ATM & Debit News articles from May 2005

ATM & Debit News archives from May 2005

Fair Isaac Shows New Falcon.
May 5, 2005... Minneapolis-based Fair Isaac Corp. is releasing new debit card fraud-detection software that can examine data gathered from both PIN-debit and signature-debit payment channels. Called Falcon One, the software suite is designed for use with the...

TSA Earnings Climb.
May 5, 2005... Transaction Systems Architects Inc., the Omaha, Neb.-based parent of the ACI Worldwide electronic funds transfer transaction software maker, reports a 1% revenue decline in the first quarter, to $75.6 million from $76.5 million in the first...

New Study: Retailer Gift Cards Strongest In Prepaid.
May 5, 2005... Prepaid, network-branded debit cards are being produced for just about every payment type. There are prepaid cards that cater to people without bank accounts, cards designed to transfer money, and cards that replace paper paychecks and...

Surcharge Waivers Gaining Traction Among Issuers.
May 5, 2005... Internet-based financial institutions, in their heyday several years ago, made ATM surcharge reimbursements to debit cardholders standard. They were trying to lure new customers and retain the loyalty of existing ones without the expense of...

VeriFone's Public Stock Offering Gives POS Manufacturer A Fresh Start.
May 5, 2005... The second time may be a charm for San Jose, Calif.-based VeriFone Holdings Inc. maker of point-of-sale terminals. VeriFone CEO Doug Bergeron rang in VeriFone's entry into the New York Stock Exchange last week. It is the second time VeriFone...

Some ATM Manufacturers Offer Sensors To Detect Skimming Devices.
May 5, 2005... ATM fraud through physical tampering is on the rise in Europe, Asia and Latin America, according to recent industry studies, and that threat is prompting U.S. ATM manufacturers to employ newer anti-crime technologies on their machines. ...

NCR Beats Expectations.
May 5, 2005... Dayton, Ohio-based ATM manufacturer NCR Corp. exceeded analysts' expectations for the first quarter of 2005 in terms of income. NCR reported a net profit of $30 million compared with a loss of $5 million for the same three-month period last...

Fiserv To Use FSV Products.
May 5, 2005... Brookfield, Wisc.-based Fiserv Inc. is partnering with FSV Payment Systems Inc. to incorporate FSV's Paycheck Plus and Flexgift prepaid debit card services into Fiserv's prepaid card product line. Copyright 2005 Thomson Media, Inc. All...

Metavante Purchases MBI.
May 12, 2005... Milwaukee-based Metavante Corp., the processor subsidiary of Marshall & Ilsley Corp., is acquiring Med-i-Bank Inc., a processor of employee benefits debit card transactions. Metavante will purchase MBI for $145 million and will use Marshall &...

MasterCard Revenues Up 10%.
May 12, 2005... MasterCard Inc. reported first quarter revenue of $658 million, a 10% increase over the same period last year, adjusted for the impact of currency fluctuation. Net income for the quarter rose 26% to $93 million from $74 million the year before....

Sparks Fly Over Interchange At Card Meetings.
May 12, 2005... The $3 billion settlement of the merchant class-action lawsuit against Visa U.S.A and MasterCard International more than two years ago appears not to have settled much. The settlement, which also temporarily rolled back interchange rates...

U.S. Bank Makes Move For Genpass Processing Volume.
May 12, 2005... Transaction processors are rarely all things to all clients. Some processors focus on merchant acquiring, while others focus on processing for financial institution issuers. Some focus mainly on ATM transaction processing and settlement while...

Deadline Nears For ATM Deployers To Comment On ADA Rules Proposals.
May 12, 2005... Banks and other ATM owners are expected to have a mouthful to say about federal regulations regarding access to older ATMs by the disabled as part of the U.S. Department of Justice's May 31 deadline for comment on the issue. The current...

Diebold Denies Holding Up Remote Key Plans.
May 12, 2005... A push by the ATM industry to develop a standard to download encryption keys for PINs remotely instead of their being installed in the field has placed North Canton, Ohio based Diebold Inc. on the defensive. Diebold's main competitor,...

EFunds' Earnings Jump 40%.
May 12, 2005... Scottsdale, Ariz.-based eFunds Corp. EFT processor reports net income of $13.2 million for the first quarter of 2005, up 40% from $9.4 million for same three-month period last year. First-quarter revenues were $114.2 million, up 8% compared...

Hypercom Loses $9.6 Million.
May 12, 2005... The Hypercom Corp. point-of-sale terminal manufacturer, reports a wider net loss of $9.6 million in the first quarter of 2005, compared with a $3 million loss in the prior year's quarter. The company attributes the loss in part to charges of...

Closed Gift Cards Dominate.
May 19, 2005... Purchases of prepaid gift cards grew nearly 12% in 2004 compared to 2003, according to a report by the TowerGroup, a Needham, Mass.-based research subsidiary of MasterCard International. Tower estimates that consumers and corporations purchased...

Pet Shop Challenges Visa Ban.
May 19, 2005... A retailer has filed an antitrust, class-action lawsuit against Visa USA, challenging a "no-surcharge rule" that bans Visa card-accepting merchants from charging cardholders for paying with a Visa-branded debit or credit card. Atlanta-based...

NCR Gets Ready To Replace Its Popular CEO.
May 19, 2005... The decision by Dayton, Ohio-based NCR Corp.'s former CEO, Mark Hurd, to leave the world's largest ATM manufacturer came as somewhat of a shock to the firm's executives and, apparently, to investors in the world's largest ATM manufacturer....

Some Prepaid Firms Take Cues From Merchants.
May 19, 2005... Startup companies selling prepaid, network-branded debit cards seem to be learning a thing or two from merchants about marketing prepaid debit cards. Merchants are using the same techniques for selling proprietary prepaid gift cards that...

Metavante Hopes To Expand Its Bank Product Line With MBI Purchase.
May 19, 2005... Corporate acquisitions are often made to boost the market share of the purchaser. Last week, for example, Minneapolis-based U.S. Bancorp. purchased the Genpass Inc. ATM transaction processor for financial institutions and EFT network...

Cashworks Pilots Payment Kiosks.
May 19, 2005... Dallas-based Cashworks Inc., backed by its parent, GE Consumer Finance, is ready to launch new payment kiosks, despite past failures in deploying check-cashing kiosks. Cashworks, started by several former executives of the now defunct...

Cardtronics Buys ISO In UK.
May 19, 2005... Cardtronics Inc., the largest U.S. ATM independent sales organization, announced its first expansion into the United Kingdom with the acquisition of the Hatfield-based Bank Machine PLC ISO and its 1,000 retail ATMs. The purchase, details of...

TRM Revenues Up 127%.
May 19, 2005... TRM Corp. posted a 127% increase in first-quarter 2005 sales revenue, to $58.8 million from $25.9 million in the first quarter of 2004. TRM's ATM business had revenue of $48.1 million for the quarter compared to $12 million in 2004. The sales...

To Our Readers.
May 26, 2005... Because of the long Memorial Day holiday weekend, ATM&Debit News will not be published on June 2. You will receive your next issue on Thursday, June 9. Please have a safe and wonderful holiday! (c) 2005 ATM&Debit News and SourceMedia, Inc....

IRS Extends FSA Spending.
May 26, 2005... The U.S. Treasury Department and the Internal Revenue Service will allow an additional 75 days to spend down funds placed on prepaid debit cards by employees who participate in health-related Flexible Spending Accounts. FSAs allow employees to...

Study: Weekly ATM Use In UK.
May 26, 2005... About 39% of Europeans go to an ATM each week, making the machines the most-frequently used banking channel, according to a recent survey by U.S.-based Forrester Research. Consumers primarily use the machines for cash withdrawals and balance...

PIN-Debit Is Second Only To Cash In Wal-Mart Stores.
May 26, 2005... It seems Bentonville, Ark.-based Wal-Mart Stores Inc. is benefiting from its aggressive policy to convert many of its customer's payments to PIN-debit transactions. But not enough, according to the retail giant. A Wal-Mart payment executive...

New ISO Survey: Most Get Bigger But Volumes Don't.
May 26, 2005... Several high-profile ATM acquisitions among independent sales organizations have occurred in the last year, leading to an unprecedented consolidation of the industry. But even the largest ISOs are not protected from an industrywide slump in...

American Express Creates Its Own Bank Ties For Its Prepaid Cards.
May 26, 2005... As its own credit-card issuer, American Express Co.'s debit card ties to financial institutions are nonexistent. MasterCard International and Visa USA have the traditional debit card space locked up in terms of network-branded debit cards...

UK ISO Purchase Carries High Cost For Cardtronics.
May 26, 2005... A saturated nonbank, off-premise ATM business in the U.S. has large independent sales organizations like Houston-based Cardtronics Inc. paying a steep price for growth opportunities in Europe. Cardtronics' recent purchase of Hartfield,...

Hypercom Joins Visa Promotion.
May 26, 2005... Phoenix-based Hypercom Corp.'s new T2100 point-of-sale terminal will be part of Visa International's Smart Breakthrough Acceptance Device Program. The program promotes terminals that accept chip-based cards using the Europay-MasterCard-Visa...

Carreker Garners ISO Contract.
May 26, 2005... Ontario, Canada-based Threshold Financial Technologies Inc., an ATM ISO, is licensing Carreker Corp.'s eiManager software to manage its 1,600 branded 'Laser Cash' machines. Dallas-based Carreker's eiManager monitors ATM functions. (c) 2005...