Technology

Bank of America this week reported that it quadrupled the number of modified mortgages for its customers in the past month alone.

Woodforest Financial Group has renewed an agreement with the Pulse electronic funds transfer network in which Pulse will provide the privately held bank holding company ATM and PIN-based point-of-sale debit services, both companies announced recently.

Social-networking site Multiply has inked a deal for settling online payments with G-Xchange Inc., a statement from the telecom operator said. G-Xchange is a wholly owned subsidiary of Philippines-based Globe Telecom.

A ban on illegal cellular towers is causing problems for credit card transactions in the Indian capital city of New Delhi, local newspaper The Times of India reports. Several shops at high-end malls in the city reported credit card failures because of failed authorization calls caused by drops on cellular connectivity.

Monitise Americas LLC is planning to introduce a version of its Mobile Money application for phones that use Google Inc.'s Android operating system.

The Internal Revenue Service, in probing how $100 billion of credit card payments escape sales and income taxes each year, is looking at clients of processors including First Data Corp.

Cambridge University researchers looking into chip-and-PIN security say they successfully tricked a point-of-sale terminal into accepting a “dummy” PIN for a smart card using a “man-in-the-middle” attack.

Total Systems Solutions Inc., also known as TSYS, is entering the Italian market for the first time.

A new regulation approved by the Financial Supervisory Service of Korea could slow domestic growth in mobile payments, an official from the regulator confirmed. Under the new policy, all transactions initiated with advanced handsets would be subject to the same security requirements that control online transactions initiated with personal computers.

A small mobile-phone Near Field Communication payment trial is under way in Slovenia designed to test consumer use of MasterCard and Maestro contactless payments, Inside Contactless announced today.