Digital Transactions Authoritative, insightful and timely information for payments professionals
As fear of fraud climbs at electronic-funds transfer networks along with PIN debit traffic counts, the networks are adopting a variety of technologies to detect fishy transactions. The latest is Pulse EFT Association LP, a Houston-based unit of Discover Financial Services Inc. Pulse on Tuesday announced it is rolling out …
Read More »A Startup’s Technology Turns ATMs into Prepaid Card Dispensers
A Phoenix-area company called Better ATM Services Inc. thinks it has a better idea for merchandising prepaid cards: sell them directly at ATMs, with cards dispensed through the same slot that dispenses cash. Founded in 2005, the Mesa, Ariz.-based firm is now implementing its ideas at five local restaurants. Thomas …
Read More »How Cardtronics Could Make Use of $300 Million from Its IPO
The payment industry's Wall Street parade continued Monday when non-bank ATM network owner Cardtronics Inc. announced plans for an initial public offering of common stock. The Houston-based operator of 31,000 machines hopes to raise potentially $300 million, before underwriting fees and payments to current owners, to pay down debt and …
Read More »Diebold Sees Early Interest in Technology Linking Handsets to ATMs
New mobile-transaction technology developed by ATM maker Diebold Inc. is already attracting interest in the marketplace and promises to change not only the way consumers interact with ATMs but also how they pay merchants and each other. The North Canton, Ohio-based company announced earlier this week it had received five …
Read More »Star Fills in Some ATM Gaps With Its New Allpoint Connection
Processor First Data Corp.'s Star electronic funds transfer network on Tuesday announced a deal with the Bethesda, Md.-based Allpoint ATM network that Star expects will fill in some geographic gaps in its nearly nationwide ATM coverage. Under the arrangement, financial-institution users of Star's Starsf service will be able to offer …
Read More »How Non-Bank ATM Owners Are Culling Subpar Machines
Culling seems to be a popular practice at the two largest non-bank ATM networks these days. Both Cardtronics Inc. and financially troubled TRM Corp., which is telling investors it might not survive, lost money in the second quarter and say their U.S. ATM counts are down. TRM, which has been …
Read More »BofA’s Envelope-less ATMs Show Imaging Is Catching on with Users
Bank of America Corp.'s announcement this week that more than one-fifth of its deposit-taking ATMs now image checks?and thus don't require deposit envelopes?shows that so-called envelope-less ATMs are starting to catch on with consumers, says an expert observer. “The announcement is significant if only as a sort of marker showing …
Read More »Cardtronics’ Latest ATM Deal Hands 7-Eleven a Hefty Payoff
The agreement by Cardtronics Inc., the nation's largest ATM operator, to buy 7-Eleven Inc.'s entire U.S. fleet of 5,500 ATMs and Vcom multi-function kiosks hands the convenience-store chain a hefty return on its ATM investment while expandng Houston-based Cardtronics' network of machines by about 20%. The approximately $135 million cash …
Read More »Wells’s New Imaging ATMs May Signal More to Come for the Technology
Banks' efforts to rid ATM deposits of pesky?and costly?envelopes took a step forward on Tuesday with Wells Fargo & Co.'s announcement that it plans to add 825 new machines by year's end that will accept deposits without envelopes. Wells will deploy some 150 of the new ATMs, which allow customers …
Read More »Co-Op Readies a Credit-Union Entry Into ATM Check Imaging
Big banks get most of the attention when the topic turns to check imaging at ATMs. Now credit unions are about to get into the act. Ontario, Calif.-based Co-Op Financial Services, formerly known as the Co-Op Network, plans to make check imaging available to its nearly 2,000 credit-union members in …
Read More »