Bank technology

The war against online fraud may not be winnable, according to several bankers and security technology vendors.

First Data Corp.'s announcement Wednesday that it is considering selling its card-issuing business has prompted speculation about possible buyers.

Visa U.S.A. Inc., which has trailed other card companies in offering contactless payment technology, has developed its own program.

Three online authentication tools stand out from the pack for balancing a high level of security, a favorable return on investment, and a low likelihood of annoying customers, a report released Wednesday says.

The biometric payment system vendor BioPay LLC has been awarded its first patent, which may help in its legal dispute with Solidus Networks Inc.

Fiserv Inc. resolved one question about its future by naming an outsider to succeed its longtime chief executive, but that change and others in the executive suite raised fresh speculation about the Brookfield, Wis., technology vendor’s strategy.

Sovereign Bancorp Inc. of Philadelphia is betting that it can capture customers from larger northeastern rivals by offering more sophisticated online banking services for small businesses.

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Online banking has become so common, especially among big banks, that some vendors of software for it are refocusing on smaller customers and trying to manage their product lines better.

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Many banking companies offer separate online services to small and large businesses, but companies like Bank of America Corp. and CashEdge Inc. are trying to bring large-business payment services to mom-and-pop shops.

eFunds Corp., which provides electronic payments software and outsourcing services, reported strong third-quarter earnings and said the newly acquired WildCard Systems, a prepaid card company, bolstered revenue.

Nacha, the electronic payments association, has authorized banks to turn some business checks into automated clearing house transactions through accounts receivable conversion.