ATM & Debit News articles from June 2005

ATM & Debit News archives from June 2005

KeyCorp In Genpass Deal.
June 9, 2005... Genpass Inc., manager of the MoneyPass surcharge-free ATM network, has signed an agreement with Cleveland-based KeyCorp, one of the nation's largest financial institution ATM owners. According to the agreement, KeyCorp will offer its agent bank...

CO-OP, Alaska Option In Pact.
June 9, 2005... Ontario, Calif.-based CO-OP Network of credit unions and Alaska Option, Alaska's top EFT network, announced that they have agreed to open a gateway link between the two services. The agreement gives Alaskan credit unions that use Alaska Option...

Debit Rivals Credit As Preferred Cards, But Motives Murky.
June 9, 2005... Move over credit cards. Your debit card cousins are quickly becoming the preferred card to carry in consumer wallets. However, use of rewards to encourage use of debit cards is still relatively rare among debit card issuers. It seems that debit...

EBT Surcharging At Issue In Suit Against First Data.
June 9, 2005... Surcharging bans on ATMs in the commercial world have never gained legal traction. However, ATM processors that pass along ATM surcharges do so at their own peril for many transactions involving electronic benefits transfer cardholders. ...

Chase Merchant Services Pressing For Wider Biller Use Of PINless Debit.
June 9, 2005... EFT networks have benefited from the growing use of PIN-debit by consumers and merchants as a replacement for checks and cash for purchases at point-of-sale locations. Indeed, Bentonville, Ark.-based Wal-Mart Stores recently disclosed that...

EBT Surcharge Policies.
June 9, 2005... States Policy Illinois, New Jersey Outright Ban 25 States Some Free Transactions 10 States No Free Transactions Source: ATM&Debit News sources. Based on 2001 data. ...

Full Steam Ahead For U.S Navy's Cashless Cards.
June 9, 2005... The U.S. Navy's efforts to become a cashless society on its ships is causing its at-sea ATM program to disappear. Machines that accept smart debit cards are replacing Navy ATMs. The replacements are part of the Navy's conversion to...

Card Preference Survey.
June 9, 2005... Credit Card 49% Debit Card 48% Private Label Card 3% Source: Edgar, Dunn & Co. survey. (c) 2005 ATM&Debit News and SourceMedia, Inc. All Rights Reserved. http://www.cardforum.com...

Hypercom Signs With SiVault.
June 9, 2005... Retailers that use Hypercom's Optimum L4100 point-of-sale terminals now can sign up for a biometrics-based, signature-authentication service. The service agreement was announced recently by Phoenix-based Hypercom Inc. and San Jose, Calif.-based...

Next Estate Uses Payment Data.
June 9, 2005... San Antonio-based Payment Data Corp. has signed an agreement with Monrovia, Calif.-based Next Estate Co. to use Payment Data's IPS ACH service. The service allows Next Estate's prepaid debit card customers to load value on the cards via...

FDC Makes Europe A Priority.
June 16, 2005... First Data Corp. will acquire EuroProcessing International, a Norwegian debit and credit card processor with financial institution clients in Central and Eastern Europe, from Reiten & Co Capital Partners V AS. Financial details of the purchase...

UK International Fraud Down.
June 16, 2005... Cross-border fraud committed on credit and debit cards issued in the United Kingdom has fallen to a five-year low, according to figures released by APACS, a card-issuer group in the UK. Total fraud committed abroad on UK-issued cards in 2004...

CO-OP Names Hollen CEO.
June 16, 2005... Stanley C. Hollen will succeed Robert Rose as CEO of the Ontario, Calif.-based CO-OP network of credit unions. Rose, who has led the CO-OP for 15 years, had previously announced his retirement. Hollen served as CEO of the Sacremento,...

Cash Management Becomes Trendy With Tight Margins.
June 16, 2005... A continuing downturn in ATM transaction volumes may be bad news for ATM independent sale organizations that operate retailer ATMs. But the trend is sparking new business for some ATM service providers. Westmont, Ill.-based Efmark Inc.,...

Ace Cash Finds More Convenient Loading System.
June 16, 2005... About two years ago, one of the nation's largest check cashers, Ace Cash Express, began selling a reloadable, MasterCard-branded prepaid debit card to its check-cashing customers. At that time, the card could only be reloaded with value at...

Lower Purchase Prices For ATMs Ushers In Era Of Cash-And-Carry.
June 16, 2005... For small merchants, deploying an ATM often means securing a lease-to-own arrangement with leasing firms marking up the purchase price to carry a loan. However, steadily declining ATM prices is cutting out the leasing company middlemen....

Prepaid Firms Carry Big Price Tags.
June 16, 2005... Recent acquisitions indicate that prepaid debit cards are becoming big business. Last week, Scottsdale, Ariz.-based eFunds Corp. announced the purchase of Sunrise, Fla.-based WildCard Systems Inc., a major prepaid debit card processor....

CVS Buys Hypercom RFID Units.
June 16, 2005... The CVS Corp. pharmacy chain will buy 12,000 Hypercom Corp. terminals that accept contactless cards using radio frequency identification (RFID) technology for use in 5,400 stores. CVS will buy the Optimum L4100 terminals, which also reads...

Diebold To Close ATM Plant.
June 16, 2005... Diebold Inc. is closing a plant in Danville, Va., to realign its U.S. ATM manufacturing operations. George Mayes, Diebold vice president, said in a statement that the company's new line of Opteva ATMs require less manufacturing capacity. "For...

New Jersey Picks ACS.
June 23, 2005... Dallas-based Affiliated Computer Services Inc. is the new main electronic benefits transfer contractor for New Jersey. ACS will replace Scottsdale, Ariz.-based eFunds Corp. as the provider of EBT debit cards and transaction processor for both...

Branded Prepaid In Walgreens.
June 23, 2005... Walgreen Co. is selling Green Dot prepaid cards carrying the Visa USA and MasterCard International brands, according to Green Dot owner Next Estate Communications Inc. Walgreens will promote the cards with gift cards in its 4,805 stores in 45...

Debit Missing From Contactless In Recent Rollouts.
June 23, 2005... Much of the recent fanfare accompanying contactless card payments revolves around credit cards. So far, a debit function to contactless cards is not being added. New York City-based J.P. Morgan Chase & Co. recently announced its "blink"...

Phishing Blows By Skimming As Top Fraud Choice.
June 23, 2005... Skimming at ATMs and PIN-debit terminals at point-of-sale locations for consumer PINs and card data is the most widely known form of fraud involving PIN-debit cards. With skimming, fraudsters depend on physical access to terminals to fool...

Airport Managers Demanding More From Bidders Of ATM Contracts.
June 23, 2005... Operating ATMs in the nation's busiest airports provides deployers with exceptionally high visibility for their machines and extraordinary transaction volumes. But unlike other off-premise, nonbank ATM locations, airport ATM contracts come with...

New Co-Op CEO Expects Growth.
June 23, 2005... With an ATM check-imaging pilot program in place and transaction growth relatively high, Stanley Hollen, the new CEO of Co-Op Network, the nation's largest credit union network, expects significant expansion. "Our membership is up, transaction...

Chase, Cardtronics In ATM Deal.
June 23, 2005... JPMorgan Chase & Co. is branding 216 Houston-based Cardtronics Inc. ATMs currently located in Duane Reade drugstores throughout the five boroughs of New York. Chase also plans to brand 30 existing Cardtronics ATMs in Duane Reade stores in Long...

TNS To Distribute Mint Cards.
June 23, 2005... Mint Technology Corp., Toronto, Canada, and Horizon Plus Card Services, announced a distribution agreement with TNS Smart Network Inc. for TNS to distribute 15,000 PrepayEdge, MasterCard-branded prepaid debit cards. Peoples Trust Bank,...

Check Card Volume Up 16.6%.
June 30, 2005... Transaction volume on Visa check cards grew 16.6% to 2.4 billion in the first quarter compared to the first quarter of 2004, according to Visa USA. Transaction volume in Visa's PIN-debit, Interlink point-of-sale network grew 144.6% to 600...

Dual Debit Use Higher.
June 30, 2005... A consumer survey of debit card use just released by First Data Corp., owner of the Star EFT network, suggests that, while consumers prefer the PIN-debit function on debit cards over the signature-debit function, they prefer multiple payment...

ATM Servicers On Alert To Detect Skimming Devices.
June 30, 2005... While so-called "phishing" on the Web is the fastest-growing form of PIN-debit fraud (ADN, 6/23), skimming for cardholder data remains a threat not to be overlooked by ATM deployers. In 2003, U.S. banks lost an estimated $43 million because of...

PIN-Debit Network Interchange Rates Keep On Changing.
June 30, 2005... Interchange rate policies set by EFT networks for PIN-debit transactions are still bubbling with changes, according to a new survey by ATM&Debit News. Most networks, after adopting tiered-rate structures to replace flat fees, are now tweaking...

Users Of Microsoft Windows On ATMs Report Installation, Other Problems.
June 30, 2005... Both small and large financial institutions moving from an OS/2 operating system to Microsoft Corp's Windows operating system for ATMs are beginning to see the benefits, despite a few bumpy starts and wariness of the virus-prone Windows. ...

How Regional Shared Network Interchange Compares.
June 30, 2005... (part 1 of 2) Network Withdrawal Inquiry Deposit Star 46cents-54cents 20cents-25cents $2-$2.25 NYCE 38cents-55cents 25cents $2-$2.25 ...

How Regional Shared Network Pricing Varies.
June 30, 2005... (part 1 of 2) 2005 ATM 2004 ATM 2005 POS Network Switch Fee Switch Fee Switch Fee Star 3cents-8cents 3cents-9cents ...

Techniflex Settles NCR Suit.
June 30, 2005... Dayton, Ohio-based NCR Corp. has settled its lawsuit against Republic, Mo.-based maintenance provider Tecniflex, which NCR alleged had stolen and misused some of NCR's diagnostic software and manuals for servicing ATMs. Tecniflex agreed to pay...

TRM On Russell 3000 Index.
June 30, 2005... Portland, Ore.-based TRM Corp., the second-largest ATM independent sales organization in the U.S., announced that the firm has been added to the Russell 3000 stock index. The listing occurred as of June 24. The Russell 3000 Index measures the...