Bank technology

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MasterCard said its SecureCode payment verification system experienced disruptions temporarily Wednesday as part of an attack that also took out its main website.

Harland Financial Solutions Inc. said Tuesday that it has purchased uMonitor of Memphis, Tenn.

Visa is making mobile payments chips available to any of its partner banks, a move that pushes it ahead of rivals largely still in smaller tests with competing technologies.

What next year's fraud and security attacks will look like; serving your country comes with a higher ID theft risk; law enforcement peers at transaction data in real time; and more.

Hypercom Corp. said Monday that more than 450 C&A Mode KG fashion retail stores in Germany plan to deploy 2,700 of its Artema Hybrid point of sale terminals.

The debate on regulating how Internet service providers manage online use has largely focused on the activities of consumers, but technology executives say they believe the regulation of Internet access could affect the daily operations of financial companies and their vendors.

As regulation spurs banks to cut operating costs, FIS has developed a purely electronic account that dispenses with paper statements and checks and does not even require a debit card.

Even if the second lien is with the same servicer, there are still formalities related to stakeholder compliance, risk analysis and record keeping to name a few.

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VeriFone Systems Inc. is planning major investments in new terminal technology as wireless carriers, card networks and banks move ahead with mobile payments initiatives.

VeriFone Systems Inc.'s fiscal fourth-quarter revenue rose 27% from a year earlier to $276 million, the San Jose payments terminal maker said Thursday.

American Express Co. cardholders can now redeem their Membership Rewards points to buy virtual goods under an agreement the New York card company announced this week with social-game developer Zynga Inc.

Roam Data Inc. is expanding its mobile card reader technology to BlackBerry users.

Counterintuitive as it might seem, there's a group of consumers banks should consider carefully for their profit potential: first-time defaulters.

While the final rules emanating from the act are still being drafted, the focus on identifying, managing and documenting risk will be more important than ever.

Mobile marketing, group coupons and merchant-funded rewards programs are providing new ways for merchant acquirers to help retailers increase consumer spending and traffic.

Retailers saw improvements in Black Friday spending, according to First Data Corp. and PayPal Inc., which recently reported double-digit increases in spending data compared with the same day in 2009.

A New Jersey man allegedly stole a POS terminal at a supermarket and used it to steal $80K from the store; a phishing scam that relies on Gmail; and more.

Financial institutions have moved quickly to meet expectations, introducing products and services that leverage technology advances, but these advances also have a dark side.