ATM & Debit News articles from March 2005

ATM & Debit News archives from March 2005

Tidel ATMs To Stay The Same.
March 3, 2005... The name will probably change, but the ATMs produced by Houston-based Tidel Technologies Inc. will stay the same for now, says a spokesperson for Dayton, Ohio-based NCR Corp. NCR announced last week that it would purchase Tidel's ATM...

ATM Supplier Suit Moves On.
March 3, 2005... The Albuquerque, N.M-based Financial & Security Products Association announced it will file a motion for a preliminary injunction against North Canton, Ohio-based Diebold Inc. The association represents independent ATM servicers and suppliers....

ATM Processors Grant Access To Free ATM Networks.
March 3, 2005... The growth of for-profit, surcharge-free ATM networks has generally followed an increasing demand for wider surcharge-free access by issuers of new kinds of stored-value debit cards and small issuers searching for more surcharge-free access for...

One More Network Option Remains For J.P. Morgan.
March 3, 2005... In a recent letter to employees, Carl Pascarella, Visa USA's president and CEO, indicated that Visa would become the "preferred payments provider," for New York-based J.P. Morgan Chase & Co. But it remains unclear whether that preferred status...

Canada's Conversion To Chip Cards Seen As Longer, Smoother Than In UK.
March 3, 2005... Canadian bank card issuers, merchants and ATM operators got a wake-up call last month when Interac, the national debit network, says it will have the infrastructure in place for its members to begin issuing chip-based debit cards, based on the...

ISO Offers Its Own One-Stop-Shop ATM Program.
March 3, 2005... Long-term leases have been one of the pillars for small merchants to have an ATM deployed. These lease deals typically have merchants qualifying for a long-term lease with ATM independent sales organizations getting paid upfront for the sale of...

Canada's Chip-Card Migration.
March 3, 2005... Deadline None Goal Chip Cards In Use By 2007 Acceptance ATMs And POS Terminals Standard EMV Source: Interac Association Copyright 2005 SourceMedia, Inc. All Rights Reserved....

EFunds' Quarterly Profit Spikes.
March 3, 2005... Scottsdale, Ariz.-based eFunds Corp., reported a 11.9% net income increase for the fourth quarter of 2004, to $11.3 million from $10.1 million in 2003. Net revenue decreased to $130.5 million from $135.4 million during the same time. The...

Cap One Turns Eye To Debit.
March 10, 2005... Capital One Financial Corp.'s planned $5.3 billion acquisition of New Orleans-based Hibernia Bank will provide the credit card company access to a debit card and ATM portfolio. ATM&Debit News' EFT Data Book 2005 estimates Hibernia's debit card...

TSA Taps Heasley As CEO.
March 10, 2005... Transaction Systems Architects Inc., the parent company of debit transaction software maker ACI Worldwide, has named Philip G. Heasley as the firm's new CEO and president. Heasley was previously CEO of Bank One's First USA credit card unit....

Wells Makes All Its ATMs Talk To Other Banking Channels.
March 10, 2005... In the late 1990s, major ATM deployers such as San Francisco-based Wells Fargo & Co. experimented with value-added functions on their ATMs. Wells, for example, sold ski lift tickets and third-party advertising on a handful of its ATMs....

POS Terminals Are At The Core Of Prepaid Product.
March 10, 2005... Point-of-sale terminal makers have traditionally focused their sales on merchants or the independent sales organizations that resell terminals to merchants. But financial institutions vying for a stake in the expanding prepaid debit card...

Cardtronics Gets On With Its Future After Halting Plans For An IPO.
March 10, 2005... The largest ATM independent sales organization in the U.S. is not pulling the trigger on an initial public offering of publicly traded stock. Houston-based Cardtronics Inc. is instead getting the capital it needs for growth from a private...

Cardtronics At A Glance.
March 10, 2005... Investors CapStreet, T.A. Associates ATM Portfolio 25,000 CEO Jack Antonini 2004 Transaction Volume 111 Million 2004 Revenues $195 million Source:...

Fee Cut Promotes Tax Payments Using Debit Cards.
March 10, 2005... It is not often that a processor of debit transactions voluntarily forgoes fee revenue. But a major processor of electronic tax payments is doing just that. In a partnership with the tax-preparation firm H&R Block and MasterCard...

Hypercom Gets Mixed Results.
March 10, 2005... Hypercom Corp. announced fourth-quarter net income of $4.5 million, down 48.3% from $8.7 million in the fourth quarter of 2003. Net revenue for the quarter totaled $79.7 million, up 25.7% from $63.4 million in 2003. For the year, Hypercom had a...

Ingenico Goes Into The Black.
March 10, 2005... The France-based Ingenico Group POS terminal maker saw its operating income move into the black last year. Ingenico had an operating income of $22.6 million in 2004, compared with a loss of $10.9 million in 2003. The performance was aided by...

Networks Reach Accord.
March 17, 2005... MasterCard International and Visa International will use common radio frequency protocols already used by MasterCard for contactless payment cards that consumers wave by or tap on readers. The Visa-MasterCard agreement should speed the...

Commerce Ends Surcharges.
March 17, 2005... Cherry Hill, N.J.-based Commerce Bank has lifted ATM surcharges on the use of its ATMs by noncustomers and will reimburse favored debit cardholders for use of ATMs not owned by the bank starting in April. Commerce Bank Chairman Vernon W. Hill,...

PIN Debit In A No-Fly Zone Among Airlines.
March 17, 2005... The expense squeeze many airlines face, from high fuel prices to an annual $1.5 billion payout in credit card acceptance fees, creates an incentive for airlines to use alternative payment options. But the cheaper PIN-debit, card-payment option...

New Visa Cards Make Room For More Issuer Space.
March 17, 2005... The ubiquitous Visa International hologram of a dove enjoys top billing on the front of hundreds of millions of Visa-branded debit and credit cards. For several decades, the dove has flown alongside an issuer's own brand and Visa's logo....

Financial Institutions Are Closer To Imaging Checks For ATM Deposits.
March 17, 2005... Check imaging at ATMs has not exactly swept financial institutions off their feet since a new federal law known as Check 21 went into effect in October 2004. The law generally treats digitized images of checks the same as paper checks. So...

Airline Payment Costs.
March 17, 2005... Payment Type Costs Credit/Offline Debit* 1.85% + 10 cents Airline Instant Credit $1.50% - 1.75% Cash/Money Transfer None Source: Airlines, Edgar Dunn, ATM&Debit News....

Few Banks Offer Automated Deposits.
March 17, 2005... A recent study by the London-based Retail Banking Research consultancy shows how far U.S. banks have to go to automate the deposit function on their ATMs. The study included surveys of five top-10 financial institution ATM owners in the...

UMB In ATM ISO Deal.
March 17, 2005... Kansas City-based UMB Financial Corp. will brand 300 new ATMs at Walgreen Co. stores beginning in April. The deal involves UMB branding the ATMs and Scottsdale, AR-based eFunds Corp. managing and driving 70% of the ATMs and Welch ATM Systems...

Allpoint Signs CU Groups.
March 17, 2005... Three credit union organizations will offer the Allpoint surcharge-free ATM network to their members, said Allpoint President Ben Psillas. The groups are: the Pennsylvania Credit Union Association, the Maryland Credit Union League and the...

Hypercom CFO Resigns.
March 24, 2005... Phoenix-based Hypercom Corp. announced that Chief Financial and Administrative Officer John W. Smolak resigned amid questions about Hypercom's accounting practices. Scott M. Tsujita, Hypercom's senior vice president of investor relations, said...

Global Cash Files For IPO.
March 24, 2005... Las Vegas-based Global Cash Access Holdings Inc. is looking to raise up to $471.5 million through an in an initial public offering of stock, according to a regulatory filing on Wednesday. The company applied for a New York Stock Exchange...

BofA Halts Sales On Some Visa Prepaid Products.
March 24, 2005... Prepaid debit cards are supposed to have high-growth potential for financial institutions. But Charlotte, N.C.-based Bank of America, the largest debit card issuer in the U.S., is not bullish on some of its prepaid debit products. Indeed,...

ATM Fraudsters Create New Ways To Extract Cash.
March 24, 2005... There is a growing body of evidence ATMs are increasingly being seen as soft targets for international organized crime groups. These groups are looking for better opportunities now that the United Kingdom and other parts of Europe are adopting...

Fiserv's CAT Banks On Credit Unions To Skip Third-Party ATM Drivers.
March 24, 2005... Small and medium-size financial institutions have a wide variety of technologies and outsourcing services to choose from to help operate their ATM fleets. There are software companies that offer relatively inexpensive transaction-switching...

ATM Fraud Techniques.
March 24, 2005... Skimming Extracting PIN and card data at or near an ATM. Common tools include secret cameras, fake PIN pads and card readers. Phishing A confidence scheme using emails to trick cardholders into handing over PINs and card numbers....

Consumers Prefer Debit For Rewards.
March 24, 2005... A consumer survey by CoolSavings Inc., a Chicago-based marketing and loyalty rewards firm, found that consumers prefer receiving cash or prepaid debit cards over merchandise as a reward for purchases. Of 21,000 CoolSavings members, 67%...

Fiserv's LynxGate.
March 24, 2005... Target Clients: Credit Unions Function: A platform for CUs to drive their own ATMs. Economic Model: Licensing fees Source: Fiserv. Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com...

Canada ISO Sale On Hold.
March 24, 2005... Montreal-based Garda World Security Corp.'s planned $18 million purchase of the Ontario-based Universal ATM Services Inc. ATM ISO is on hold. Garda said there are concerns about Universal's finances. Universal operates about 2,800 ATMs in...

Metavante Signs Astoria.
March 24, 2005... Metavante Corp. has renewed its debit processing agreement with Astoria Federal Savings, New York City. Astoria issues 530,000 debit cards. Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com...

Correction.(Correction Notice)
March 24, 2005... Commerce Bank, Cherry Hill, N.J., is not lifting surcharges for noncustomer ATM users as stated in a March 17, ATM&Debit News brief. Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.cardforum.com...

Reloading Network Forms.
March 31, 2005... Los Angeles-based Next Estate Communications, Inc. is creating a shared network for consumers to reload value on prepaid debit cards. Steve Streit, Next Estate CEO, says the Green Dot network will be operated separately from Next Estate's own...

Congemi In New Post.
March 31, 2005... Ronald Congemi, who has headed the Star network for many years, is taking a new job with Star's owner, First Data Corp. Congemi's new title will be senior vice president of strategic industry relations. Congemi joined First Data as CEO of Debit...

GTCR May Have Genpass On The Auction Block.
March 31, 2005... There is widespread speculation that Fort Washington, Pa.-based Genpass Inc. is being shopped around and will soon be sold. Genpass, a top-10 ATM transaction processor that also owns the MoneyMaker EFT network and the MoneyPass...

Triple DES Date To Pass Without Enforcement.
March 31, 2005... MasterCard International for several years has not budged from delaying the earliest deadline for ATMs in the U.S. to comply with stricter transaction encryption standards. MasterCard set April 1 as a deadline for all ATMs connected to its...

Global Cash Casino EFT Processor Hopes IPO Will Head Off Competitors.
March 31, 2005... A year after the nation's leading provider of ATMs and debit transaction processing for casinos acquired control of its own destiny, Global Cash Access Holdings Inc. now seeks a major cash infusion to pay off debt and head off competition. ...

Triple DES Deadline.
March 31, 2005... Deadline April 1, 2005 Organization MasterCard Network Cirrus ATM Network Source: MasterCard International Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com...

Genpass At A Glance.
March 31, 2005... Business ATM Driving/Network Switch Majority Owner GTCR Golder Rauner Focus Off-Premise ATMs Source: Genpass, ATM&Debit News Copyright 2005 Thomson Media Inc. All Rights Reserved....

NCR's CEO Resigns For The Same Job At Computer Firm.
March 31, 2005... NCR Corp., the world's largest ATM manufacturer based in Dayton, Ohio, is losing its CEO to one of the world's largest personal computer makers. Mark Hurd has resigned as CEO of NCR, according to an NCR announcement. Hurd, 48, will become CEO...

Global Cash At A Glance.
March 31, 2005... Headquarters Las Vegas Business Casino ATMs/Processing 2004 Revenues $403 Million 2004 Income $256 Million Recent Events Seeks IPO Source: Global Cash Access Copyright 2005 Thomson Media Inc....

Cardtronics Acquires BAS ATMs.
March 31, 2005... The Houston-based Cardtronics ATM independent sales organization, the largest ISO in the U.S. with 25,000 ATMs under management contracts, is acquiring 450 ATMs from BAS Communications Inc., a New Hyde Park, N.Y.-based ISO. The ATMs are in...

Way Systems Gets Certification.
March 31, 2005... Woburn, Mass.-based Way Systems Inc. recently announced it had received certification under Visa International's PIN Entry Device program for its MTT1500/Debit terminal. The MTT1500D is the only mobile phone-based point-of-sale terminal that...