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Tech news from around the web:

MasterCard is to invest in mFoundry, a company that provides mobile banking solutions for more than 500 US banks, TechCrunch reports. As part of the deal, mFoundry will offer MasterCard’s PayPass Near Field Communication technology to the banks and credit unions it works with. Read more

David Gelles

Hearst, publisher of magazines including Cosmopolitan and Esquire, took at shot at rival publishers Condé Nast and Time Inc on Monday, as it unveiled its new centre for developing and showcasing digital editions of its titles. Read more