ATM & Debit News articles from January 2007

ATM & Debit News archives from January 2007

Check Card Still On The Rise.
January 11, 2007... Sales volume in 2006 for Visa check and prepaid cards totaled $574.5 billion, up 23% from a year earlier, Visa announced Tuesday. Some 192.8 million check and prepaid cards were issued in 2006, and 147.3 million checking and prepaid card...

Card Brands Settle Dispute.
January 11, 2007... Visa USA and MasterCard Worldwide agreed to pay the federal government $3.5 million to settle a lawsuit over Visa and MasterCard rules that required merchants who accepted their credit cards to also accept their branded debit cards. Visa will...

Prepaid Card Is Immigrants' Safe Harbor.
January 11, 2007... A reloadable prepaid card has become a nonprofit group's way of helping unbanked immigrants feel safer by not having to carry as much cash. New Labor, a New Brunswick, N.J.-based not-for-profit organization that works with immigrants,...

Co-op Financial To Form ATM Management Firm.
January 11, 2007... Two credit-union service organizations have formed an alliance to provide outsourced management services for credit union-owned ATMs. Co-op Financial Services, operator of the nation's largest surcharge-free ATM network, and CU Anytime LLC,...

Mercator: EFT And ATM Processing Fees Vary By As Much As 300%.
January 11, 2007... Major EFT and ATM processors deliver essentially the same services to medium and small-size banks. But processors' prices vary widely, according to a recent report by Mercator Advisory Group. The report "EFT/ATM Network Processing Review:...

NCR To Spin Off Teradata Unit To Focus on ATMs.
January 11, 2007... NCR Corp. is going it alone. The nation's largest ATM manufacturer in terms of sold and installed machines this week announced it is spinning off its fast-growing Teradata Data Warehousing business in a tax-free transaction to NCR shareholders....

Cross-Border Deal Signed.
January 11, 2007... NYCE Payments Network LLC recently signed an agreement allowing consumers from Puerto Rico and the Virgin Islands to pay with their PIN-debit cards at U.S. stores in the NYCE EFT network. NYCE signed the deal with Evertec Inc., which processes...

Tranax Offers Glitch Fix.
January 11, 2007... Tranax Technologies is distributing software it claims will prevent thefts from its Mini Bank ATM, similar to what occurred last September in Virginia when the ATM's owner did not change the machine's default code. A thief stole thousands of...

Debit Users Split On Security.
January 18, 2007... Debit card users are almost evenly split when judging the security of signature-based versus PIN-based transactions. Auriemma Consulting Group reports that 53% of debit card users believe PIN-approved purchases are more secure, while 47%...

Debit Use Up At U.S. Bancorp.
January 18, 2007... U.S. Bancorp this week reported 2006 fourth-quarter credit and debit card revenue of $210 million, up 7% from $197 million during the same three-month period in 2005. Credit and debit card revenue for all of 2006 was $800 million, up 12.2% from...

Lines Form To Support Prepaid Networks.
January 18, 2007... Three of the four major card associations either have launched or joined networks that support the reloading of prepaid cards, a sure sign that Visa, MasterCard and Discover believe there is gold to be mined in the pockets of the unbanked. ...

ATM Thefts Prompt Banks To Offer Rewards.
January 18, 2007... Instead of knocking over banks, thieves in Arizona literally are knocking over ATMs with heavy construction equipment, hauling off the machines and sometimes getting away with the thousands of dollars the safes hold. Crooks have stolen...

Is Bank of America Using MasterCard To Bully Visa?
January 18, 2007... Ken Lewis has negotiated with, critiqued and threatened Visa USA in public before. So it is possible that Bank of America's renegotiated pricing with MasterCard for debit cards BofA does not and may not be able to issue is another move by the...

NCR Restructures Worldwide Manufacturing.
January 18, 2007... ATM manufacturer NCR Corp. is restructuring its worldwide manufacturing operations to make the company more competitive internationally. The "rightsizing" will lead to 1,200 company layoffs this year in Scotland, the United States, Canada...

PIN Debit's Tax Break.
January 18, 2007... Link2Gov, a Metavante Corp. business unit, recently announced that consumers can pay taxes with their PIN-debit cards. Ed Braswell, Link2Gov's president, claims this is an industry first for Link2Gov, an IRS-authorized payment provider. The...

Tranax, Nautilus Hyosung Split.
January 18, 2007... Tranax Technologies Inc. and its ATM manufacturing company, Nautilus Hyosung, have parted ways. The two had been partners since 1998. Nautilus Hyosung says it will begin selling ATMs and related services for the U.S. retail market next month....

News Briefs.
January 25, 2007... A RECENT U.S. SECURITIES EXCHANGE A RECENT NCR REPORTS EARNINGS NCR Corp.'s Financial Self Service business, which is ATM manufacturing, today reported fourth-quarter yearend revenues and operating income. Fourth-quarter revenues were $472...

Debit's Popularity Is Not Rewarding.
January 25, 2007... Comerica Bank recently added something to its WorldPerks Visa check card and WorldPerks Business Visa check that most debit card issuers do not offer their customers: rewards perks. Both Visa USA and MasterCard Worldwide are hoping to encourage...

TJX Data Breach Could Lead To Major Changes.
January 25, 2007... The nation's debit card issuers continue to evaluate whether to reissue millions of cards in reaction to a major data breach at TJX Cos., which owns 2,300 stores operating under T.J. Maxx, Marshalls and other names. More than 40 million...

Tranax Divorce From Nautilus Is Acrimonious.
January 25, 2007... ATM manufacturer Tranax Technologies Inc.'s break-up with its long-time manufacturing partner would have made the front pages of supermarket tabloids if the companies were Hollywood stars. Tranax and Nautilus Hyosung Inc., a Korean company...

Fed Details A Tale Of Two Products.
January 25, 2007... The Federal Reserve Bank of Kansas City has published its 2006 update on debit cards and ATMs, and a reconstructed sentence from Charles Dickens' novel "A Tale of Two Cities" could easily sum up what is happening: It is the best of times for...

Credit Union Adds Cardwizard.
January 25, 2007... Tower Federal Credit Union has signed a contract to use Dynamic Card Solutions' CardWizard system to instantly issue debit cards to its members. The Laurel, Md.-based credit union has issued more than 9,500 debit cards on the spot since...

Tsys Signs Processing Pact.
January 25, 2007... TSYS Acquiring Solutions says it has signed an agreement to provide transaction-processing services for National Processing Co. National's merchant clients operate a combined 275,000 store locations. In September, the company purchased BA...