ATM & Debit News articles from January 2005

ATM & Debit News archives from January 2005

VeriFone Announces IPO Plans.
January 13, 2005... Payment terminal marketer VeriFone Holdings Inc. on Jan. 11 reported plans to hold an initial public offering of company stock. A proposed stock price was not disclosed, but VeriFone wants to raise $230 million from the sale, according to the...

Discover, Pulse Complete Deal.
January 13, 2005... Discover Financial Services, issuer of the Discover Card, yesterday announced that it had completed the purchase of the Houston-based Pulse electronic funds transfer network after receiving approval of the deal from Pulse's 4,100...

Fraud Losses Stable As Debit Use Grows Among Consumers.
January 13, 2005... Overall costs associated with debit card fraud appear to be decreasing, despite consumers' growing use of the cards. But fraud losses experienced by the largest debit card issuers still are problematic, new survey data suggest. The...

MasterCard Nabs Yet Another Debit Issuer From Visa.
January 13, 2005... In four short months, MasterCard International did what it was unable to do for years-capture measurable signature-based (offline) debit market share from Visa USA. Unless Visa nabs a large debit MasterCard issuer, MasterCard's offline debit...

Smaller ATM ISOs Likely To Lose Under New Visa Plus Interchange Tiers.
January 13, 2005... The winners and losers of structural modifications in Visa Plus interchange rates are now more evident. Card issuers will pay less in interchange, while small independent sales organizations and store owners will receive less in interchange for...

Debit Card Fraud Losses.
January 13, 2005... Bank Type Loss Per Card* Community 48cents Mid-Size 69cents Regional $1.36 Large $1.68 Source: American Bankers Association. 2003 fraud-loss data compiled from a survey in which...

Recent MasterCard Gains.
January 13, 2005... Date Debit Announced Bank Cards 9/9/04 Bank of the West 450,000 12/20/04 Associated Bank 400,000 1/5/05 Washington Mutual 9 million ...

Policy Change Favors MasterCard Name.
January 13, 2005... To simplify its debit message and brand advertising, MasterCard International in September began allowing U.S. issuers of its Cirrus ATM and Maestro PIN-based point-of-sale debit cards to drop those network marks on debit MasterCards. In doing...

Higher-Tier Requirements.
January 13, 2005... * Surveillance Cameras * Shared, Electronic Locking System * 24-Hour ATM Access * UL-Approved 291 Level 1 Safe * Non-Dial-Up Communications Source: Visa USA. At least half of an ATM deployer's portfolio must meet four of...

First American Buys NDFC.
January 13, 2005... Merchant card processor First American Payment Systems LP has acquired National Data Funding Corp., a Chico, Calif.-based acquirer servicing 3,800 merchants and 230 ATMs. Terms were not disclosed. As a result of the sale, R. Scott Hatfield,...

TSYS To Buy Visa's Vital Shares.
January 20, 2005... Total System Services Inc., or TSYS, says it has signed an agreement to purchase Visa USA's 50% stake in Vital Processing Services for an undisclosed price. TSYS already owns the other 50% share of Vital. Tempe, Ariz.-based Vital is the...

OCC Sides With Massachusetts.
January 20, 2005... Bank of America, a nationally chartered bank, may issue Visa-branded gift cards for Simon Property Group's shopping malls, but the card fees do not fall under national regulations, the U.S. Office of the Comptroller of the Currency notes in a...

Holidays Brighter For Visa's Interlink Than For Rival Star.
January 20, 2005... Shoppers this past holiday season again dramatically increased their use of PIN-debit cards when buying gifts and making other purchases. Santa, however, was not kind to the leading PIN-based point-of-sale debit network, First Data Corp.' Star,...

Broadband Making A Splash Mostly In Bank ATM Pool.
January 20, 2005... Most off-premise ATMs traditionally have operated using dial-up telephone communications to transmit transaction information. And while most bank-branch ATMs use dedicated, always-on leased lines, many financial institutions are migrating to a...

A Rare Glimpse Of Financial Data Shows Visa's Growth As A Processor.
January 20, 2005... Visa USA traditionally has been tight-lipped when it comes to revealing financial details about the organization. But the private association of 14,000 financial institutions for the first time recently offered the public a detailed, inside...

Holiday Season POS PIN Use.
January 20, 2005... 2003 Network 12/04 12/03 Change Change** Star 314.6* 349.5 -10.0% 22.1% Interlink 241.0 104.5 130.6% 38.0% Pulse 81.0 61.3 32.1% 44.2% NYCE 69.2 ...

Check Card Spending Online Grows.
January 20, 2005... While more consumers over the holidays used PIN-debit cards to shop at the point of sale, signature-debit cards made gains with Internet shoppers, according to data supplied to ATM&Debit News by Visa USA. From Nov. 1 through Jan. 2, U.S....

MasterCard Reviewing Pulse Deal.
January 20, 2005... MasterCard International on Jan. 19 announced it is reviewing the acquisition of the Pulse electronic funds transfer network by Discover Financial Services, issuer of the Discover Card. Discover and Pulse completed their deal earlier this...

Visa's Revenue Picture.
January 20, 2005... Card Services/Processing $1.7 Billion International Fees $306.6 Million Other $372.8 Million Source: Visa USA. Data are for Visa's fiscal year ended Sept. 30, 2004. Copyright 2005 Thomson...

Triton Expands ATM Shipments.
January 20, 2005... Triton claims to have a set a company record for ATM shipments in 2004. The Long Beach, Miss.-based ATM maker says it shipped 20,000 machines last year, up 17.3% from 17,050 in 2003. Triton primarily sells ATMs designed for nonbank locations in...

New Surcharge Alliance Forms.
January 20, 2005... Computer Service Inc., a Paducah, Ky.-based ATM processor, has formed a new selective-surcharge alliance. About a dozen participating banks offer their debit cardholders surcharge-free access to 68 ATMs, according to a Computer Service...

Canadians Using PINs In U.S.
January 27, 2005... NYCE, the Montvale, N.J.-based electronic funds transfer network that last October began switching U.S. purchases initiated with Canadian PIN-based debit cards, says Canadian shoppers have completed more than 100,000 U.S. transactions totaling...

States Expanding Use Of Branded Prepaid Debit Cards.
January 27, 2005... States' use of nationally branded prepaid debit cards as payment vehicles appears on the verge of sweeping the nation. Just as thousands of businesses and other organizations already have done, states are looking to use debit cards as a means...

More Banks Using HSAs To Bolster Debit Card Rolls.
January 27, 2005... More financial institutions are launching programs to support health savings accounts, which could become one of the largest new markets for debit card issuers. Indeed, HSAs also are providing new growth opportunities for card processors. ...

Triton's 2004 Sales Show Progress In Capturing Some Bank ATM Markets.
January 27, 2005... Triton has been trying to crack the bank ATM market dominated by Diebold Inc. and NCR Corp. for the past two years. But Triton, the nation's premier maker of basic cash dispensers, seems to have finally found its footing among small financial...

Drug-Store Chain To Offer Debitman At All Of Its Stores.
January 27, 2005... The Duane Reade drugstore chain, which last fall began testing the issuance of Debitman debit cards at about 48 of its stores, now plans to issue the cards at all of its more than 250 locations. Chris Darrow, the New York-based chain's vice...

Franchise To Add 82 More Stores To Biometrics System.
January 27, 2005... Piggly Wiggly Carolina Co., which last year launched a four-store test of a fingerprint biometrics payment system from Pay By Touch, is extending the service to all 82 company-owned franchise stores in the Southeast. Completion of the full...

Consortium Uses For Cards.
January 27, 2005... States* Purpose Colorado Child Support N.Dakota Child Support, Cash Benefits South Dakota Child Support, Payroll Nebraska Child Support, Unemployment** Source: States, ATM&Debit...

Diebold Revenues Up 10.6%.
January 27, 2005... Diebold Inc. says it generated $717.2 million in fourth-quarter revenue, up 10.6% from $648.4 million during the same period in 2003. Revenues generated by Diebold's financial self-service products sector, which includes ATM sales, totaled...

First Data Names Mobile Chief.
January 27, 2005... First Data Corp. recently named Nandita Bakhashi as its managing director of Mobile Solutions, a new business unit focused on offering mobile payments and related services. Bakhashi says most of unit's initial attention will be focused in...