ATM & Debit News articles from January 2002

ATM & Debit News archives from January 2002

U.S. Processors Set Sights On Growth Overseas.(Brief Article)
January 10, 2002... U.S. processors of PIN-based debit cards are in fierce competition with one another domestically for card-issuing clients. Their rivalries soon could expand into foreign markets as well. Greenwood Village, Colo.-based First Data Corp. and...

ATMs Prove Valuable As European Nations Convert To The Euro.(Brief Article)
January 10, 2002... The conversion to the euro, which began replacing local currencies in 12 European nations on Jan. 1, is demonstrating once again the power of ATMs to provide convenient access to cash. Most reports show about a 150% increase in ATM...

Returned To Independence, TNS Looks To ATMs To Maintain Volume Growth.(Brief Article)
January 10, 2002... In November 1999, PSINet Inc., a Herndon, Va.-based Internet service provider, acquired Transaction Network Services Inc., a leading telecommunications company with a data pipeline linking merchants and acquirers. PSINet planned to use TNS's...

News Briefs.(Brief Article)
January 10, 2002... Member Access Joins Co-op The Naperville, Ill.-based Member Access credit-union electronic funds transfer network has reached an agreement to become a member of the Ontario, Calif.-based Co-op credit-union network, the organizations...

Citigroup Drops TravelMoney Support.(Brief Article)
January 10, 2002... Citigroup Inc., a leading supplier of Visa TravelMoney, Visa International's PIN-based prepaid card designed for international travel and funds access from ATMs, will discontinue offering the product March 30. Citigroup has supported...

ISO Behavior Called Into Question After $5 Million Cash Theft.(Brief Article)
January 10, 2002... The recent theft of $5 million worth of ATM cash calls into question once again the ethics and practices of some independent ATM operators. And marketplace concerns that more problems could arise already are increasing the price of doing...

Top Euro ATM Nations.(Illustration)
January 10, 2002... % Country ATMs* Converted** Germany 54,000 100% Spain 46,000 90% France 35,500 90% Italy 32,300 90% Source: Diebold Inc and ATM&Debit News....

TNS Highlights.(Brief Article)
January 10, 2002... 1990 Company established by John J. McDonnell Jr. 1995 Reorganized into POS Services and Telecom Services divisions. Transports 1.2 billion transactions during year 1997 Financial Services...

Vendor News.(Brief Article)
January 10, 2002... New POS Products Expected Heavy investment in research and development over the past few years will result in numerous new product introductions this year for Hypercom Corp., the Phoenix-based payment-terminal maker. As a result, "We will...

Vendor Uses Ad, Infomercial To Tout At-Home Terminal.(EConnect Inc.)(Brief Article)(Statistical Data Included)
January 17, 2002... Real-time debit card transactions initiated on the Internet and switched through regional electronic funds transfer networks, a concept that two years ago some experts predicted would be happening by now, has yet to emerge or to build much...

Despite Recession, POS Networks Post Big Holiday Gains.(point of sale use of debit cards)(Brief Article)(Statistical Data Included)
January 17, 2002... Holiday purchases were Scrooge-like for many retailers, but electronic funds transfer networks last month found a lot of extra purchase transactions in their Christmas stockings. And one PIN-based point-of-sale debit network in particular,...

Co-op Network Continues To Grow With Addition Of An Illinois Credit Union.(Member Access)(Brief Article)(Statistical Data Included)
January 17, 2002... A recent alliance between the nation's largest electronic funds transfer network for credit unions, the Ontario, Calif.- based Co-op Network, and the St. Paul, Minn.-based Access Cash International ATM independent sales organization, appears...

News Briefs: Tidel Reports Major Losses.(Brief Article)(Statistical Data Included)
January 17, 2002... Houston-based ATM maker Tidel Technologies Inc. on Jan. 17 reported a net loss of $11.5 million on revenues of $6.3 million for the quarter ended Sept. 30, 2001, down from a net income of $2.4 million on revenues of $20.2 million during the...

Unlike POS Debit, ATM Volumes Flat.(use of point of sale debit systems eats into growth of automatic teller machine industry)(Brief Article)(Statistical Data Included)
January 17, 2002... PIN-based debit card transactions are replacing cash transactions, even during last-minute Christmas shopping, electronic funds transfer network officials generally agree. But greater use of debit cards to initiate purchases appears to be...

December POS Debit Growth.(Brief Article)(Statistical Data Included)
January 17, 2002... 2001 2000 Network 12/01 12/00 Change Change* Star** 222.7 175.4 27.0% 25.1% Interlink 57.0 33.6*** 69.6% 23.7% NYCE 39.0 34.8* 12.0% 34.6% Pulse ...

Leading Issuer Of DDA Debit Cards Makes Its Move Into The Prepaid Market.(BankAmerica Corp.)(Brief Article)(Statistical Data Included)
January 17, 2002... Some financial institutions' prepaid debit card programs have been hit hard by fraud. And some banks will not even offer an offline, or signature-based, prepaid card with a Visa U.S.A. or MasterCard International logo based solely on the...

Vendor News.(Global Payments Inc., McDonald's Corp., Indivos Corp.)(Brief Article)
January 17, 2002... Global Payments Adopts Base24 Global Payments Inc., an Atlanta-based payment card processor, has reached a licensing agreement to use ACI Worldwide's Base24 payment software to run its payments-processing platform. Global Payments...

Ingenico Lands Its First Blow Against U.S. Competitors.(contract with First Data Corp.)(Brief Article)
January 24, 2002... When Ingenico SA last year acquired Roswell, Ga.-based IVI Checkmate Corp., some observers questioned to what extent a relatively unknown player in North America could compete against more established point-of-sale terminal makers. The...

Fed Plan Reduces Need To Collect ATM Check Deposits.(automated teller machines)(Brief Article)
January 24, 2002... Among the biggest costs for financial-institution ATM programs are the daily pickups of deposit envelopes. While ATM users enter the deposit amount on the machine's PIN pad, the deposit cannot be processed and posted until the envelope is...

Medical Savings Accounts Continue To Get The Cold Shoulder From Issuers.(Brief Article)(Statistical Data Included)
January 24, 2002... Five years ago, before prepaid cards became the rage for card issuers looking to boost interchange income, the U.S. government launched a pilot that gave financial institutions a similar opportunity. Working with health insurers, banks could...

News Briefs.(Brief Article)(Statistical Data Included)
January 24, 2002... SC 24 To Combine With Co-op The Service Centers Corp., which operates the SC 24 electronic funds transfer network, is joining forces with Ontario, Calif.-based Co-op Network. SC 24 switched 6.3 million transactions last March, making it...

Check Truncation Act Highlights.(Brief Article)
January 24, 2002... * Enables paper deposits at ATMs to be presented electronically to check issuers * Allows substitute checks created from digital images to replace original checks * Limits issuance of substitute checks to financial institutions *...

Pending MSA Legislation.(medical savings accounts)(Brief Article)
January 24, 2002... If approved, the Medical Savings Account Availability Act would: * Make MSAs permanent * Repeal 750,000 cap on participation * Expand eligibility to all individuals with a qualified deductible plan * Lower minimum deductibles...

Vendor News.(miscellaneous brief articles)(Brief Article)(Statistical Data Included)
January 24, 2002... ISO Supports Kash n' Karry ATMs Nationwide Money Services Inc., a Pointe Vedra Beach, Fla.-based ATM independent sales organization, has entered into a five-year deal with the Kash n' Karry convenience-store chain to provide ATM...