ATM & Debit News articles from June 2008

ATM & Debit News archives from June 2008

New Briefs.
June 5, 2008... PRIVATE INVESTMENT GROUP MAY BUY BIGGEST U.S. SUPPLIER OF ATM CASH Bayside Capital Inc., a private investment firm, is close to purchasing Pendum Inc., the nations largest independent supplier of cash to ATMs. The purchase is imminent...

Wincor Nixdorf Passes Diebold In Worldwide ATM Shipments.
June 5, 2008... Wincor Nixdorf International GmbH has moved into second place among the worlds largest ATM manufacturers based on shipments in 2007, according to a private study by Retail Banking Research, a London-based strategic research and consulting firm....

Two Federal Agencies Post Proposed Rules To End 'Deceptive' Debit Overdraft Practices.
June 5, 2008... Two federal agencies have posted a proposed rule on their Web sites that would prohibit what officials consider unfair or deceptive debit and credit card practices. The regulation would require institutions to allow customers to opt out of...

Kiosks Enable Consumer Cash Payments For Bills To Help Credit Union Members Locate Network ATMs.
June 5, 2008... Ready Credit Corp. has struck an agreement to enable consumers to use its kiosks to pay bills in cash through CheckFreePays bill-payment system. Ready Credit, which is based in Eden Prairie, Minn., sells ReadyCard prepaid MasterCards at...

United Technologies May Withdraw Unsolicited Bid For Diebold.
June 5, 2008... United Technologies Corp., which in March made an unsolicited $2.66 billion buyout offer for Diebold Inc., may withdraw its bid if it does not receive more financial information from Diebold. Well not buy that property without appropriate...

Weak U.S. Dollar A Factor In Higher Canadian Debit Card Spending.
June 5, 2008... Canadian shoppers are using their debit cards in U.S. stores more than ever because of favorable exchange rates, close proximity and an affinity for American vacation spots, says NYCE Payments Network. During November and December,...

India's HFDC Bank Buys 300 NCR ATMs; Manufactuer Also Manages Network.
June 5, 2008... HDFC Bank, one of Indias first privately held banks, has purchased 300 ATM cash dispensers from NCR Corp., Rakesh Aulaya, spokesperson for NCR of India, tells ATM&Debit News. The rollouts have started, and we expect to complete the final...

California's Chevron Federal Credit Union Converting 55,000 Debit Cards To PSCU.
June 5, 2008... PSCU Financial Services, a credit-union service organization, has signed a five-year agreement with Chevron Federal Credit Union to convert 55,000 debit cards to PSCU Financials debit platform, the companies announced Monday. Oakland,...

U.S. Bank Issuing Visa PayWave In Four States.
June 5, 2008... U.S. Bank announced June 2 that it is issuing Visa Inc. payWave cards to its debit cardholders in California, Colorado, Missouri and Utah. U.S. Bank is not disclosing the number of payWave cards that will be issued, according to a bank...

Vendor Briefs.
June 5, 2008... Shareholders Claim Deception In Their Class-Action Lawsuit Against TRMs Former Bosses TRM Corp. shareholders are alleging in a class-action lawsuit that the ATM ISOs previous managers deceived shareholders about the companys financial...

Personnel items.
June 5, 2008... TRITON SYSTEMS OF DELAWARE INC. Long Beach, Miss.-based Triton Systems of Delaware Inc. announced that Heather Rose has been promoted to configuration/compliance manager. Rose is responsible for configuration of Tritons ATM models. ...

Coming Events.(Conference news)(Calendar)
June 5, 2008... MILLENNIAL FINANCIAL SERVICES FORUM The Millennial Financial Services Forum is scheduled for June 9 at the Harmonie Club in New York. The inaugural event will focus on understanding and attracting younger consumers. The sessions include...

News Briefs.
June 12, 2008... BOFA RAISING ATM SURCHARGE IN CHICAGO TO MATCH ELSEWHERE Bank of America Corp. is raising its ATM surcharge in the Chicago market to $3 from $2 per transaction, making the citys surcharge the same as the bank charges nationally, according...

Citi Is Replacing Self-Made ATMs, With Machines From 3 Vendors.
June 12, 2008... Citibank, which operates the nations eighth-largest bank-owned ATM network, next week will begin replacing most of its ATMs in a bid to improve customer service. The announcement, coming after an inquiry by ATM&Debit News, reinforces Citis...

Late In Entering The U.S. Debit Card Market, MasterCard Sparks Use Through Incentives.
June 12, 2008... MasterCard Worldwide has some catching up to do in the debit card market to meet its own goals, Timothy H. Murphy, MasterCard U.S. region president, told analysts during a recent conference call. We acknowledge the perception that...

Popular Mini-Bank ATM Gets A Reprieve Following Nautilus Customer Complaints.
June 12, 2008... Grapevine, TexasNautilus Hyosung America Inc.s Mini-Bank 1500 ATM was headed to the gallows last yeara victim of age discriminationbut complaints to management by Nautilus Hyosungs distributors and ATM ISOs won the machine a reprieve. Last...

Debit Card Interchange Rates Increase, But Signature's Is Much Higher Than PIN's.
June 12, 2008... Issuers are making more money as debit card interchange rates increase, but many in the industry still fail to track the fees accurately, according to a recent Oliver Wyman Group study. Average gross signature-debit interchange revenue per...

Michigan Paying Benefits By Direct Deposit Or Debit Cards.
June 12, 2008... Michigans Unemployment Insurance Agency on June 2 began offering direct deposit and debit cards for unemployment benefits. Until now, the state offered only checks, says Norm Isotalo, an agency spokesperson. Unemployed workers who...

Vendor Briefs.
June 12, 2008... BREACH PROMPTS INDIANA BANK TO REISSUE ITS DEBIT CARDS 1st Source Bank is reissuing all of its debit cards following a computer breach May 12 at the South Bend, Ind.-based institution. Hackers broke into 1st Sources computer and compromised...

Personnel Items.
June 12, 2008... BARCLAYS PLC Wilmington, Del.-based Barclays PLC has named Kevin M. Sullivan managing director of communications for Barclaycard US, the credit card business of Barclays PLC in the United States. Sullivan will oversee media relations and...

News Briefs.
June 19, 2008... UKRAINE BANK BUYS ATMS, TERMINALS FROM WINCOR NIXDORF INTERNATIONAL Nadra Bank, with is based in Kiev, Ukraine, announced Tuesday it has agreed to purchase an undisclosed number of ATMs and transaction terminals from Wincor Nixdorf...

Flood Waters In Iowa Shut Banks And Destroy ATMs In Affected Areas.
June 19, 2008... Iowa flood waters have inundated area bank branches and disabled ATMs, and bank executives will not be able to determine the extent of the destruction until they get a first-hand look at the damages after the waters recede. But ATM...

PIN And Signature Debit Use Continues To Grow, But Study Says Market Has Room For Growth.
June 19, 2008... Debit card use at the point of sale continues to grow, with cardholders who use both PINs and signatures completing more debit transactions than those who use only one method or the other, according to a First Data Corp. study released June 5....

Check-Cashing ATMs Target The Unbanked, Underbanked: It's back to the future for check-cashing ATMs.
June 19, 2008... Diebold Inc. announced last week that its Opteva line of intelligent-deposit ATMs cash payroll, benefits and IRS checks. Diebolds announcement comes five months after Tranax Technologies Inc., a Newark, Calif.-based off-premise ATM maker,...

U.S. Treasury Launches Card Promotion As 14,000 Switch To Debit From Checks.
June 19, 2008... Fourteen thousand federal-benefits recipients have chosen to receive their funds electronically in prepaid debit card accounts instead of by paper check since the U.S. Department of the Treasurys Financial Management Service began promoting the...

Big Jump In ATMs For Central And Eastern Europe.
June 19, 2008... The region that encompasses Central and Eastern Europe remains one of the worlds hot growth markets for ATM deployment, according to Retail Banking Research Ltd., a London-based strategic research and consulting firm. The ATM market in the...

Vendor Briefs.
June 19, 2008... IDAHO CREDIT UNION CONVERTS DEBIT CARDS PROCESSING PLATFORM Idaho Central Credit Union, the states largest credit union based on assets and members, is converting all 40,000 of its signature- and PIN-debit cards to PSCU Financial Services...

Personnel Items.
June 19, 2008... NETSPEND CORP. NetSpend Corp. has promoted James DeVoglaer to senior vice president of information technology, Paige Ellis to vice president of human resources, Lisa Henken to vice president of partner services, Andrew Byala to software...

News Briefs.
June 26, 2008... SUN COUNTRY AIRLINES WELCOMES DEBIT AND CREDIT CARDS ON BOARD Sun Country Airlines on June 17 began accepting Visa and MasterCard debit and credit card for in-flight sales. The St. Paul, Minn.-based airline expects card payments to help...

Credit Union Will Offer Members Two Mobile-Banking Options.
June 26, 2008... Boeing Employees Credit Union, the nations fourth-largest based on assets, has signed agreements with Firethorn Holdings LLC and MShift Inc., two companies that will offer mobile banking and, in a few years mobile payments to the credit unions...

Paychecks Are Out Of A Job As Work Program Switches To Cards For Teens, Young Adults.
June 26, 2008... Teenagers and young adults employed through the mayor of Washington, D.C.s summer jobs program will receive their pay on Visa-branded payroll cards issued by JPMorgan Chase & Co., District of Columbia and bank officials announced Friday. ...

Diebold Takes Starring Role In New High-Tech Bank Branch.
June 26, 2008... When Washington Trust Co. customers visit the banks new branch in downtown Providence, R.I., they will not have to stand in line and stare at the back of someones head while waiting to meet with a teller. The branch will feature Diebold...

Benefits Recipients In Flooded Areas Urged To Switch To Electronic Payments.
June 26, 2008... The U.S. Treasury Department is recommending federal-benefits recipients in states struck by recent flooding switch their payments from checks to direct deposit. The change could ensure benefits continue to reach recipients even after a natural...

Chase Pursues Hispanic Market With New TV And Radio Campaign.
June 26, 2008... JPMorgan Chase & Co.s Chase Bank has launched a Spanish-language advertising campaign designed to attract Hispanic consumers to Chases financial services. The campaign, which began June 11, includes two television and three radio commercials...

Vendor Briefs.
June 26, 2008... CARDTRONICS REPORTS 8% DECLINE IN THE SIZE OF WITHDRAWAL TRANSACTIONS Cardtronics Inc., the worlds largest ATM ISO, has seen an 8% decline in the size of withdrawal transactions because of the economy, according to an analyst report...

Investment Firm Buys Majority Stake In Nation's Largest ATM Cash Supplier.
June 26, 2008... Bayside Capital, a private investment firm based in Miami, has purchased a controlling interest in Pendum LLC, the nations largest provider of cash to ATMs, both companies announced Wednesday. Neither company disclosed the amount of the...

Cardtronics Deploys ATMs In Universal Hollywood And Universal Orlando.
June 26, 2008... Cardtronics Inc., the worlds largest ISO in terms of ATMs managed and owned, is teaming with GE Money to deploy ATMs inside theme parks Universal Hollywood and Universal Orlando, the two companies announced this week. The agreement...

Personnel Items.
June 26, 2008... MASTERCARD WORLDWIDE MasterCard Worldwide has named Rob Reeg president of MasterCard Global Technology&Operations. Reeg had served as interim president since January. MasterCard Worldwide also promoted Michael Manchisi to chief...

Coming Events.(Calendar)
June 26, 2008... Upcoming Web Seminar Devoted To Underbanked Consumer Study The Center for Financial Services Innovation is scheduled to discuss the results of its Underbanked Consumer Study July 8 at 2 p.m. EDT during a Web seminar. Michael Herrmann,...