Bank technology

MoneyGram International Inc. said Monday that it is working with Smart Communications Inc., a unit of Philippine Long Distance Telephone Co., to launch a mobile phone money transfer service in the Philippines.

American Express Co. has introduced an online invoicing and payment service aimed at small businesses. The company's AcceptPay, announced Monday, enables businesses to produce, send and track invoices electronically.

E-Trade Financial Corp. said Monday that its lead independent director, Robert Druskin, has been named the New York company's chairman and interim chief executive.

When it comes to winning the banking business of small companies, top-rated banks use a variety of strategies.

Hypercom Corp. has agreed to create a joint venture with McDonnell Group LLC to provide processors, financial companies and retailers globally with data communication services for payments applications.

Heartland Payment Systems Inc. has agreed to pay American Express Co. a settlement of $3.6 million related to a data breach the processor disclosed in January.

By letting businesses pay each other with card accounts, Bank of New York Mellon Corp. says it can profitably ease the inherent tension between suppliers, which want to be paid as early as possible, and buyers, which often want to hold onto the funds until the last minute.

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Infosys Technologies Ltd. has rolled out an online banking system that lets banks provide self-serve financial functions with remote support from service representatives.

Consumers are making more online purchases during the holiday season this year, but are spending less than last year, according to Chase Paymentech Solutions LLC.

BC Card, South Korea's largest credit card issuer, is planning to use servers from International Business Machines Corp. to handle its payment systems.

Coinstar Inc. has expanded its money transfer services into Poland through a deal with Pocztowy Bank.

The Atlanta unit of Kohlberg Kravis Roberts & Co. is developing a network of 1,250 automated teller machines that Turk Ekonomi Bankasi-BNP Paribas will deploy at retail locations and other sites around the country over the next three years.

The private-equity company Navigation Capital Partners has acquired West Suburban Bancorp Inc.'s Prepaid Solutions USA unit in a move into the rapidly growing prepaid payments market.

Cybercrime is becoming more dangerous; Exposed printed data account for increase in data breaches; and more.

Automated collections have emerged as an important growth opportunity for the banking vendor Online Resources Corp., but the long-term gains may not come fast enough to satisfy a dissident shareholder who is taking an increasingly active role in its management.

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ISGN Solutions, a unit of ISGN Corp., announced Monday that it has completed its acquisition of the loan fulfillment services business from the financial technology provider Fiserv Inc.

Banco Bilbao Vizcaya Argentaria SA's experience with personal financial management software bolsters the argument that the technology could be an important new component of online banking sites.