Bank technology

IMGCAP(1)]

E-Commerce Association of Singapore has agreed to offer its online merchant clients payments services from PayPal Inc.

Prosper Marketplace Inc. said Friday that it raised $14.7 million in venture capital funding from two new investors and several previous financial backers.

BOSTON — As consumers become increasingly willing to interact online, with each other and with businesses, financial companies are realizing they have less freedom over how to design their Internet services.

The Purchase, N.Y., company announced Thursday that it had created a research and development unit, MasterCard Labs, to accelerate the process of turning innovative ideas into real products that can generate real revenue.

Prepaid cards are becoming a popular tool for criminals that need to manage large sums of money, according to law enforcement officials.

Community banks are planning to improve their mobile banking offerings, according to research by Banc Investment Group LLC.

Lending Club Corp. said Wednesday that it has raised $24.5 million in venture capital funding.

Intuit Inc. has developed a tool that lets consumers track their cash purchases in its Mint.com personal financial management service.

Aptys Solutions LLC said it is counting on changes to the automated clearing house system to help its mobile business-to-business payment system take off.

IMGCAP(1)]

Paper checks are on the way out but Deluxe Corp. still sees opportunities to use that traditional payment method to expand its business.

Bank of America employee faces five years in prison for ATM scam; whole-machine ATM theft on the rise; gift cards at the center of Facebook scam; and more.

A holistic approach to stress testing also can serve to support compliance initiatives, because it can ensure a transparent and auditable process that can clearly demonstrate organization-specific risks and mitigation plans to reviewers and regulators.

Banga said developing markets, especially Asia, and emerging payments technologies such as mobile phones will be vital for MasterCard.

Hypercom Corp.'s HyperSafe remote key system, which reduces the burden for securely updating payment terminals, is being made available to clients of the processor First Data Corp.

WePay Inc. has introduced an online person-to-person payment service that enables groups and individuals to collect, manage and spend money.

The Bank of Italy has ordered a halt to further issuance of American Express credit cards in Italy. The central bank took the action after inspections revealed compliance gaps related to rules covering usury, money laundering and transparency.

IMGCAP(1)]

Wal-Mart Stores Inc. has joined the Secure Remote Payment Council, a trade group promoting mobile payments and online PIN debit.