ATM & Debit News articles from August 2006

ATM & Debit News archives from August 2006

NCR Earnings Fall 39%.
August 3, 2006... NCR Corp. reported its earnings fell to $78 million in the second quarter, down 39% from $127 million during the same quarter last year, when the firm gained $64 million from the favorable settlement of tax audits. Overall revenue for the...

The Quarter For Visa, MasterCard.
August 3, 2006... MasterCard Inc. saw a net loss of $310 million in the second quarter, primarily due to a donation of 13.5 million shares to the MasterCard Foundation. MasterCard previously predicted it would lose money in its first year as a public company....

Visa, Star Studies Show Wellspring Of Debit Use In Recent Years.
August 3, 2006... Two studies, one by Visa USA and the other by First Data Corp., provide different views on the use of debit cards. But both indicate deep penetration on the use of debit cards by consumers compared with other payment forms. First Data Corp.,...

Visa Revamps.
August 3, 2006... Rules For Issuer Fraud Claims Fraudulent debit card transactions can cost issuers millions. Cardholders have to be reimbursed for fraudulent debits to their accounts, new cards need to be issued, and issuers usually redouble their...

PINless Debit Small, But It Has A Growing Cache.
August 3, 2006... Transaction volume for so-called "PINless" debit payments over the Web is miniscule compared with PIN-debit transactions at the point of sale and at ATMs. The payment form also represents a tiny portion of overall bill payments. But...

PINless Debit In All-In-One Product.
August 3, 2006... Some billers avoid accepting card-based payments for consumers to pay recurring bills over the Web or over the telephone. These billers, such as credit card companies and insurance firms, may fear the expenses involved, such as interchange fees...

No Traction For Card-Based Transfers.
August 3, 2006... U.S. Bancorp, citing low interest among remittance users to transfer funds to Mexico, is phasing out its debit card and ATM-based Secure Money Transfer service between the United States and Mexico. "We're de-activating it because demand is not...

PSCU Offers CUs Prepaid Cards.
August 3, 2006... PSCU Financial Services credit union service organization is offering reloadable, Visa-branded prepaid debit card to its more than 500 credit union members. The cards are designed to broaden credit union customer bases and are geared for...

Virgin Links With NetSpend.
August 3, 2006... Virgin Mobile USA, a provider of cellular telephone services, is partnering with NetSpend Inc., a distributor of network-branded prepaid debit cards, to produce a new Virgin Mobile debit card called "Stash." Virgin Mobile's young customers will...

Cards For New York Jobless?
August 10, 2006... JPMorgan Chase may provide unemployment compensation on debit cards for about 680,000 recipients of unemployment insurance benefits annually in New York State. The bank announced a deal with the New York State Department of Labor in which Chase...

MasterCard Changes Reporting.
August 10, 2006... Chris McWilton, MasterCard chief operating officer, recently told analysts that PIN-debit transactions through its Maestro network in the U.S. have remained a small part of MasterCard's revenue base. But MasterCard now is including Maestro...

EFunds Reports Prepaid Loss.
August 10, 2006... EFunds reports that its Prepaid Solutions unit, formerly WildCard, lost $6 million in the quarter, and was a leading cause of a quarterly earnings decline. Net Income in the second quarter declined by 24.8%, to $9.7 million from $12.9 million...

Clouds Form In Sunny Era Of PIN Debit.
August 10, 2006... Some electronic funds transfer networks that switch PIN-debit transactions are enjoying a golden era of PIN-debit use by consumers. But consumers are a fickle lot, and other electronic payment methods on the horizon threatens what appears to be...

Federal Ruling Settles Gift Card Case ... For Now.
August 10, 2006... A federal court ruling last week appears to give certain issuers of network-branded, prepaid debit card a wider latitude in setting fees and expiration dates imposed on cards sold as gift cards. But issuers and third-party distribution...

Advocates For Blind Have New Tactic: File Lots Of Local Deployer Lawsuits.
August 10, 2006... The Americans with Disabilities Act, or ADA, went into effect in 1990 and guidelines were added in 1992 to make ATMs more accessible. Accessibility refers to the physical placement of the equipment and the ability of a disabled person to access...

NetSpend Tries Hook Into Cell Market.
August 10, 2006... Debit cards designed for teens as standalone debit card products sold by bank issuers have not exactly made a deep impact among parents or their children. Bank of America, for example, in early 2005 ended its sales of the Visa Buxx teen card,...

TRM Expands, Despite Loss.
August 10, 2006... TRM ATM Deutschland, the German subsidiary of U.S.-based ATM deployer TRM Corp., has won a contract to deploy ATMs at up to 334 German military barracks over the next year, the company reported. TRM, an ATM ISO, also reported that it lost $4.5...

SEC Investigates Diebold.
August 10, 2006... An informal inquiry by the Securities and Exchange Commission has turned into a formal investigation of Diebold Inc. The SEC has launched a formal investigation of the ATM maker. Diebold did not detail the nature of the investigation. The firm...

Cardtronics In Bumpy Quarter.
August 17, 2006... Cardtronics Inc., the largest operator of off-premise ATMs in the U.S., reported slumping second-quarter profits. Cardtronics reported $800,000 in net income for the second quarter of 2006 compared with net income of $1.4 million for the same...

Insurer Plans ID-Debit Card.
August 17, 2006... The UnitedHealth Group health insurer is introducing a card that combines consumer identification and credit functions on debit cards attached to Health Savings Accounts. The idea is to offer up to 20 million UnitedHealth Group users...

'Dual Function' May Take On New Meaning.
August 17, 2006... The term "dual function" is commonly used to describe both the PIN-debit and signature-debit functions on the same card. But perhaps that word is about to become outdated, at least with cards used to deliver employee benefits. Expect a...

Europe Attacks Debit Interchange Across Borders.
August 17, 2006... With merchant suing debit card issuers, Visa USA and MasterCard Worldwide over interchange merchants pay to accept signature-debit cards, interchange remains a hot-button issue in the U.S. Debit interchange and accusations of violating...

Wincor's Real Goal Is To Capture ATM Maintenance Servicing Deals.
August 17, 2006... A tough market for some ATM makers in the U.S. is about to get tougher. The U.S. ATM market now is the destination for Paderborn, Germany-based ATM maker Wincor Nixdorf International GmbH, Europe's largest ATM manufacturer. Wincor CEO...

EC Orders Unified Debit Scheme.
August 17, 2006... The use of MasterCard WorldWide and Visa International for cross-border debit transactions and interchange applied to those transactions is particularly sensitive at the moment. Debit card issuers and acquirers in the Euro zone, the...

OCC Gives 'Gift' To Banks.
August 17, 2006... The Office of the Comptroller of the Currency, which regulates federally chartered banks, this week outlined requirements for bank-issued gift cards. The OCC wants banks to list expiration dates, service fees and how to access customer service...

ATM Growth In Europe Slows.
August 17, 2006... Deployments of new ATMs in Western Europe grew at the slowest rate in a decade last year, according to a report by United Kingdom-based Retail Banking Research Ltd. According to RBR, banks and other deployers added 12,613 ATMs, increasing the...

News Briefs.
August 24, 2006... VISA PAYS TO SETTLE FDC CASE Visa USA will pay First Data Corp. $50 million to settle the legal case over the First Data Net network, according to First Data's latest filing with the U.S. Securities and Exchange Commission. First Data...

Fed, TransUnion Hope For Clarity With New Studies.
August 24, 2006... Changes in how consumers pay for everything from hamburgers to health care are taking place at seemingly breakneck speeds these days. Cash and checks are being used much less, replaced by a growing variety of debit cards. It is sometimes...

Diebold Now In Official SEC Crosshairs.
August 24, 2006... What started as an informal look at Diebold Inc. by the U.S. Securities and Exchange Commission has become a formal inquiry, creating a financial and legal headache for the ATM manufacturer. By changing the status of the inquiry from...

New Warnings Emerge For ATMs Hooked Into Internal Bank Networks.
August 24, 2006... Just when financial institutions that deploy ATMs thought that they were getting a handle on their Triple Data Encryption Standard, or Triple DES, upgrade requirements and bolstering their ATM security, a California-based security auditing firm...

Rentals Top Visa's 'Emerging' List.
August 24, 2006... The latest Visa USA numbers provide further proof that consumers are dumping paper checks and cash payments for debit cards. Visa USA recently reported that sales volume in its emerging market segment rose by nearly 25% to more than $222...

Vendor News.
August 24, 2006... WAMU BRANDS CARDTRONICS ATMS Seattle-based Washington Mutual Inc. has signed an ATM branding deal with Houston-based Cardtronics Inc. WaMu will brand 160 Cardtronics-operated ATMs in Walgreens Stores. The WaMu-branded ATMs in Walgreens...

News Briefs.
August 31, 2006... PAYROLL CARDS UNDER REG E The Federal Reserve Board last week finalized a rule that grants workers paid with bank-issued payroll cards the same protections, including protection from fraudulent transactions made on the cards, under...

ATM Deployments Faster In Europe Than In The U.S.
August 31, 2006... Parts of Europe, with its mosaic of different countries, are hotter markets for ATM vendors than the U.S., according to a comparison of data from Retail Banking Research Ltd and ATM&Debit News. Also, while North Canton, Ohio-based Diebold...

Banks Give College Try With Branded Cards.
August 31, 2006... More colleges and universities are adding bank-branded debit options to the closed-system payment accounts of their campus identification cards. But many colleges continue to keep their campus card programs in closed payment environments...

Comptroller Of Currency 'Advisory' Puts Gift Card Issuers On Notice.
August 31, 2006... The timing of a recent advisory notice on gift card fee disclosures from the Office of the Comptroller of the Currency may not be purely coincidental. Indeed, this advisory for national banks regulated by the OCC could be the harbinger of more...

Eastern Europe Needs Basic ATMs.
August 31, 2006... In Eastern Europe, financial institutions are just now establishing a national presence with new branches and in retail locations, industry observers note, and that makes the region the hottest ATM market in Europe. Uwe Krause, is head of...

Vendor News.
August 31, 2006... EFUNDS NAMES GLOBAL CHIEF EFunds Corp. named Shailesh Kotwal president of its international division, overseeing strategy, new products and growth. Kotwal most recently was with American Express Co. in New York, serving as vice president...