ATM & Debit News articles from July 2005

ATM & Debit News archives from July 2005

BofA Creates Card Power.
July 7, 2005... Bank of America Corp.'s deal to buy the nation's largest credit card issuer, MBNA Corp., for $35 billion and an earlier deal announced by Washington Mutual Bank to purchase the Providian Financial Corp. credit card brand for $6.45 billion has...

Debit Grows In Popularity.
July 7, 2005... Quarterly reports by MasterCard International and Visa International indicate debit card use among consumers remains strong. MasterCard today announced that purchase volumes on MasterCard-branded, PIN-debit cards grew 459% in the first quarter...

ECount Looks To Broader Rollout For Teen Cards.
July 7, 2005... Debit cards for teenagers represents one of the first attempts to mass-market reloadable, prepaid debit cards that carry a network brand. Visa USA, five years ago, created the Visa Buxx prepaid debit card for use by teenagers. The Buxx card...

EFunds Sends Clear Signal With Wildcard.
July 7, 2005... After several years of foundering with an unprofitable foray into ATM management, Scottsdale, Ariz.-based eFunds Corp. last year sold off its 17,000-strong ATM portfolio. With cash on hand from the ATM sell-off, eFunds now is entering the...

Survey: Most Bank ATMs Are Still Operating On Old Encryption Standard.
July 7, 2005... Although MasterCard International's deadline for ATMs in the U.S. to comply with stricter transaction-encryption standards passed three months ago, nearly 75% of the nation's financial institutions have yet to reach full compliance, according...

Diebold Says Fierce Competition Is Forcing A Decline In ATM Prices.
July 7, 2005... On the heels of one of Diebold Inc.'s most successful ATM sales years in 2004, the company now is downgrading its U.S. ATM sales forecasts this year. Moreover, the downgrade is forcing the North Canton, Ohio-based ATM manufacturer to slash...

Hypercom Gets Vital's Approval.
July 7, 2005... Phoenix-based Hypercom Corp.'s T7 and T7Plus payment terminals have been granted a "class A" approval by Vital Processing Services to process credit, debit, electronic benefits transfer and electronic check conversion payments. The addition of...

TRM Strikes Bowling Deal.
July 7, 2005... Portland. Ore.-based TRM Corp. will deploy 325 ATMs at AMF Bowling Centers Inc. bowling alleys, according to the firm. The contract marks the first time TRM, the nation's second-largest ATM independent sales organization, has deployed ATMs in...

Visa Hails New Chief.
July 14, 2005... John Philip Coghlan, the new president and CEO of Visa USA, said in a Monday interview that he plans to meet with many of Visa's member banks and merchants in the coming months. "I want to hear their agenda," he said. Coghlan replaces Carl F....

New Destiny's Child Card Out.
July 14, 2005... A Destiny's Child prepaid debit card is being launched. The popular musical group is lending its name and photograph to a network-branded, prepaid debit card that is being marketed through Las Vegas-based Celebrity Entertainment Marketing Corp....

PIN Acceptance At QSR Locations An Uphill Climb.
July 14, 2005... There are few merchant categories that rely heavily on cash payments these days. Gas stations, so called "big box" department stores such as Wal-Mart stores, and supermarkets all show sweeping conversions in the past few years from cash and...

Consolidation Continues Among ATM Drivers.
July 14, 2005... Competition to provide processing and settlement services for ATM operators remains fierce in a market that is consolidating, but otherwise seeing little growth, according to a new ATM&Debit News survey of third-party ATM drivers. The...

Visa Reports That Debit Transactions Exceed Credit Volume On The Web.
July 14, 2005... Payments over the Web are looking more like payments in brick-and-mortar locations. Web-based shoppers are now more likely to use their debit cards for purchases than their credit cards, according to Visa International. Visa reports...

New Maintenance Software For ATMs Uses Codes To Cut Repair Costs.
July 14, 2005... The shutdown of an ATM due to a technical problem can cause the machine's owner to lose ATM user revenue, not to mention money spent getting the machine fixed. Speedy repairs are the main goal of a service provider. But sometimes a machine...

TSA Acquires S2 Software Firm.
July 14, 2005... Omaha, Neb.-based Transaction Systems Architects Inc. has acquired S2 Systems, a Plano, Texas-based electronic payments software developer, for $35 million in cash. S2 will be integrated into Transaction System's Base24 EFT...

U.S. Court Denies Injunction.
July 14, 2005... A U.S. District Court on Monday denied a motion filed by the Financial and Security Products Association seeking an injunction to prevent North Canton, Ohio-based Diebold Inc. from implementing its policies on ATM software, parts and...

First Data Shows Slide in 2Q.
July 21, 2005... First Data Corp appears to have had a rough time integrating debit card and EFT network services since purchasing the Star network. First Data's quarterly financial report released last week shows a 12% decline in profits in its debit...

UK Surcharges To Remain.
July 21, 2005... Based on a report produced in March by the Treasury Select Committee in the United Kingdom, British government officials said this week that ATM surcharging is not a threat to consumers and that it would not regulate the practice. There are...

Survey: Banks Get Less Traffic At Their ATMs.
July 21, 2005... Consumers are paying with plastic increasingly, instead of cash and checks. And the fastest-growing form of card payment is PIN-debit, numerous studies and anecdotal evidence indicates. However, it appears the trend toward debit for...

ATM Owner Pushes Cashless Options At Casinos.
July 21, 2005... There is, perhaps, no business sector in the nation more interested in drumming out the expense and risk of handling cash than the historically cash-driven casino industry. The Federal Reserve determined last year that electronic payments...

WIC Program In The Spotlight In Debate Over Smart Cards For EBT.
July 21, 2005... It seems the issue of whether to use smart cards or traditional PIN-debit, magnetic-stripe cards, such as those now widely used to authorize electronic benefits transfer transactions, is heating up as new demonstration pilots begin and old ones...

Lawsuit Against Visa By Retailers Includes Several Debit Issues.
July 21, 2005... The lawsuit filed by the nation's largest supermarket and pharmacy chains last week against Visa USA primarily focuses on credit card interchange policies set by Visa. But the lawsuit, brought by Safeway Inc. and Walgreens Inc., among...

Bank One ATMs At Walgreens.
July 21, 2005... Bank One is deploying ATMs in all 220 Walgreens stores across Arizona by the end of the year, according to the bank. The deal will be in addition to 387 ATMs Bank One currently has in Arizona. All Bank One ATMs in Arizona will be branded with...

ATM USA Buys National ATM.
July 21, 2005... Raleigh, N.C.-based ATM USA LLC. acquired Jacksonville, Fla.-based First National ATM. As part of the deal, details of which were not disclosed, ATM USA acquired 550 ATM-management contracts. The deal allows First National's service technicians...

Judge Dismisses Suit.
July 28, 2005... A federal district court judge in California dismissed a lawsuit that accused Visa USA, MasterCard International and three of their member banks of violating antitrust laws in their interchange prices and policies. The suit was filed last year...

JP Morgan Wins Prepaid Deal.
July 28, 2005... JP Morgan Chase & Co. will issue Visa-branded, prepaid debit cards to replace paper checks for child support payments in Arizona. The state's Department of Economic Security selected Chase to issue the cards and manage the program....

Wal-Mart Positions Itself To Become Own Debit Acquirer.
July 28, 2005... The nation's largest retailer, Wal-Mart Stores Inc., is shaking up the merchant-acquiring and debit-processing world. The giant retailer is seeking to reduce its debit-processing costs through various business moves. The retailer is...

Software Gives Small Businesses New Debit Option.
July 28, 2005... Small businesses, whether a home-based business using the Web or professional services with a store-front office, are not often on the radar screens of merchant acquirers of debit transactions. But now, the largest U.S. merchant acquirer,...

Consumer Demand For More Access Drives Debit Card Limits To New Highs.
July 28, 2005... A much different debit-payment landscape and increasing consumer expectations on the use of PIN-debit cards than in the past is making large debit issuers re-evaluate the restrictive limits to ATM cash withdrawals and PIN-debit point-of-sale...

Swipe USA Huddles With NFL For ATM Business.
July 28, 2005... Using a bit of star power to boost business is a marketing strategy used by many businesses to promote their products. San Francisco-based ATM independent sales organization Swipe USA hopes the addition of Minnesota Viking defensive star...

Bancsource Wins Contract.
July 28, 2005... New York Community Bancorp has hired Bancsource Inc. to replace and maintain 180 of its NCR Corp. and Diebold Inc. model ATMs with Nautilus-Hyosung Computer Co.'s ATMs at 143 branches. (c) 2005 ATM&Debit News and SourceMedia, Inc. All...

NCR ATM Sales Dip in 2Q.
July 28, 2005... NCR Corp. reported a 2% decline on revenues of $323 million in the second quarter for its ATM division. Second-quarter earnings increased to $127 million, from $122 million, during the same period last year, while revenue increased 1.2% to...

Correction.(Correction Notice)
July 28, 2005... A July 22 ATM&Debit News article incorrectly stated U.S. Bank's debit card volume. The bank's point-of-sale debit volume increased from 70% of all volume in 2003 to 80% in 2004. (c) 2005 ATM&Debit News and SourceMedia, Inc. All Rights...