ATM & Debit News articles from April 2008

ATM & Debit News archives from April 2008

News Briefs.
April 3, 2008... WAMU SET TO BECOME BIGGEST ISSUER OF DEBIT MASTERCARD PAYPASS CARDS Washington Mutual announced Tuesday it will issue 12 million to 15 million debit MasterCard PayPass cards this year, making the Seattle-based thrift the worlds largest...

TRM Posts Smaller Annual Loss, But Mulls Bankruptcy Protection.(Financial report)
April 3, 2008... TRM Corp. this week reported a smaller net financial loss last year than in 2006 and warned it my have to seek bankruptcy protection if it is unable to refinance its debt. The Portland, Ore.-based ATM independent sales organization had a...

Shoppers Took $3.5B In Cash Back In '06, Accounting For 8.5% Of PIN-Debit Purchases.
April 3, 2008... Cash back at the point of sale accounted for 8.5% of the value of PIN-debit purchases in 2006, according to the Federal Reserve Systems 2007 Electronic Payments Study released last week. That figure compares with 7% in 2003, says Joel...

Prepaid Market Smaller Than Reported, Fed Says.
April 3, 2008... The transaction value for prepaid cards is much lower than payments experts had previously thought, but the difference in opinion may be attributable to survey methodology. The open- and closed-loop prepaid card markets reached $50 billion...

Hostile Suitor United Technologies Controls 3.5% of Diebold Stock.
April 3, 2008... United Technologies Corp., which made a hostile takeover bid for Diebold Inc. in early March, disclosed Thursday it owns 3.5% of Diebolds outstanding common stock. United Technologies says it owns 2.28 million Diebold shares, making the...

Vendor Briefs.
April 3, 2008... CHINESE BANK BUYS 1,400 DIEBOLD ATMS Agricultural Bank of China, one of Chinas four large state-owned banks, has purchased 1,400 ATMs from Diebold Inc. for an undisclosed price, Diebold announced Tuesday. The machines include Opteva and...

Personnel.
April 3, 2008... ATM INDUSTRY ASSOCIATION Steven Lund, president of Charlotte, N.C.-based Level Four Americas, a supplier of ATM software, has joined the board of the ATM Industry Association. As a board member, Lund will work to shape association actions....

Events.
April 3, 2008... FINANCIAL REWARDS STRATEGY SYMPOSIUM The Financial Rewards Strategy Symposium will take place May 5-8 at the Peabody Hotel in Memphis, Tenn. The event is designed for regional financial-institution executives and will include breakout...

New Briefs.
April 10, 2008... AUDITOR QUESTIONS TRMS ABILITY TO CONTINUE AS A GOING CONCERN McGladrey & Pullen, LLP, TRM Corp.s auditor, Tuesday expressed concern about the Portland, Ore.-based independent sales organizations ability to continue as an enterprise. The...

Triton Sues Former Executives: Alleges Ex-employees Used Misappropriated Data To Start A Competing ATM-Manufacturing Company.
April 10, 2008... Triton Systems of Delaware Inc. has sued former president and CEO Brian J. Kett and five other former top executives, charging they used misappropriated Triton documents to found an ATM marketing firm to compete with Triton. Kett and the...

Fraudsters Hoping To Cash In On Mobile Banking: Text Message-Based Mobile-Banking Attracts "Smishing".
April 10, 2008... Fraud associated with mobile banking will grow along with consumers adoption of the service, and certain mobile-banking applications appear more susceptible to hacking than others, according to industry experts. Mobile banking enables a...

Documentary Blasts Debit Card Overdraft Fees.
April 10, 2008... After his bank charged $140 in overdraft fees for four purchases totaling $60, Karney Hatch decided to warn other debit cardholders. That was how he came to make a 74-minute movie called Overdrawn!, reputedly the first documentary to deal...

NCR Sees Self-Service Revolution, As Multitasking Kiosks Roll Out.
April 10, 2008... Orlando, Fla.Bill Nuti, NCR Corp. chairman and CEO, declared last week that the self-service revolution has arrived, and companies must offer self-service options to compete for the current and next generations of technology-savvy customers....

Vendor Briefs.
April 10, 2008... PACIFIC RESOURCE CREDIT UNION CONTRACT MOVES ATM AND DEBIT CARD PROCESSING Pacific Resource Credit Union has signed a long-term agreement to assign its ATM and debit card processing to The Members Group, a Des Moines, Iowa-based provider...

Correction.(Correction notice)
April 10, 2008... An editing error in last weeks issue of ATM&Debit News caused an inaccuracy in an article about TRM Corp. Bankruptcy is only one option TRM would explore if it cannot refinance its debt, according to a U.S. Securities and Exchange Commission...

Personnel Items.
April 10, 2008... TRITON SYSTEMS Long Beach, Miss.-based Triton Systems has promoted Shan Abbott to senior quality/testing manager. She will work with Triton customers and employees to identify and resolve product-quality issues and improve product quality...

News Briefs.
April 17, 2008... DIEBOLD TO SUPPLY ITALIAN BANK WITH 143 INTELLIGENT-DEPOSIT ATMS Diebold Inc. announced last week it has signed an agreement to supply 143 intelligent-deposit ATMs to Italy-based Banca Nazionale del Lavoro, part of Banque Nationale de Paris...

Funds Controlled By Mario Gabelli Purchase 7.2% Of Diebold's Stock: Purchase Signals Changing Composition Of Diebold's Largest Investors, Analyst Says.
April 17, 2008... Investment funds controlled by Mario J. Gabelli have purchased a 7.2% stake in Diebold Inc. on the assumption the ATM maker will submit eventually to a hostile takeover bid. The funds paid $93.1 million to become the largest stockholder in...

Combo Student Identification And Debit Cards Accepted By More Off-Campus Merchants.
April 17, 2008... Colleges and universities that com-bine student identification cards with debit cards can expand students shopping alternatives and boost sales of nearby off-campus merchants, says a vendor that offers off-campus technology. Off-Campus...

Envelope-Free ATMs Will Pickup Traction This Year, NCR Predicts: But Some Banks Say They Have Other Priorities.
April 17, 2008... Orlando, FLA. -- While ATM-manufacturer NCR Corp. says virtually every American bank will convert to envelope-free ATM deposits in the next few years, some in the industry are skeptical. Forty percent of U.S. bank-owned ATMs will accept...

Debit And Credit Cardholders Prefer Cash-Back Rewards, According To New Study.
April 17, 2008... Cash back remains the most-popular reward among credit and debit cardholders, with discounts the least-favored, according to an Aite Group LLC consumer survey. The majority of consumers, 60%, earn rewards with credit cards while 21% earn...

Vendor Briefs.
April 17, 2008... INDIANA ELECTRIC UTILITY OFFERS EARTH-FRIENDLY WEB BILLING AND PAYMENT CheckFree Biller Direct HV is offering Indianapolis Power & Light Co. customers another channel to pay their electric bills. CheckFree announced last week that all...

Personnel Items.
April 17, 2008... CELENT Boston-based Celent LLC has hired Enrico Camerinelli as a senior analyst in the companys Banking Group based in Europe. His research focuses on the Single European Payments Area and on the financial supply chain. Before joining...

Coming Events.(Conference news)(Calendar)
April 17, 2008... 2008 Pulse Conference The 2008 Pulse Conference P3Protect, Perform, Profit is scheduled for April 28-30 at the Wynn Las Vegas. The event will cover fraud protection, performance best practices and strategies to increase debit profits, the...

News Briefs.
April 24, 2008... VIVOTECH RELEASES CONTACLESS MODULE Vivotech Inc., a Santa Clara, Calif.-based contactless-payments company, Thursday launched Vivopay, a contactless module for multifunctional kiosks, says Mohammad Khan, the companys president and...

TRM Buys ISO And Gets Loan, But Nasdaq Delists Company Stock.
April 24, 2008... Like the mythical bird the Phoenix, TRM Corp. has risen from the ashes. Well, almost. Two weeks after McGladrey & Pullen LLP, TRMs auditors, questioned the ATM independent sales organizations ability to continue operating, TRM appeared to...

MasterCard Launches Debit Processing Platform.
April 24, 2008... MasterCard Worldwide has introduced a debit-processing platform, which will enable the card brand to make the transition from a switch to an issuer-processor. The platform, called MasterCard Integrated Processing Solutions, includes ATM-,...

NCR ATMs Find Gold In Soaring Scrap-Metal Recycling Industry.
April 24, 2008... When Ken Gruber first approached scrap-metal recycling companies 10 years ago about using ATMs to pay truck drivers instead of having an employee hand them cash, Gruber says some scrap-metal company owners raised their eyebrows. Their...

Debit Rewards Market Young But Growing.
April 24, 2008... The number of community and regional banks with debit rewards appears likely to double in the next two years, and most financial institutions will have debit rewards within five years, according to Mike Bender, CEO of Image Products Inc., a...

Vendor Brief.
April 24, 2008... PSCU ISSUES DIVIDENDS TO ITS 500 CREDIT-UNION MEMBERS PSCU Financial Services, a St. Petersburg, Fla.-based credit-union service organization, issued recently $24.1 million in dividends to its more than 500 credit-union members. The...

Personnel Items.
April 24, 2008... TRITON Long Beach, Miss.-based ATM manufacturer Triton Systems of Delaware Inc. has promoted Scott Hoelzel to manager of mechanical and manufacturing engineering. He will lead the Manufacturing Engineering Group and manage product...

Coming Events.(Calendar)
April 24, 2008... BRANCH BANKING SYMPOSIUM The 6th Annual Branch Banking Symposium is scheduled to address financial services issues, including driving growth and securing and retaining customers. The event is set for May 7-9 at the Loews Coronado in San...