Bank technology

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MasterCard Inc. has begun distributing wristbands with contactless payment chips at festivals and other events. The wristbands, besides functioning as payment devices, also manage entrance to the events.

Though businesses do not have the same legal protections that consumers have in limiting their liability for fraudulent transactions, a judge has decided that a Michigan metals shop should not be on the hook for half a million dollars in fraudulent transfers.

Though businesses do not have the same legal protections that consumers have in limiting their liability for fraudulent transactions, a judge has decided that a Michigan metals shop should not be on the hook for half a million dollars in fraudulent transfers.

More banks want to outsource IT functions to the cloud, a term used to describe the use of networked remote servers. And smaller banks are moving faster than larger ones.

More banks want to outsource IT functions to the cloud, a term used to describe the use of networked remote servers. And smaller banks are moving faster than larger ones.

Rainmaker Systems Inc., a provider of business e-commerce technology, said Chuck Geiger, a former PayPal Inc. chief technology officer, has joined its board.

Rainmaker Systems Inc., a provider of business e-commerce technology, said Chuck Geiger, a former PayPal Inc. chief technology officer, has joined its board.

Modernizing a bank's core requires more than bids from vendors. Project leaders need a clear roadmap and executive buy-in.

Telefonica UK, Vodafone UK, T-Mobile and Orange parent Everything Everywhere are forming a mobile payments venture that also supports mobile coupons.

Fiserv, of Brookfield, Wis., is working with i365 Inc. of Santa Clara., Calif., to offer the service, called Data Vaulting from Fiserv.

Citigroup Inc. clarified the timeline and updated the number of accounts breached in a recent hacker attack that put an estimated 1% of its North American Citi-branded credit card base at risk.

USAA Federal Savings Bank plans to unveil an overhauled website this month that can provide the kinds of conversations online that typically only happen face-to-face in branches.

Bankers and credit card networks say mobile payment systems will be more secure than plastic cards, but a consumer advocacy group says these systems lack vital safeguards.

Visa and MasterCard have developed services for merchants to determine which cards cost more to accept — rekindling the debate over whether small banks will suffer under the Durbin amendment.

Sen. Robert Menendez, D-N.J., sent a letter Wednesday to Acting Comptroller John Walsh asking the Office of the Comptroller of the Currency to disclose what steps it has taken to work with Citigroup to remedy the situation, whether it was aware of the breach when it first occurred, whether it believes privacy laws were violated, and whether penalties may be appropriate.

First Data Corp. is working with the mobile news network operator LSN Mobile Inc. to provide a mobile advertising and coupon system for merchants.

Fundtech Ltd. confirmed it is in preliminary talks with suitors that have expressed interest in a merger or acquisition, although it said no agreement has been reached.

The Seattle company said it plans to release its first official app on Google Inc.'s Android Market on Wednesday, nearly two years after rolling out a test of its mobile payments service initially available to only Apple Inc.'s iPhone users.

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