ATM & Debit News articles from October 2007

ATM & Debit News archives from October 2007

Diebold Drops Accounting Practice After Discussions With The SEC.
October 4, 2007... Diebold Inc., which delayed release of its second-quarter earnings in July pending a government decision on how Diebold should account for revenue, Tuesday announced it is dropping the practice in question. The North Canton, Ohio-based ATM...

Banks Are Competing To Issue Debit Cards For Government.
October 4, 2007... The Financial Management Service bureau of the U.S. Department of the Treasury has received 15 applications from financial institutions interested in providing nationwide debit card services to unbanked check recipients of Social Security and...

Software Company Tests ATMs That Issue Closed-Loop Gift Cards.
October 4, 2007... David Candland, president of Comida Management LLC, owner of Mi Amigos Mexican Grill, a restaurant chain with locations in Phoenix and Mesa, Ariz., always wanted to install ATMs in the company's restaurants to encourage diners to pay with cash...

'New' NCR To Keep $900 Million After Spin-off Of Teradata Business.
October 4, 2007... During a recent meeting with ATM&Debit News, Brian J. Bailey, NCR Corp.'s vice president for marketing and deployment, called his employer the "new" NCR. Bailey was referring to NCR's status once it has spun off its Teradata data...

Valid, Tranax Team To Provide Check Cashing.
October 4, 2007... Valid Systems, a Fort Worth, Texas-based check-verification company, Monday announced it has formed a partnership with ATM manufacturer Tranax Technologies Inc. As part of the companies' agreement, Valid will cash payroll, government and...

S.D., Wisconsin To Add Electronic Payments For Benefit Dispersal.
October 4, 2007... Wisconsin and South Dakota are the latest states to announce they will disperse state benefits electronically. South Dakota's Department of Labor plans to introduce direct deposit and debit card options for payment of unemployment benefits...

Vendor Briefs.
October 4, 2007... Pulse Rolls Out Anti-Fraud Device Pulse EFT Association announced Tuesday the launch of DebitProtect, a fraud-detection and notification system, across Pulse's network of more than 4,400 financial institutions. DebitProtect evaluates risk...

Personnel Items.
October 4, 2007... JURGEN WILDE... ATM manufacturer Wincor Nixdorf AG will reduce the size of its board of directors to three from four, following a decision by board member Jurgen Wilde to step down early next year for health reasons. The 60-year-old Wilde,...

EFTs Take Swipes At PayPass During Nasty Exchange At Forum.
October 11, 2007... MasterCard Worldwide member banks have issued 16 million PayPass cards that are accepted at more than 55,000 merchant locations worldwide, but at last week's ATM, Debit & Prepaid Forum, PayPass was treated like Rodney Dangerfield. It got no...

Blacks Shy Away From Cards, But Respond To Ads For Prepaid.
October 11, 2007... African Americans prefer cash transactions and prepaid cards to debit cards and credit cards, but usage in all three card categories remains low because the industry largely has ignored the market. "The bottom line is too little is being...

Wincor Nixdorf Sees Stronger Results.
October 11, 2007... Wincor Nixdorf USA, the German-owned ATM manufacturer, has not had much success gaining market share in the United States. But with a new business model, two of the company's top executives say with confidence the business will report major...

Grocers' Cash-Back Policies Cut ATMs Out Of Cabbage.
October 11, 2007... Supermarkets and grocery stores have moved down the food chain, so to speak, as locations where PNC Bank, the nation's seventh-largest bank owner of ATMs, wants to place off-premise machines, James S. Walker, senior vice president and general...

Nation's Shaky Economy Spurs Debit Card Growth.
October 11, 2007... Debit card transactions will continue to grow through 2009 despite a weak U.S. economy, TowerGroup, a Needham, Mass.-based research and advisory firm, said in new report Monday. The shaky economy has moved everyday consumer purchases, such...

Correction.(Correction notice)
October 11, 2007... In last week's issue of ATM & Debit News, an article about NCR Corp. may have implied the company was buying back its stock during the quiet period following the spin-off of its Teradata data-warehousing unit. Although NCR has $264 million...

Bill Payment Will Bring Growth To Debit Cards, Exec Tells Forum.
October 11, 2007... Debit cards' next growth opportunity will be getting consumers to use the cards to pay bills, Ann J. Camarillo, MasterCard Worldwide's executive vice president of U.S. Market Development, said Tuesday during SourceMedia's ATM, Debit & Prepaid...

ATM Surcharges, Banking Fees Hit All-Time Highs, Study Says.
October 11, 2007... Banking fees have reached record highs in several areas, including ATM surcharges, according to a Bankrate Inc. report released last week. The average ATM surcharge is $1.78, up from $1.64 last year, says the report, titled "Fall 2007 Checking...

Vendor Briefs.
October 11, 2007... CO-OP FINANCIAL SERVICES OFFERS PREPAID CARD Co-op Financial Services, Rancho Cucamonga, Calif.-based credit union service organization, announced Oct. 2 it will offer reloadable prepaid cards to credit union members beginning in the fourth...

Wincor Nixdorf ATMs Test Cash Recycling.
October 11, 2007... ATM manufacturer Wincor Nixdorf USA is testing cash-recycling ATMs at an unnamed Atlanta bank, Alan Walsh, vice president of banking, told ATM&Debit News at the SourceMedia ATM, Debit & Prepaid Forum in Carlsbad, Calif. "Although...

Co-op Launches Fast-Bank.
October 11, 2007... Co-op Shared Branching, a division of Co-op Financial Services, has developed a self-service kiosk in which members can make withdrawals, pay loans, receive cash advances and make envelope-free deposits. Co-op calls the kiosk Co-op Fast Bank....

Personnel Items.
October 11, 2007... TONY HAYES Tony Hayes, chairman of SourceMedia's ATM, Debit & Prepaid Forum, has left Dove Consulting, his employer for the past 131/2 years to join Oliver Wyman, a New York-based management-consulting firm. Oliver Wyman was formed in May...

Coming Events.(Conference news)(Calendar)
October 11, 2007... BAI Retail Delivery Conference The BAI Retail Delivery Conference & Expo is scheduled for Nov. 13-15 at Mandalay Bay Resort & Casino in Las Vegas. Alan Greenspan, former chairman of the Federal Reserve Board, author of "The Age of...

News Briefs.
October 18, 2007... CREDIT UNIONS COULD LOSE REVENUE BECAUSE OF DECOUPLED DEBIT CARDS Card Services For Credit Unions, a credit and debit card processing association for credit unions, expressed concern Wednesday about decoupled debit's effects on credit...

Cardtronics IPO May Net $115M.
October 18, 2007... Cardtronics Inc. says it expects to receive about $114.8 million in net proceeds from a still-unscheduled initial public offering of its common stock if it sells for $15 a share. The company calculates it could raise as much as $306.7...

Consumers Switch Banks To Avoid Paying ATM Fees.
October 18, 2007... A significant percentage of consumers will switch their accounts to banks with conveniently located ATMs to avoid paying surcharge fees, according to survey scheduled for release later this month by Synergistics Research Corp. Some 67% of...

Studying Regional Payment Habits Helps Issuers Promote Debit Cards.
October 18, 2007... Consumers who pay for purchases with a combination of cash and PIN-debit cards easily can be persuaded to use their debit cards more often, First Data Corp. contends in a report released Oct. 4. The "2006/2007 Consumer Payments Usage &...

Decoupled Debit Card With Rewards Put To The Test By HSBC And CVS.
October 18, 2007... HSBC Finance Corp. and CVS/Pharmacy say their test of a decoupled, closed-loop rewards PIN debit card is going well, with both companies hoping to expand the trial. The six-month test of CVS ExtraCare Plus began Sept. 9 in 141 Indianapolis CVS...

Eatery Chain's Austin Unit Adds Pay-At-Table To Menu.
October 18, 2007... Ruth's Chris Steak House in Austin, Texas, is part of a national chain of fine-dining restaurants. Businesspersons on expense accounts eat there daily and the restaurant, which serves up to 350 diners, fills on weekends with families, Sal...

Diebold Teams With Nautilus To Make Off-Premise ATMs.
October 18, 2007... ATM manufacturers Nautilus Hyosung and Diebold Inc. have collaborated to build and launch CashSpot, an entry-level, cash-only ATM dispenser that allows banks and other financial institutions to place the machines in off-premise retail...

Vendor Briefs.
October 18, 2007... VERIFONE GOES WIRELESS WITH BLUETOOTH TERMINAL San Jose, Calif.-based point-of-sale terminal maker VeriFone Holdings Inc. announced Monday a Bluetooth short-wave connection version of its Vx 670 wireless payment terminal. The terminal also...

Diebold ATM To Dispense Gift Cards Under Better ATM Services License.
October 18, 2007... Better ATM Services Inc., a Mesa, Ariz.-based company that owns and licenses software that enables ATMs to dispense closed-loop, prepaid gift cards, announced Monday it has certified Diebold Inc. to use the technology. The certification...

Personnel Items.
October 18, 2007... Denise Grace Credit Union 24, the country's only credit union-owned ATM and point-of-sale network, has named Denise Grace assistant vice president of processor relations. Grace joined Credit Union 24 after more than 25 years with Publix...

Coming Events.(Calendar)
October 18, 2007... BAI Retail Delivery Conference The BAI Retail Delivery Conference & Expo is scheduled for Nov. 13-15 at Mandalay Bay Resort & Casino in Las Vegas. Alan Greenspan, former chairman of the Federal Reserve Board, author of "The Age Of...

News Briefs.
October 25, 2007... VISA INCREASES PCI COMPLIANCE; MASTERCARD WILL EDUCATE FIRMS Visa Inc. announced Wednesday that 65% of the largest U.S. merchants are compliant with the Payment Card Industry Data Security Standard, known as PCI. In December 2006, 36% were...

Credit Unions, Some Banks See Decoupled Debit As A Threat: Members Warned About Possible Loss Of Interchange.
October 25, 2007... Credit unions and community banks are circling their wagons to fight the threat of decoupled debit, which enables issuers that do not hold demand deposit accounts to deduct funds from customers' account-holding institutions. The financial...

N.Y. Comptroller Wants More ATM Inspections.
October 25, 2007... The New York State Comptroller has called for the state's banking department to prioritize inspections of bank-owned ATMs, especially those in high-crime areas, to comply with the ATM Safety Act. New York lawmakers passed the legislation in...

Two More States Move Their Benefits To Debit Cards From Paper Checks.
October 25, 2007... Pennsylvania's Department of Labor & Industry and North Dakota's Job Service have joined three other states in moving benefits to electronic payments from paper checks. In the past several weeks, North Carolina's Department of Health and...

PSCU Financial Converts CU's Debit Card Portfolio.
October 25, 2007... Centra Credit Union of Columbus, Ind., converted its 60,000 signature- and PIN-debit accounts to PSCU Financial Services' processing platform, both companies announced Tuesday. St. Petersburg, Fla.-based PSCU also is responsible for driving...

TIO Networks Tests Easier Way To Use Bill-Paying Kiosk.
October 25, 2007... TIO Networks Corp., a Burnaby, British Columbia-based company that enables consumers to pay their utility and phone bills in cash through TIO's network of kiosks, this week announced it is piloting myTio at two locations in Arizona and...

Vendor Briefs.
October 25, 2007... WINCOR NIXDORF INTERNATIONAL REPORTS STRONG PRELIMINARY 2007 FIGURES Wincor Nixdorf International GmbH today reported preliminary fiscal 2007 earnings, and the numbers exceeded the company's earlier forecasts. The Paderborn,...

Personnel Items.
October 25, 2007... JAMES H. HALPIN James H. Halpin has joined ArcaTech Systems as retail solutions director, company officials announced Monday. Halpin's role will be to focus on working with customers to provide solutions from ArcaTech's line of...

Coming Events.(Conference news)(Calendar)
October 25, 2007... FINTECH SENIOR EXECUTIVE FORUM Paul Garcia, chairman and CEO of Global Payments Inc., will give the keynote address at the Fintech Mergers and Acquisition Senior Executive Forum Tuesday in London. Garcia will discuss global growth...