Bank technology

Obopay Inc. is all but abandoning the mobile transfer service it offers to consumers now that it's learned — maybe too late in the game — that banks are where the money is.

IMGCAP(1)]

MasterCard Inc. said Monday that it has hired Andrew Ong to head its worldwide person-to-person money transfer efforts.

Wells Fargo & Co. is beefing up its business banking services with S1 Corp.'s automated clearing house product, S1 said Monday.

The improving economy is reviving merger and acquisition activity among banking technology vendors, but some deals could be troubling to bankers.

The improving economy is reviving merger and acquisition activity among banking technology vendors, but some deals could be troubling to bankers.

Jack Henry & Associates Inc. said it has agreed to buy iPay Technologies for $300 million from private-equity firms Spectrum Equity Investors and Bain Capital.

CyberSource Corp., the online payment provider that Visa Inc. is buying, is being sued by a pension fund that contends the $2 billion takeover will shortchange investors.

Bankers hoping to increase cross-sales can now parse spending details from their customers' checking, brokerage and credit card accounts — at other financial companies.

Global Payments Inc. is offering merchants in five new Asian countries the ability to accept China UnionPay cards.

The Scottsdale, Ariz., terminal maker reported a $375,000 first-quarter profit Wednesday, compared with a $9.9 million loss the year earlier.

Shares of Fidelity National Information Services Inc. soared more than 15% Thursday after The Wall Street Journal reported that the Blackstone Group LP private-equity firm was in talks to buy the Jacksonville, Fla., provider of banking technology.

Blackstone Group LP and other investors are in talks to acquire financial-data-processing company Fidelity National Information Services Inc., according to people familiar with the situation.

Jack Henry & Associates Inc. said its fiscal third-quarter net income surged 28%, to $31.6 million from a year earlier.

DocuSign Inc. said Wednesday that Idaho Central Credit Union would use its software to electronically sign loan documents.

Diebold Inc. said Wednesday it would upgrade the automated teller machines used by Alliance Credit Union and perform other outsourced banking services.

Visa Inc. may soon test a system for making contactless payments with an Apple Inc. iPhone using a case with a chip in it, according to reports.

An increase in data breaches and online fraud has security vendors betting that banks will embrace systems that use text messages, voice biometrics or secure browsers to better authenticate people and transactions.

IMGCAP(1)]

China UnionPay Co. Ltd. is under fire from domestic and foreign rivals that are vexed by its monopoly powers and want to gain entry to the country's rapidly expanding payments market.