Revolution Money has announced that Fifth Third Bank has joined its Revolution Money network as an issuing bank. According to Revolution, "the combination of Fifth Third Bank’s card-issuing capabilities with Revolution Money’s marketing and customer servicing and communication capabilities will provide a robust platform for expanded adoption of RevolutionCard."

Revolution Money Chairman Ted Leonsis appeared on CNBC this morning to discuss the deal with Fifth Third. He was joined by Jim Robinson III, former Chairman and Chief Executive Officer of American Express, who recently invested in and joined the board of Revolution Money and Steve Case, Co-Founder of AOL and Chairman of Revolution, LLC. READ MORE

MasterCard has announced that Fifth Third Bank is now issuing the World Debit MasterCard card - which MasterCard calls "the industry’s only premium debit card that provides U.S. consumers with access to enhanced rewards, unique offers and savings opportunities and greater purchase protection. By offering World Debit MasterCard to its customers, Fifth Third Bank is now providing a custom-tailored debit product that meets the unique, everyday spending needs of its high-spend and reward-seeking debit cardholders." READ MORE

Fifth Third Processing Solutions has announced that it has entered into an agreement to provide a patient payment system from mPay Gateway to its physician practice customers. According to the company, "mPay Gateway's software solution enables health care providers to calculate the patient's share of a bill for service and obtain payment authorization before a patient leaves the office, eliminating billing hassles and reducing bad debt by up to 50 percent. The patient is actually charged only after the health care provider settles with the insurance company." READ MORE

Western Union and Fifth Third Bank have announced an agreement to offer the Western Union global money-transfer service at Fifth Third’s more than 1,300 banking center locations in 12 states. The Western Union global money-transfer service, a new service offering for Fifth Third accountholders and walk-in consumers, will be available in the next several months. READ MORE

MasterCard Worldwide has announced a multi-year contract extension with Fifth Third Bank for it to continue its partnership with MasterCard, issuing Credit and Debit MasterCard cards for both consumers and corporations. READ MORE

Fifth Third Bancorp and Advent International have announced entering into a definitive agreement whereby Advent International will acquire a 51% interest in Fifth Third's processing business through the establishment of a joint venture that values the new company at approximately $2.35 billion before valuation adjustments by either party. Fifth Third will retain the remaining 49 percent interest in the new company, Fifth Third Processing Solutions, LLC. READ MORE

In an article by Peter Lattman and Dan Fitzpatrick, the Wall St. Journal reports that "Fifth Third Bancorp is expected to announce Monday that it has agreed to sell a majority interest in its payment-processing unit to private-equity firm Advent International Corp." According to the article, Advent will pay Fifth Third $561 million in cash for 51% of the business. Apparently both Visa and MasterCard dropped out of the bidding for the Fifth Third unit.