Bank technology

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.

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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.

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

MasterCard's online shopping portal is designed to offer discounts from participating merchants based on preferences set by users and data mined from their previous purchases.

MasterCard's online shopping portal is designed to offer discounts from participating merchants based on preferences set by users and data mined from their previous purchases.

Royal Bank of Scotland Group PLC has attracted at least 11 bidders for its Global Merchant Services business, valuing the unit at up to $3.8 billion, people familiar with the situation said Thursday.

Taiwantrade.com has signed a payments acceptance deal with the online payments provider PayPal Inc., according to an official from Taiwan's national business-to-business e-commerce platform.

Hoping to extend its reach to mobile merchants, USA ePay, a merchant-service provider, this week launched a portable card-acceptance machine that connects to Apple Inc.’s iPhone and iPod Touch products.

Mobile phones may soon be able to initiate automated clearing house transactions from checks, an advance that could hasten adoption of wireless devices for business-to-business payments.

The Phoenix terminal maker said Tuesday that Dirk Rossmann GmbH is purchasing more than 5,000 of its Artema Hybrid devices. The retailer began installing them two weeks ago, and is expected to complete the rollout by mid-2011.

PayPal Inc.'s mobile payment application has been downloaded more than a million times since it was released three weeks ago on Apple Inc.'s App Store.

Payments executives say businesses are trying to reduce their costs by shifting more payments to the ACH system, but these gains have been offset by a sharp decline in check conversion, long a major driver of transaction volume.