ATM & Debit News articles from September 2004

ATM & Debit News archives from September 2004

To Our Readers.
September 2, 2004... Because of the long Labor Day holiday weekend, ATM&Debit News will not be published on Sept. 9. Please have a safe and wonderful holiday! Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com...

POS Increases In Importance.
September 2, 2004... ATM volume as a percent of total PIN-debit transactions is declining among major electronic funds transfer networks, making more compelling the competition for PIN-based point-of-sale transactions among the networks that support both ATM and...

Schools Say Yes To Simon Card.
September 2, 2004... Indiana University and Purdue University have agreed to market the Visa-branded Simon Giftcard to their students in conjunction with Simon Property Group Inc., an Indianapolis-based mall owner. The Simon Indiana University and Simon Purdue...

Market Is Good, But Networks Lower Their POS Volumes.
September 2, 2004... PIN-based purchases continue to grow at a respectable rate. But the number of purchases initiated with PIN-based debit cards is not as high as some of the leading electronic funds transfer networks have led the market to believe, the 2005...

Some Networks See Mixed Results From POS Gains.
September 2, 2004... Electronic funds transfer networks that support their own PIN-based point-of-sale debit brand are seeing virtually all of their growth coming from POS debit rather than ATM switching activity. However, some networks are benefiting more than...

Growth Rates For Installed ATM Base, ATM Transactions Now About The Same.
September 2, 2004... For many years, the installed base of U.S. ATMs grew at a much quicker pace than the growth in ATM transactions. Now, though, the two are growing at nearly the same rate as transaction volume, particularly at off-premise ATMs, is experiencing...

On-Us Bank ATM Volumes.
September 2, 2004... 12/03 12/02 Change Wells Fargo 34.9 33.7 3.6% Washington Mutual 19.3 17.3 11.6% Wachovia 18.4 17.9 2.8% FleetBoston 17.0 16.0 6.3% Citibank ...

Monthly Transactions Per ATM.
September 2, 2004... Transactions Per ATM ATMs Volume 2004 2,400 383,000 919.2* 2003 2,432 371,000 902.3* 2002 2,509 352,000 883.2* 2001 3,494 324,000 1,132.0 ...

Leading U.S. ATM Owners.
September 2, 2004... ATMs ATMs Owner 2004 2003 1. Bank of America 14,000 13,013 2. Cardtronics 7,000(a) 4,500 3. U.S. Bancorp 6,503 6,663 4. Wells Fargo ...

Annual EFT Volume.
September 2, 2004... Total ATM POS Year Volume Volume Volume 2004* 17,304 11,030 6,274 2003* 15,876* 10,828 5,054** 2002* 15,098* 10,598 4,500 2001 17,232 13,584 3,648 2000...

Global Buys Cash & Win.
September 2, 2004... Global Payments Inc., an Atlanta-based transaction processor, says it has acquired from Comerica Bank the 49% share of the Cash & Win service it did not already own. The Cash & Win service provides credit and debit card cash-advance service to...

Paymentech To Use SCAN.
September 2, 2004... Scottsdale, Ariz.-based transaction processor and ATM operator eFunds Corp. says the Dallas-based merchant processor Paymentech Inc. will make eFunds' SCAN check-authorization and transaction risk-assessment service available to its top...

The Leading PIN-Based Point-Of-Sale Debit Networks.
September 2, 2004... In-Network POS PIN Volume Terminals Network 2004 2003 Growth Online 1. Star 243,810 210,462** 15.8% NA 2. Interlink 103,038 69,619** 48.0% 4,177,879 3....

Supremes Reviewing DOJ Case.
September 23, 2004... All nine justices of the U.S. Supreme Court will decide later this month whether to hear Visa USA's and MasterCard International's challenge to a 2nd U.S. Circuit Court of Appeals decision. The appeals court in January upheld a U.S. District...

NetBank Adds ATMs To Allpoint.
September 23, 2004... ATM National is adding 6,000 off-premise ATMs operated by the Atlanta-based NetBank Inc. Internet-based bank to its Bethesda, Md.-based Allpoint surcharge-free ATM network. Ben Psillas, ATM National president, says the deal boosts to 31,000 the...

Drug-Store Chain Plans First Major Debitman Card Push.
September 23, 2004... Debitman Card Inc., the Chico, Calif.-based PIN-debit network that processes transactions using the automated clearinghouse system, soon will have its first major card-issuance push. The Duane Reade drug-store chain on Oct. 4 plans to promote...

EFunds' Decision To Sell Contracts Helps TRM Grow.
September 23, 2004... EFunds Corp. this week announced plans to sell its 17,200 ATM contracts, 15,700 of which are in the U.S., to TRM Corp. for $150 million in cash. When the deal is completed later this year, eFunds will lose about 25% of its revenue base, but it...

New BofA Partnership With First Data Could Boost Star's Transaction Volume.
September 23, 2004... A letter of intent between First Data Corp. and Bank of America announced last week seems to suggest that First Data's Star electronic funds transfer network will regain the switching of some PIN-based point-of-sale transactions initiated by...

MasterCard Gets Good Debit News.
September 23, 2004... In a boost to MasterCard International's debit card business, San Francisco-based Bank of the West earlier this month announced that it would convert its Visa check card portfolio to debit MasterCard. The bank says it has about 450,000 debit...

Some Key Facts To The Deal.
September 23, 2004... * First Data will provide personalization for BofA credit and debit card portfolios. * BofA is extending its contract with First Data for live card-activation services. * First Data subsidiary TASQ will supply point-of-sale equipment...

Visa Gift Cards Make Gains.
September 23, 2004... Mall developer Simon Property Group Inc. announced that its Visa Simon gift card has garnered annual sales of $340 million since its launch in 2003. The cards can be bought at Simon shopping centers and be used at any mall shop that accepts...

Debit Card Use Is In Fashion.
September 30, 2004... During the first two weeks of this year's fall-fashion shopping season, Sept. 1 to 15, U.S. consumers spent $720 million using their Visa check cards, up 26% from the same period a year ago, according to Harris Interactive survey data compiled...

National City Touts Gift Card.
September 30, 2004... Cleveland-based National City Corp. announced Sept. 28 a program that gives its agent banks the ability to sell instant-issue prepaid Visa gift cards to their customers. National City officials say agent banks can leverage National City's...

Prepaid Debit Cards May Help Unbanked Improve Credit Risk.
September 30, 2004... Companies traditionally use credit-bureau information almost exclusively when weighing whether to grant consumers loans, mortgages or other forms of credit. Many individuals, though, often do not have credit histories, yet they pay their rent,...

U.K. Processors Look To U.S. For Debit Growth.
September 30, 2004... Most of the United Kingdom's major banks do their own transaction processing and authorizing, and they drive their own ATM and point-of-sale terminals. Moreover, large banks acquire most of the kingdom's PIN-based POS debit transactions. ...

Uncertainty Over Off-Premise Use Is Causing A Shift In Cost Of ATM ISOs.
September 30, 2004... Several recent off-premise ATM deals have provided the market with an indication of the current relative worth of large ATM portfolios. However, the value of off-premise machines seems to fluctuate, often because of concerns over future use of...

U.K. Firms Target U.S. Debit.
September 30, 2004... Royal Bank of Scotland The Edinburgh-based bank acquired Atlanta-based Lynk Systems Inc. Lynk processes PIN- and signature-based debit and credit card transactions for merchants, and drives about 25,000 off-premise ATMs. Magex Ltd. ...

Fed Proposal Ties Reg E To Payroll Cards.
September 30, 2004... Financial institutions that hold payroll card accounts must comply with Regulation E of the Electronic Funds Transfer Act under Reg E expansions proposed by the Federal Reserve Board. The Fed is accepting comments on the proposed changes...

Top ATM ISO Purchases.
September 30, 2004... Buyer ATMs Price TRM 17,200 $150 million Cardtronics 13,000 $106 million 7-Eleven 5,400 $44 million EFunds ...

Fiserv, Credit Union Strike Deal.
September 30, 2004... Fiserv, Inc., the Brookfield, Wis.-based electronic funds transfer processor and ATM driver, has signed a five-year deal to provide ATM driving services and debit card processing for Sidney (N.Y.) Federal Credit Union. Fiserv also will provide...

Tranax Gains New ATM Seller.
September 30, 2004... Global Pronex Inc., a Diamond Bar, Calif.-based ATM reseller, has begun distributing Tranax Inc. ATMs, Global Pronex announced recently. Fremont, Calif.-based Tranax makes the Mini-Bank ATM series and was the fifth-largest U.S. ATM shipper in...