Bank technology

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The House of Representatives has approved the Data Accountability and Trust Act. Under the bill, which was introduced in April by Rep. Bobby L. Rush, D-Ill., the Federal Trade Commission would set regulations requiring for-profit entities under its jurisdiction to monitor electronic data and notify consumers when a breach occurs.

Obopay Inc. has a new application for Apple Inc.'s iPhone that lets consumers initiate person-to-person payments.

Google Inc.'s brand is so recognizable that if it decides to venture into the lead generation and rate aggregation market, companies like LendingTree LLC could feel a chill.

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The Payments Processing Information Sharing Council, which was formed this year to exchange information about fraud, threats and risk-mitigation practices, has created a volunteer steering committee.

Albert Gonzalez, the Miami man who pleaded guilty in September to charges related to the 2007 data breach at TJX Cos. Inc., pleaded guilty last week to additional charges that he engineered breaches at Heartland Payment Systems Inc., Hannaford Bros. Co., 7-Eleven Inc. and two unnamed retailers.

NCR Corp. has purchased the DVD rental kiosk operator DVDPlay Inc. With the acquisition, which was announced Thursday, NCR will have 3,800 kiosks deployed by yearend.

Permata Bank in Jakarta, one of Indonesia's national banks, has agreed to deploy Hypercom Corp. payment terminals as part of a nationwide rollout of multifunction devices at retail locations.

Microsoft Corp. is pushing into core processing, bringing one of the biggest names in technology deeper into financial services.

Though Twitter Inc.'s service is designed to communicate with a vast, online audience, some financial companies are now using it to reach specific groups or even individuals, a sharp contrast to some early efforts that were more akin to e-mail spam.

VeriFone Holdings Inc. has developed a mobile payment card reader that works with Apple Inc.'s iPhone. The terminal maker said Tuesday that it expects to begin shipping its Payware Mobile device in January, at no charge to merchants that use its gateway payment service.

AOL bids farewell to password-generating tokens; electronics testing firm suing Capital One over unauthorized transfers; Facebookers should be wary of rubber duck friend requests; and more.

Fidelity National Information Services Inc. says it expects a return to growth in 2010 as bank spending on technology improves in the second half of the year.

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The Reserve Bank of India has ruled that all electronic and online purchases initiated in India must settle within two days.

Fundtech Ltd., a maker of banking software for corporate cash management and foreign exchange, announced a partnership Monday with VocaLink Ltd., the provider of the central infrastructure for the British Faster Payments service, to provide Swift connectivity to banks and their corporate clients in Europe.

Less than 50% of businesses with 20,000 or more payment transactions a year are compliant with the Payment Card Industry Data Security Standard, a survey found.

Cardlytics Inc. is expanding its online banking marketing system to reach smaller merchants and larger banks.

Sapient Corp. plans to announce a marketing alliance today with Geezeo Inc. to improve the accuracy of its targeted ads.