Bank technology

IMGCAP(1)]

Square began last week to take the wraps off its new cell phone payment system. The company has been attracting attention in the blogosphere since May, when word first emerged that Jack Dorsey, better known for founding the popular Twitter Inc. microblogging service, was exploring a mobile phone payment technology.

Consumers are ready for mobile banking, and are starting to get impatient if their banks do not offer it, according to a pair of reports released this week.

Square Inc. has introduced a mobile payment device that lets users of Apple Inc.'s iPhone accept magnetic-stripe card payments.

NCR Corp.'s kiosk operation has notched two deployment victories this week.

Though Black Friday spending was up this year for all card types, PIN debit transactions grew faster than credit and signature debit combined, and gift card sales rose even faster, according to data published this week by First Data.

Anticipating a surge in "native electronic payments," The Clearing House Payments is pursuing a sweeping reorganization and finally shutting the door for good on its original business — processing paper checks.

IMGCAP(1)]

The mobile banking technology vendor ClairMail is planning to offer a remote capture service that its bank clients can offer to customers, using software from Mitek Systems Inc.

Intuit Inc. said Tuesday that it is selling its Real Estate Solutions business to focus on its online financial offerings.

The Receivables Exchange LLC announced Tuesday that it has integrated its proprietary receivables trading platform with the Ariba Network platform operated by Ariba Inc. of Sunnyvale, Calif.

The global financial cooperative Swift announced Tuesday that Union Credit Bank in Miami is using its Alliance Lite service to connect to SwiftNet.

IMGCAP(1)]

After years of evaluating a wide range of mobile banking applications separately, Citigroup Inc. is starting to link the pieces together.

IMGCAP(1)]

Increased use of antifraud procedures has helped e-commerce merchants reduce the amount of revenue lost to fraud to $3.3 billion this year, an 18% decrease from $4 billion in 2008, according to a CyberSource Corp. survey.

Count Ingenico SA among those that believe that mobile devices and payments will converge.

Chase HSA customers can now transfer funds directly from their checking or savings accounts to their HSA and pay their medical expenses online from their HSA, without writing and mailing checks.

Tio Networks announced Monday that it will offer walk-in expedited bill payment at certain retail stores in metropolitan Atlanta so customers can pay bills from Georgia Power Co.

The type of tailored advertising found at high-traffic Web sites such as Google and Facebook is coming to television. Its proponents say addressable television advertising, which uses financial and cable company data to generate targeted TV commercials, can give banks and other advertisers more bang for the marketing buck.