ATM & Debit News articles from May 2008

ATM & Debit News archives from May 2008

In Brief.
May 1, 2008... PSCU FINANCIAL RETURNS MORE MONEY TO ITS 500 CREDIT-UNION MEMBERS PSCU Financial Services, a principle member of Visa Inc., will return to some of its credit-union members the entire $20.5 million PSCU received from Visa's initial public...

Two Surveys Provide Conflicting Consumer Views, Concerning Banks Allowing Debit Card Overdrafts.
May 1, 2008... Do debit cardholders appreciate overdraft fees? The answer depends on who asks the question and how it is asked. The majority of debit cardholders would prefer that their financial institutions deny transactions that their accounts do not...

Wincor Nixdorf Says It Will Pass NCR In Europe, But NCR Says It Remains The Continent's Leader.
May 1, 2008... Wincor Nixdorf International GmbH expects to overtake NCR Corp. as the largest seller of ATMs to European banks, Andreas Bruck, a Wincor Nixdorf spokesperson told ATM&Debit News this week. It has been our target for five years, and each...

Association Rolls Out International Public Sign For The ATM.
May 1, 2008... Off-premise ATM owners have installed a variety of signs to help consumers find their machines. The owners sometimes write ATM in big red block letters with a red arrow pointing to the machine. Sign makers also have built neon signs that...

TRM Paid Access To Money's Owner $4.25 Million Cash.
May 1, 2008... TRM Corp., which Last Month purchased Access To Money, the N.J.-based ISO, paid Douglas Falcone, the acquired companys sole shareholder, president and CEO, $4.25 million in cash, according to a U.S. Securities and Exchange Commission filing....

Discover Debit Card Signs Agreement With Seven New Issuers.
May 1, 2008... Seven more financial institutions have signed agreements to issue Discover-branded debit cards. We are and have been since the 2006 launch consciously trying to build awareness of the product, which is still relatively new in its offering,...

Six-Month Results Show Wincor On Track To Reach Yearly Goal.
May 1, 2008... Wincor Nixdorf International GmbH, a Paderborn, Germany-based ATM manufacturer, last week reported a net profit of $95 million for the first six months of fiscal 2008, up 23.9% from $76.7 million during the same period last year. Wincor...

Diebold's New Way Of Logging Revenue Boosts The Firm's First-Quarter Numbers.(Financial report)
May 1, 2008... Diebold Inc. Is reporting higher first-quarter revenue, using a new revenue-recognition method. The North Canton, Ohio-based ATM maker said first-quarter revenue was $700.2 million, up 8.1% compared with a revised figure of $647.7 million...

NYCE Claims To Have Scale.
May 1, 2008... With more than 80 million cards on its debit platform, NYCE Payments Network LLC has the scale to compete with MasterCard Worldwide and Visa Inc., Kirk Larson, Metavante Technologies Inc.s treasurer and vice president of investor relations,...

Personnel Items.
May 1, 2008... PULSE MANAGEMENT TEAM Pulse, the electronic funds-transfer network subsidiary of Discover Financial Services Inc., has announced it will combine its product management, retail services and strategic-business development teams into one...

Coming Events.(Calendar)
May 1, 2008... IT SECURITY SUMMIT The Gartner Inc. IT Security Summit is scheduled for June 2-4 in Washington, D.C. The event includes sessions, multiple tracks and access to more than 30 on-site Gartner analysts. Last years event attracted more than...

News Briefs.
May 8, 2008... CARDTRONICS HANDLING ATM PROCESSING FOR ITS UNITED KINGDOM SUBSIDIARY Euronet Worldwide Inc. has lost a major ATM-processing and switch contract in the United Kingdom, Mike Brown, Euronet chairman and CEO, told analysts during an earnings...

Cap One Ending Decoupled Test; Analysts Blame Financial Woes.
May 8, 2008... Capital One Financial Corp. is ending cobranded, decoupled debit card tests at two retailing chains and closing the cardholder accounts associated with them, the company says. The move may fuel speculation about the demise of decoupled...

Diebold Has Earned Higher Offer For Shares, According To Analyst Tracking Buyout Bid.
May 8, 2008... In March, when United Technologies Corp. made an unsolicited bid to buy Diebold Inc. for $40 per share, Diebolds board quickly rejected the offer, saying it undervalued the company. United Technologies probably would end up buying Diebold,...

ATM Exec Returning To Entrepreneurial Roots.
May 8, 2008... Brad Waugh, who as president and CEO of Wincor Nixdorf USA opened banks doors for the company when it was having a difficult time selling ATMs, is leaving the firm after two years. Waughs departure means the company is looking for someone...

Better ATM Services Is Marketing 'Green' Signs For ATMs.
May 8, 2008... Better ATM Services Inc. is offering extremely thin, energy-efficient, flashing electronic signs designed to attract consumers to ATMs. The Mesa, Ariz.-based company, which also markets hardware designed to dispense prepaid gift cards...

Affiliated Wins California EBT Contract, Replacing JPMorgan.
May 8, 2008... Affiliated Computer Services Inc. has signed a seven-year, $69 million contract with Californias Health and Human Services Agency to provide electronic benefits transfer services, including prepaid debit card transaction processing. ...

NCR Reports 41% Growth In Net Income As New SelfServ Line Takes Off.(Financial report)
May 8, 2008... NCR Corp., which reported a 19% increase in first-quarter revenue yesterday, said its new SelfServ line of ATMs could account for up to 30% of sales this year. The ATM manufacturer also had a terrific quarter for ATM sales to banks in the...

Vendor Briefs.
May 8, 2008... DIEBOLD REPORTEDLY NEARING GOAL OF CUTTING $100 MILLION IN COSTS Diebold Inc. reported yesterday that it is on schedule to reach its goal of cutting $100 million in expenses by the end of the year. The North Canton, Ohio-based ATM...

Personnel Items.
May 8, 2008... CAPITAL ONE Mclean, Va.-based Capital One Financial Corp. has appointed Bradford H. Warner to the companys board. Warner will join the boards Audit and Risk Committee and the Finance and Trust Oversight Committee. He is the former...

Coming Events.(Conference news)(Calendar)
May 8, 2008... NAUTILUS HYOSUNG ATM manufacturer Nautilus Hyosung plans to hold its 2008 Users Conference June 4-6 at the Gaylord Texan Resort in Grapevine, Texas. ATM, DEBIT & PREPAID FORUM SourceMedias 16th annual ATM, Debit & Prepaid Forum is...

News Briefs.
May 15, 2008... IN-HOUSE ATM ARMORED CAR SERVICE WILL HELP CARDTRONICS UK COMPANY Cardtronics Inc., the worlds largest ATM independent sales organization, is scheduled to launch later this year its own in-house armored-car service company to supply cash to...

MasterCard's Maestro Mandate Leaves Card Executives Fuming.
May 15, 2008... Industry observers believe MasterCard Worldwide is stifling network competition by requiring its signature-debit card issuers in the United States to participate in the Maestro PIN-debit network. MasterCards goal is to boost Maestro...

Co-op, Cardtronics Expand Existing Agreement Allowing Free Check Deposits At 2,200 Vcoms.
May 15, 2008... Co-op Financial Services members cardholders now can make surcharge- and envelope-free check deposits at 2,200 Vcoms, or multifunctional ATMs, owned by Cardtronics Inc., the worlds largest ATM independent sales organization based on terminals...

Text Messages Help Find Co-op.
May 15, 2008... When Co-op Financial Services members are traveling and want to withdraw cash from one of the machines in Co-ops nationwide network of 25,000 surcharge-free ATMs, all they have to do to find one is reach for their cellular phones. Co-op...

Issuers Must End Angst About Debit Fraud, Exec Says.
May 15, 2008... Debit card issuers have to deal with at least two aspects of fraudperception and reality. Security remains top of mind for cardholders, Dave Schneider, president of Pulse, the Houston-based electronic funds transfer network owned by...

CEO Says Cardtronics' Loss Is OK-In This Economy.
May 15, 2008... Cardtronics Inc., which last week reported a $4.6 million net loss for the first quarter ended March 31 compared with a $3.5 million net loss for the same three-month period last year, had a good quarter just the same, according to the companys...

Vendor Briefs.
May 15, 2008... MORE SURCHARGE-FREE ATM ACCESS FLOATS WITH NAVY FEDERAL CREDIT UNION Cleveland-based KeyCorp Monday announced an agreement to provide Navy Federal Credit Union members surcharge-free access to KeyCorp.s 1,500 ATMs in 12 states. ...

Personnel Items.
May 15, 2008... CONSUMER BANKERS ASSOCIATION The Arlington, Va.-based Consumer Bankers Association has appointed Tracey Mills director of communications and media relations. Mills will oversee association communications, including press and media relations...

Correction.(Correction notice)
May 15, 2008... An editing error in last weeks issue of ATM&Debit News caused an inaccuracy regarding Capital One Financial Corp. The company actually raised its dividend from 2.7 cents to 37.5 cents. ATM&Debit News regrets the error. (c) 2008 ATM&Debit...

Coming Events.(Conference news)(Calendar)
May 15, 2008... UNDERBANKED FINANCIAL FORUM WILL HIGHLIGHT RISK MANAGEMENT The third annual Underbanked Financial Services Forum is scheduled for June 8-10 at the Doral Resort and Spa in Miami. The event will include three learning tracksmarketing and...

Industry May Have To Change ATMs To Take New Currency For The Blind.
May 22, 2008... The U.S. Bureau of Engraving and Printing must print bank notes so the blind and visually impaired easily can determine the notes denominations, a three--judge federal panel of the Washington D.C. Court of Appeals ruled Tuesday in a 2-1...

Competing Agendas Are Key To Pushing PIN Or Signature.
May 22, 2008... Merchants and consumers prefer PIN-debit card transactions, but issuers and the card brands favor signature-debit. Neither is perfect, but issuers will offer both until new authentication technology upsets the status quo, says Scott...

Diebold Signs Major Deals In Brazil And Nigeria.
May 22, 2008... Diebold Inc. has landed major deals with two overseas banks in the last week, including one in Brazil that industry observers call a whopper. The North Canton, Ohio, ATM manufacturer announced last week that Caixa Economica Federal,...

ATM Sales In 1Q Defy U.S. Banks' Credit Crunch To Help Credit Union Members Locate Network ATMs.
May 22, 2008... Some analysts expected ATM sales of less than zero this year in the United States because major banks were reporting huge financial losses as a result of the subprime mortgage-lending crisis. But as it turns out, the credit crisis has helped...

Anything But Pennyante, BofA's Keep The Change Adds Up.
May 22, 2008... Participants in Bank of America Corp.'s Keep the Change have saved more than $1 billion in a little over two years, the bank says. With Keep the Change, which BofA launched in 2005 to encourage customers to save, all of the participants'...

Canadian Bank Doubles U.S. ATM Network, With The Purchase Of New Jersey Bank.
May 22, 2008... Canadas TD Bank Financial Group doubled the size of its U.S.-based ATM network with the purchase of Commerce Bancorp in March. TD Bank Financial bought Cherry Hill, N.J.-based Commerce Bancorp for $8.5 billion March 31, renaming it TD...

BofA Launches Prepaid Debit Card For Teachers.
May 22, 2008... Teachers can make classroom-supply purchases and reduce out-of-pocket expenses with district-funded prepaid debit cards issued by Bank of America Corp. The teachers enjoy the flexibility of being able to purchase when they need to, says...

Vendor Briefs.
May 22, 2008... INDIAS TATA GROUP MAKING PLANS TO OPERATE AND MANAGE ATMS Tata Group, which includes nearly 100 companies in various sectors, including communications, engineering and energy, reportedly plans to operate and manage ATMs in India, according...

Personnel Items.
May 22, 2008... PSCU FINANCIAL SERVICES St. Petersburg, Fla.-based PSCU Financial Services has elected Michael Valentine vice chairman of the board. He is president of Vernon Hills, Ill.-based Baxter Credit Union. Jane Watkins, president of Richmond,...

Coming Events.(Calendar)
May 22, 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...