makes it digital, and stores it on a single card. Based in Ann Arbor, Michigan. Stratos card began shipping April 2015. The card’s non-rechargeable battery lasts two years. For end consumers: the Stratos card. Debit card.
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