ATM & Debit News articles from September 2003

ATM & Debit News archives from September 2003

Visa, MasterCard Lose Appeal.
September 18, 2003... A three-judge panel of the 2nd U.S. Circuit Court of Appeals Sept. 17 upheld a lower-court ruling that Visa USA, MasterCard International and Visa International violated U.S. antitrust law by banning member banks from issuing American Express...

Revenue, Payments May Be Factors For Issuers Leaving Star.
September 18, 2003... Several major debit card issuers over the past few weeks have indicated plans to drop out of the Star electronic funds transfer network. The most recent include Charlotte, N.C.-based Wachovia Bank Corp. and, to a lesser degree, Boston-based...

Competing Marks Rules Might Affect New ATM Network.
September 18, 2003... Allpoint, a surcharge-free ATM network that ATM National LLC launched in April, quickly has grown to cover more than 25,000 ATMs nationally. And now more card issuers, including Citicorp Electronic Financial Services Inc., are joining the...

Top Movie-Screen Owner Views ATMs As A Viable Means To Dispense Tickets.
September 18, 2003... There was a time when the ATM and movie industries seemed destined to be intertwined. Several leading ATM deployers signed deals to install hundreds of ATMs in stores operated by major video movie-rental chains. Financial institutions and...

U.S. Bank Latest To Support Funds Transfers From U.S.
September 18, 2003... U.S. Bancorp, which in April launched a pilot in Chicago, Los Angeles and San Diego to test funds transfers between the U.S. and Mexico, earlier this month expanded the program to all of its branches in 24 states. Both U.S. Bank customers and...

MasterCard, Visa Make Identifying Debit Cards Easier.
September 18, 2003... Complying with its settlement in the merchant class-action lawsuit led by Wal-Mart Stores Inc., MasterCard International Sept. 10 introduced a new hologram design that identifies a debit MasterCard. The word "Debit" is written over the...

Star Drop-Outs To Date.
September 18, 2003... Wachovia Bank U.S. Bancorp FleetBoston AmSouth Bancorporation SouthTrust Bank Commerce Bank (New Jersey) Source: ATM& Debit News. Copyright 2003 Thomson Media Inc. All Rights Reserved....

NYCE Forms Canadian Switch.
September 18, 2003... NYCE Corp., owner of the NYCE electronic funds transfer network, has formed a Canadian company that will switch ATM and point-of-sale debit transactions in Canada. Everlink Payment Services Inc. will work with Celero Solutions, a Canadian...

Fees Addressed At Hearing.
September 25, 2003... Testimony during a Sept. 25 fairness hearing before U.S. District Judge John Gleeson in Brooklyn, N.Y., concerning the $3.05 billion Visa USA and MasterCard International agreed to pay to settle the retailer class-action lawsuit centered mostly...

MasterCard Claims Visa Fee Stymies Brand Competition.
September 25, 2003... A bylaw enacted by Visa USA in the aftermath of Visa's $2.025 billion settlement in the so-called Wal-Mart merchant antitrust lawsuit has led to a legal dispute between Visa and rival MasterCard International. MasterCard Sept. 18 filed a motion...

DOJ May Seek To Block Concord/ First Data Deal.
September 25, 2003... The end game for First Data Corp.'s proposed acquisition of Memphis, Tenn.-based Concord EFS Inc., a major merchant processor and owner of Star, the nation's largest PIN-based electronic funds transfer network, appears to be near. But there...

Is MasterCard Seeking Foreign Aid To Help Pay Wal-Mart Suit Settlement?
September 25, 2003... MasterCard International is seeking help from its non-U.S. members to fund its $1.025 billion settlement with American retailers in the class-action lawsuit led by Wal-Mart Stores Inc. over acceptance of signature-based debit cards, Norfolk,...

New 'Banker's Bank' Product Can Put Small Banks In The ATM Cash Business.
September 25, 2003... Small banks, much like their larger counterparts, often have excess cash on hand. But larger institutions have the means to do more with their cash, such as offering it to ATM operators through regional cash-supply services. Independent...

NYCE Beefs Up Presence In Canadian Market.
September 25, 2003... The competition among U.S. electronic funds transfer networks to solicit processing business in Canada is heating up. Just less than a year after Co-op Network signed up its first credit union north of the border, NYCE Corp., owner of the NYCE...

POS Network Market Share.
September 25, 2003... Network Share Star 56.1% Interlink 15.5% NYCE 10.0% Pulse 9.6% Source: ATM&Debit News EFT Data Book, 2004 Edition. Data based on March 2004 PIN-based debit transaction activity. Copyright...

CU-24 Offering PPS Services.
September 25, 2003... The Tallahassee, Fla.-based Credit Union 24 electronic funds transfer network is partnering with Primary Payment Systems, which is owned by Memphis, Tenn.-based Concord EFS Inc. Now, the network's member credit unions may use PPS's Identity...