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- The Consumer Financial Protection Bureau’s most recent analysis of card issuing practices found that in the first half of 2023 small banks and credit unions tended to offer lower interest rates than the top 25 issuers. For consumers with scores between 620 and 719, the median annual percentage rate for a large issuer was 28.2%. For a small issuer it was 18.15%.
- NCR Atleos Corp. completed the 2023 fourth quarter with $1.098 billion in revenue, up slightly from $1.065 billion in the 2022 fourth quarter. It posted a $160 million compared with a $5 million profit in the year-prior quarter. Full 2023 revenue of $4.2 billion increased 2.4% from $4.1 billion in 2022. For all of 2023, NCR Atleos had a $128 million loss compared with a $107 million profit the year prior. NCR Atleos became a separate company from NCR Corp. in October.
- Fraud detection provider Nice Actimize released three financial crime detection and automated process tools that incorporate generative artificial intelligence.
- UATP, a payments processor for multiple airlines, said its Enhanced Intermediate Server technology has received an approval from the U.S. Patent and Trademark Office. The technology aims to improve speed and efficiency in transaction processing for clients using the UATP One platform.
- E-commerce platform Tilopay and gateway First Atlantic Commerce launched payments services on four e-commerce platforms, Shopify, VTEX, BigCommerce, and Wix.
- Cryptocurrency-wallet platform RockWallet announced it has acquired the customer accounts of Wyre, a crypto service that shut down in June. The number of accounts was not released.
- Nexo, a Lithuania-based financial institution specializing in digital assets, has recruited payment-protection technology from fraud-prevention specialist Sift.
- Prepaid products specialist SurgePays Inc. appointed Derron Winfrey vice president for business development. Winfrey joined the company in 2019 when SurgePays acquired ECS Prepaid, which he had founded.
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