ATM & Debit News articles from June 2007

ATM & Debit News archives from June 2007

NCR's ATM Manufacturer Sold.
June 7, 2007... Flextronics International Ltd. announced Monday that it has reached an agreement to purchase Solectron Corp., the company that will manufacture NCR Corp.'s ATMs in the Americas. Solectron, a Milpitas, Calif., electronics manufacturer, in...

Women Are Carrying More of the Debit Load.
June 7, 2007... When television wives went on shopping sprees during the '60s and '70s, they held up their credit cards and shouted, "Charge it!" In the real world of today as opposed to the reel world of yesterday, more women are putting their purchases...

Cardtronics Thanks Heaven for 7-Eleven.
June 7, 2007... Cardtronics Inc. has reached an agreement to purchase all of 7-Eleven Inc.'s U.S. ATM operations for $135 million in cash, the company announced late Tuesday. The deal will make Cardtronics the world's largest non-bank owner of ATMs, the...

Capital One's New Debit Card Will Test Visa's Hold on Market.
June 7, 2007... Capital One Financial Corp. is issuing a new debit card that has the potential of dramatically challenging Visa's control of the traditional debit card industry, according to a report published Monday by Aite Group LLC. Capital One...

Pulse PINs Bank With Exclusive Agreement.
June 7, 2007... The Pulse EFT Association said Tuesday it has signed an exclusive long-term agreement with UMB Financial Corp., a Kansas City, Mo., bank with $8 billion in assets. Pulse will provide PIN debit card processing at the point of sale for UMB...

Visa Reports Debit Increase.
June 7, 2007... Visa USA says U.S. holders of signature-based, or offline, Visa check cards used the plastic to initiate 3.2 billion purchases during the first quarter ended March 31, up 10% from 2.9 billion during the same period last year. Check card...

TRM's Survival Called into Question.
June 7, 2007... TRM Corp., the nation's second-largest non-bank ATM owner, may not survive, its auditor warns. Because of a net loss of $120.1 million in 2006, TRM is unable to meet certain loan covenants, which could make the loans callable this year,...

TRM's Possible Demise was Expected.
June 7, 2007... TRM Corp.'s possible demise comes as no surprise to Co-op Financial Services, which operates 4,000 of TRM's ATMs as part of Co-op's 25,000 ATM surcharge-free network. "We have been anticipating it for sometime," says James Hanisch,...

VeriFone's Big Deal Meal.
June 14, 2007... Payment terminal maker VeriFone Holdings Inc. this morning announced that it has received its largest order ever for its On The Spot, or pay-at-the-table restaurant service. Cara Operations Ltd., the Mississauga, Ontario, owner of more than...

Fraud Ends Comerica Tradition.
June 14, 2007... Because of increasing fraud, Comerica Bank of Detroit yesterday ended a longstanding tradition of allowing customers to deposit checks into other banks' ATMs throughout Michigan, Kathy Pitton, a Comerica Bank spokesperson, tells ATM&Debit News....

Chinese Bank Picks Terminals From VeriFone.
June 14, 2007... China's fifth-largest bank has named VeriFone Holdings Inc. its sole supplier of payment terminals to process debit and credit card transactions, VeriFone announced Wednesday. China Postal Savings Bank, which began operating as a full-scale...

Nautilus Surfaces As New Rival To Old Partner.
June 14, 2007... ATM manufacturer Nautilus Hyosung is scheduled to hold its first users conference this summer, six months after an angry public split with former partner Tranax Technologies Inc. Holding the gathering means that Nautilus, which used to...

Court Orders Visa To Repeal High Fee On Debit Card Issuers That Defect.
June 14, 2007... A U.S. District Judge last week ordered Visa USA to stop assessing a settlement service fee that required Visa's 100-largest debit card issuers to pay the card association huge sums if the issuers switched their debit card business to...

Service Fee A 'Show Stopper'.
June 14, 2007... Four banks that switched their debit card portfolios to MasterCard from Visa did so only after MasterCard indemnified the financial institutions from Visa's settlement service fee, according to court documents. Washington Mutual Savings...

Metavante Expands Rewards Platform To Include Online Bill Pay.
June 14, 2007... The first banking rewards program began shortly after the introduction of the Toastmaster pop-up toaster in 1926, and ever-broadening rewards programs continue to strike a positive chord with consumers today. By some industry estimates,...

Vendor News.
June 14, 2007... THAI BANK ORDERS NCR ATMS Siam Commercial Bank, based in Bangkok, Thailand, has ordered new NCR Corp. ATMs. The order is for 55 NCR Personas M series 74 ATMs designed for high-capacity cash deposit and bill-payment transactions. The ATMs...

NCR Maintains European Share.
June 21, 2007... NCR Corp. controlled 46% of the installed base of ATMs last year in 18 Western European countries, making the Dayton, Ohio-based company the clear market leader, says Dominic Hirsch, managing director of the Retail Banking Association, which...

VeriFone Takes A Lot Of Seats At Dinner Table.
June 21, 2007... Payment-terminal maker VeriFone Holdings Inc. announced last week that it has received the largest order ever for its On The Spot, or pay-at-the-table, restaurant service. Cara Operations Ltd., the Mississauga, Ontario, owner of more than...

Manufacturers Of Retail ATMs Wage Price War.
June 21, 2007... Cutthroat competition among ATM manufacturers trying to gain a larger market share in the once-stable off-premise ATM industry has led to a dramatic drop in prices, officials say. During the last three months, prices for retail ATMs, which...

Another Payment Group Organizes To Represent Prepaid Interests.
June 21, 2007... To help ease the growing pains of prepaid commerce, particularly in Europe, about 20 companies have established an industry group called the Prepaid International Forum. The forum, whose membership includes such major payment players like...

Visa, Burger King Join Forces.
June 21, 2007... Burger King, the Miami-based quick-service restaurant chain, and Visa USA are working together on a promotion to encourage customers to pay for their burgers, fries and shakes with a Visa check card. When a customer buys 10 meals with his...

ATM Deployments Expand By 4.4% In Western Europe.
June 21, 2007... New ATM installations grew 4.4% in Western Europe last year from a four-year low of 4% in 2005, Retail Banking Research Ltd., a West London-based strategic research and consulting firm that compiles annual data on ATM deployments, reported...

Cardtronics Signs Deal.
June 21, 2007... Cardtronics Inc., the largest non-bank owner of ATMs, has signed a branding agreement with State Employees Credit Union in the Tallahassee, Fla., area. The agreement gives the credit union the right to place its name on nine ATMs' screens...

Vendor News.
June 21, 2007... NCR EXPANDS ATM AGREEMENT Commerce Bancorp of Cherry Hill, N.J., Tuesday renewed and expanded its ATM -services agreement with NCR Corp. The new agreement is for five years, expiring in 2012. Dayton, Ohio-based NCR will deploy NCR Personas...

News Briefs.
June 28, 2007... CARDTRONICS SETTLES LAWSUIT Cardtronics Inc., the largest nonbank owner of ATMs, has reached an out-of-court settlement with the National Federation of the Blind and the Commonwealth of Massachusetts to provide ATM access to the blind and...

Euronet Expands ATM Agreement With Chinese Bank.
June 28, 2007... Euronet Worldwide Inc. last week announced plans to deploy 721 ATMs for China Postal Savings Bank as part of an expanded agreement between the two companies. Euronet, a Leawood, Kan.-based operator of the largest shared ATM network in...

For Debit Cards, Purchases Grow, Penetration Slows.
June 28, 2007... The percentage of U.S. households with debit cards has grown dramatically in the past four years, but debit card penetration is slowing, according to a study released this week by TNS Group, the New York-based market-intelligence firm. On...

Eastern, Central European Countries Report Increase In ATM Deployments.
June 28, 2007... The number of installed ATMs in the 15 countries of Central and Eastern Europe grew 24.5% in 2006, making the area the second-fastest growing region for ATM placements behind the Middle East and Africa, according to a study released Wednesday....

Fidelity National To Buy eFunds.
June 28, 2007... Fidelity National Information Services Inc. today announced it has agreed to purchase eFunds Corp., a Scottsdale, Ariz.-based EFT processor, for $1.8 billion. The deal, scheduled to close in September, will be the third change in ownership...

Cardtronics, ING Sign Agreement.
June 28, 2007... Cardtronics Inc., the largest nonbank owner of ATMs, Tuesday signed an ATM-branding agreement with Wilmington, Del.-based ING Direct, the nation's largest online bank in terms of assets. ING Direct will brand seven Cardtronics ATMs in ING...

Regions Financial Signs Long-term Visa Debit Contract.
June 28, 2007... Regions Financial Corp., the nation's 17th -largest card issuer and ninth-largest bank in terms of assets, Monday announced that it has signed a new long-term agreement with Visa USA. As part of the contract, Regions will continue offering...

Vendor News.
June 28, 2007... TWO BANKS JOIN ALLPOINT County Bank in Merced, Calif., and River City Bank in Sacramento, Calif., have joined Allpoint's surcharge-free ATM network. Allpoint has 32,000 surcharge-free ATMs. TRM SELLS CANADIAN BUSINESS TRM Corp.,...