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Retail ATM network owner and operator Cardtronics Inc. is testing ATMs as tall as nine feet that offer discounts to consumers when they withdraw cash at stores with Cardtronics machines and then make a purchase using a smart-phone app to access the reward. The ATMs and rewards are part of …
Read More »Banks’ Out-of-Network ATM Fees and Overdraft Fees Again Set Records
By Jim Daly Average out-of-network ATM fees set a record in 2014 for the eighth straight year by rising 5.3% to $4.35 per transaction, well above a 1.5% increase in 2013 but close to their 17-year average, according to Bankrate Inc.’s annual study of checking-account fees. Overdraft fees set a …
Read More »Durbin Routing Rules Should Apply to ATMs, ATMIA Urges in Meeting with Fed
The ATM Industry Association met today with members of the Federal Reserve staff to discuss making ATM debit transactions subject to the routing requirements of the Durbin Amendment to the 2010 Dodd-Frank Act. The association, which represents ATM independent sales organizations and other retail deployers, wants the provision because it …
Read More »Cash Will Be the King of Washington State Pot Payments, at Least for a While
Like their brethren in Colorado, the new marijuana stores in the state of Washington will be operating mostly on a cash basis, but operators hope that the federal government eventually will remove obstacles preventing them from getting payment card merchant accounts and business checking accounts. On Monday, the Washington State …
Read More »Making a Decent Profit Gets Tougher for Retail ATM Deployers
Non-bank ATM operators, which run an estimated 52% of the nation’s approximately 412,000 ATMs, are struggling to maintain profitability as revenues come under pressure and costs continue to rise, according to a recent study of U.S. ATM deployers by Tremont Capital Group Inc. and the ATM Industry Association. On the …
Read More »How a Digitally Minded Clientele Led a Small C-Store/Deli Chain to Install Bitcoin ATMs
With Bitcoin ATMs now having been deployed in scores of locations around the world, merchants are starting to see how the machines could potentially drive traffic and sales—especially with a younger, hipper clientele. The latest merchant to install Bitcoin machines is Locali Conscious Convenience, a three-store deli and convenience-store chain …
Read More »A Smart Phone in Hand Could Mean Cash in Pocket From an ATM
Security and convenience-conscious consumers wielding smart phones may one day have a safer and easier way to get cash from ATMs. ATM maker Diebold Inc. is testing a cash-dispensing-only ATM that relies on a mobile wallet to authenticate the consumer, eschewing a PIN pad and card reader. The ATM, …
Read More »EMV Chip Cards and Revenue Streams Worry Independent ATM Deployers
The coming of Europay-MasterCard-Visa (EMV) chip cards along with pressures on interchange and surcharge revenues are the top three concerns of U.S. ATM independent sales organizations and other retail deployers, according to survey results from the ATM Industry Association. The trade group’s annual survey of what’s on its members’ minds …
Read More »Lamassu Claims First U.S. Bitcoin ATM Deployment with Installation in New Mexico
What is said to be the first ATM for Bitcoins in the United States was announced on Tuesday by Lamassu Inc., which made the machine. The ATM is installed in a cigar bar and lounge near the University of New Mexico in Albuquerque, according to a news release from Lamassu. …
Read More »Mobile-Payments Specialist Paydiant Patents an App That Stages ATM Cash Withdrawals
A mobile-banking feature that allows ATM users to stage withdrawals in advance received a patent Tuesday from the U.S. Patent and Trademark Office. The technology, conceived and implemented by Paydiant Inc., a Wellesley, Mass.-based startup, has already been integrated into software at ATM maker Diebold Inc. and at Fidelity National …
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