Bank technology

First Data Corp. hopes to challenge terminal makers with an encryption service that it contends goes further than rival offerings.

Citi improves automated fraud-alert service; researchers: P2P networks expose financial information as well; breach at Tennessee Blue Cross Blue Shield office; and more.

It sounds counterintuitive: USAA Federal Savings Bank's customers will soon access a more-secure mobile banking service by entering less information.

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The online bill-payment vendor iPay Technologies Inc. has introduced an electronic invoicing system for small businesses.

Members of Generation Y are more likely to have both debit cards and savings accounts than any other age group, according to a report released Monday by Fiserv Inc.

EBay Inc. hopes that growing use of social media Web sites will boost online transactions and drive up volume for its PayPal Inc. unit.

The online banking provider Online Resources Corp. moved into the red in the fourth quarter, in part because of expenses related to the departure of its chief executive as well as customer losses stemming from the financial crisis.

Morphis Inc., a Dallas payments-management software provider, has introduced a low-cost, online cash-forecasting tool that community banks and credit unions can use to manage their automated teller machines.

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Citigroup Inc. is evaluating a new mobile service that monitors where people do their shopping, but has no actual banking functions.

Prepaid card companies are making it possible to have the benefits of a bank account without actually having a bank account.

MShift Inc. has filed a patent infringement lawsuit alleging that Intuit Inc. is using its mobile banking technology.

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Mobile phones are expected to become an important e-commerce channel, but there is much less demand for person-to-person payments capabilities through handsets, according to two recent reports from Allied Business Intelligence Inc.

Finnish company may have been breached by U.S.-based hackers; despite "meticulous" security, company lost $100K of ACH transfers; vulnerabilities exposed in file-sharing programs; ATM proves too tough to crack; and more.

Visa Inc. said it has hired an executive from the GSM Association, a trade group for wireless telecommunications, to lead its mobile payments efforts.

Harland Financial Solutions Inc. said it has signed more than 100 clients for its Cavion Mobile Banking Professional application.

Intuit Inc.'s Mint.com personal financial management Web site is adding an online forum for customer support.

Oracle Corp.'s string of acquisitions in the banking technology market has prompted concern among some of the established players in the market.