ATM & Debit News articles from May 2004

ATM & Debit News archives from May 2004

TravelMoney Adds POS Function.
May 6, 2004... Visa USA, which in 1996 launched TravelMoney, a prepaid card designed to enable travelers to get cash in local currencies at Visa Plus ATMs, is adding a signature-based purchase function to the plastic. Copyright 2004 Thomson Media Inc. All...

Debit MasterCard Volume Up.
May 6, 2004... MasterCard International May 3 reported that the 54.4 million debit MasterCard holders in the U.S. initiated 502.3 million signature-based purchase transactions totaling $21.2 billion during the first quarter ended March 31. That compares with...

Nova Is In A Buying Mode.
May 6, 2004... Nova Information Systems, an Atlanta-based payment processor, is on a buying spree of late. Alliance & Leicester Commercial Bank last week sold its merchant-acquiring business to Nova, a subsidiary of Minneapolis-based U.S. Bancorp, for (UK...

Unlike MSAs, HSAs May Propel Medical Debit Card Use.
May 6, 2004... Seven years ago, the U.S. government launched a national pilot in which a limited number of consumers could deposit funds into tax-free medical savings accounts. At the time, observers believed, financial institutions would benefit because they...

Cashworks Hopes To Succeed Where Innoventry Failed.
May 6, 2004... Using ATMs to build an automated check-cashing business has been a fitful undertaking, despite the billions unbanked consumers spend each year to cash checks. Efforts to automate the ATM check-cashing functions have been hampered by technology...

Top ATM Maker Is Finding The Market For Voting Machines A Tough Sell.
May 6, 2004... Diebold Inc. may be a formidable marketer of ATMs to financial institutions. But the North Canton, Ohio-based company is finding its foray into promoting touch-screen voting machines much more troublesome. Numerous large states have given...

Visa Adds POS Function To Its TravelMoney Card.
May 6, 2004... Visa USA's prepaid TravelMoney card, launched in 1996 for global ATM use only, is getting a facelift. Soon, vacationers will be able to use TravelMoney cards to initiate signature-based purchases worldwide. Nizam Antoo, Visa product...

Cashworks At A Glance.
May 6, 2004... Headquarters: Dallas Owner: GE Consumer Finance Business: Automated payroll-check cashing Source: Cashworks. Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.cardforum.com

Diebold's Voting Machine Facts.
May 6, 2004... Product Names: AccuVote TS, TSx Unit Sales: 60,000 machines Potential Market: 700,000 machines Source: Diebold Inc. Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.cardforum.com

NCR Loss Improves From 2003.
May 6, 2004... NCR Corp. experienced a first-quarter loss of $8 million compared with a $32 million loss in the first quarter of 2003. The firm's revenue for the quarter was up 5%, to $1.29 billion from $1.23 billion. Sales in the Financial Self-Service unit,...

Hypercom Losses Also Down.
May 6, 2004... Hypercom Corp., a Phoenix-based point-of-sale terminal maker, is reporting a net loss for the first quarter ended March 30 of $464,000 from continuing operations and a net loss of $2.2 million before discontinued operations. That compares with...

Offline Debit Volume Up 21.1%.
May 13, 2004... U.S. consumers during the first quarter initiated 2.64 billion signature-based [offline] debit card purchases, up 21.1% from 2.18 billion during the same period last year. Total value of the purchases was $104.6 billion, up 22.5% from $85.4...

Debit Users Say Don't Interfere.
May 13, 2004... The results of a survey commissioned by the Pulse EFT Association found that 23.5% of the 716 respondents who had a debit card and had used it to make a purchase pay most often using PIN debit. That was followed by 17.8% who said they used...

Payroll Cards Gain Support From Small Banks, Processors.
May 13, 2004... Payroll debit cards are not within the marketing domain of just a handful of large employers and big banks. More third-party transaction processors and ATM drivers for smaller financial institutions are expecting big growth in payroll cards...

Issuers Generally Standing Pat With PIN-Debit Fees.
May 13, 2004... Twenty-six financial institutions surveyed last week by ATM&Debit News generally left unchanged since last May the fees they charge customers for PIN-based debit card use. Following a trend identified in a similar survey conducted in May 2003,...

Payroll Card Providers Now Scrambling To Provide Surcharge-Free ATM Access.
May 13, 2004... Interest in offering surcharge-free access to ATMs nationwide is on a parallel track with the growing interest in payroll cards. In fact, major payroll card providers and transaction processors, either through the creation of their own products...

How Debit Card Users Pay.
May 13, 2004... Method 2003 2001 Less Than $20 Cash 64% 75% Debit Card 29% 18% Credit Card 4% 4% Check 3% 3% $20-$50 Debit 55% 42% ...

Debit Card Usage Gains Ground On Cash, Check Use.
May 13, 2004... Since 2001, debit card users have increased card use for purchases under $100, including for buys less than $20, where cash use still rules, the results of MasterCard International's Attitude and Usage Study suggest. "It's all part of the...

How Customer Fees Vary Among PIN-Based Debit Card Issuers, 2002-2004.
May 13, 2004... (part 1 of 3) Proprietary ATM Financial Institution 2002 2003 2004 BB&T 0 0 0 Bank One* ...

FSV's Fee-Free Payroll Cards.
May 13, 2004... Allpoint 25,000 ATMs U.S. Postal Service 38,000 Sites Coinstar 10,000 Machines* Source: Fiserv Inc. Fees free only to payroll debit cardholders. *In development. Copyright 2004 Thomson Media...

EFunds' Net Income Doubles.
May 13, 2004... EFunds Corp. reported first quarter net income to $9.4 million, up 104% from $4.6 million in the first quarter of 2003. First-quarter revenue increased 7.9%, to $140.9 million from $130.5 million. The Scottsdale, Ariz.-based processor...

Diebold Approves Cash Module.
May 13, 2004... Diebold Inc., the North Canton, Ohio-based ATM manufacturer, has approved S2 Systems Inc.'s OpenN/2 software platform to support cash deposits made in bulk-note cash acceptors on Diebold's Opteva ATMs. S2 Systems' support for Diebold's...

E*Trade Looks To Sell Its ATMs.
May 20, 2004... New York-based E*Trade Financial Corp. is taking bids for its 15,000-strong ATM network. A source close to the situation says E*Trade is in "discussions" with other firms to sell its ATM fleet. E*Trade owns 3,000 of the machines and has...

MasterCard Expands Rewards.
May 20, 2004... MasterCard International is expanding its loyalty and rewards programs to include its Debit MasterCard BusinessCard, a signature-based debit card for small-business owners and their employees. The association's goal is to increase the number of...

Retailers May Have Prepaid Advantage Over Banks' Cards.
May 20, 2004... Providers of universally accepted prepaid cards, such as those that carry the Visa or MasterCard brand marks, may find difficulty building momentum marketing the cards as gifts for special occasions or as parental budgeting tools for children....

Metavante Makes A NYCE Buy Into Network Market.
May 20, 2004... Any of numerous payment companies could have purchased the Montvale, N.J.-based NYCE electronic funds transfer network. However, Metavante Corp., the Milwaukee-based payments processor owned by Marshall & Ilsley Corp., may have the most to...

MasterCard, Visa Plan To Coordinate ATM Triple DES Compliance Testing.
May 20, 2004... MasterCard International is planning to synchronize the process for testing and approving new ATMs for compliance with the Triple Data Encryption Standard for PIN pads with one Visa USA already has established. The move could alleviate some...

Check Users Are Still Good Debit Targets: Survey.
May 20, 2004... Many debit card users still use checks more often to initiate purchases. But their relatively low satisfaction level with that payment option makes them prime targets for incentive programs that encourage greater debit card use, the results of...

NYCE At A Glance.
May 20, 2004... ATMs Driven: 11,000 Debit Card Issuers: 2,100 Purchase Price: $610 million 2003 Revenues: $143 million Source. NYCE, ATM&Debit News. Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com...

Visa's Approved Laboratories.
May 20, 2004... * InfoGuard Laboratories, San Luis Obispo, Calif. * T-Systems, Bonn, Germany * TNO EIB, Delft, Netherlands Source: Visa International. Each location will test new ATM PIN-security systems, including for Triple DES compliance. ...

Benny Card Maker Signs Deal.
May 20, 2004... Evolution Benefits Inc., developer of the MasterCard-branded Benny benefits debit card, has signed a multi-year contract with BenefitPoint Inc., a San Francisco-based provider of services for employee-benefit brokers, the two companies...

Correction.(Correction Notice)
May 20, 2004... The Nationwide Money Services independent sales organization provided incorrect information for an article in the April 29 issue of ATM&Debit News. The company actually has 2,500 ATMs in its portfolio. Copyright 2004 Thomson Media Inc. All...

To Our Readers.
May 27, 2004... Because of the long Memorial Day holiday weekend, ATM&Debit News will not be published on June 3. You will receive your next issue on Thursday, June 10. Please have a safe and wonderful holiday! Copyright 2004 Thomson Media Inc. All Rights...

Rewards Points Often Go Unused.
May 27, 2004... Almost half of consumers have never redeemed their payment card reward points even though 36% of consumers in the programs have been enrolled for five years or more, according to a survey from St. Louis-based Maritz Loyalty Marketing. Still,...

E*Trade's ATM Exit Could Be A Hint Of Future Trends.
May 27, 2004... When E*Trade Financial Corp. acquired the management contracts for 9,600 off-premise ATMs from the Card Capture Services independent sales organization in 2000, the New York-based firm wanted to use the machines to attract depositors through...

Metavante's Bid For NYCE Network Not Without Risk.
May 27, 2004... With its proposed acquisition of the Montvale, N.J.-based NYCE electronic funds transfer network, Metavante Corp. is pursuing a strategy to maintain and grow its current client base of 1,200 financial institutions. It also is seeking to take...

The Fed To Examine The Feasibility Of Mandating POS Fee Disclosures.
May 27, 2004... Few debit card issuers charge their cardholders for initiating purchases with PINs, and when they do customers generally can avoid the fees by maintaining minimum balances or by having certain types of accounts. Several members of a Senate...

Key Facts About NYCE.
May 27, 2004... ATMs Driven: 11,000 Issuing Clients: 1,200 Processing Clients: 600 2003 Revenue: $143 million 2003 Net Income: $35 million Source: First Data Corp., Metavante Corp. Copyright 2004 Thomson Media Inc. All Rights...

Payroll Cards Attracting More Federal Attention.
May 27, 2004... Federal regulators historically have let the open market determine the development of prepaid card programs. Lately, though, they have begun to pay close attention to payroll card programs. The U.S. Office of the Comptroller of the Currency...

Key Facts About E*Trade ATMs.
May 27, 2004... Brand: E*Trade Access Total Fleet: 15,000 ATMs ATMs Owned: 3,000 Source: E*Trade Financial. Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.cardforum.com

Wells To Use NCR's ImageMark.
May 27, 2004... San Francisco-based Wells Fargo & Co. has chosen NCR Corp.'s ImageMark check-imaging software to support its image-capture service. Details of the agreement were not disclosed, but Wells could use ImageMark for a variety of purposes, including...

Cardtronics Renews With Star.
May 27, 2004... The Houston-based Cardtronics Inc. ATM independent sales organization has renewed its agreement to place the Star electronic funds transfer network mark on the 12,000 ATMs it has under contract. Details were not disclosed. But Star President...