Thursday , March 28, 2024

Search Results for: atms

MasterCard Spots Signs of a Turnaround in Cardholder Spending

Despite what MasterCard Inc. executives labeled a “strong quarter” of earnings, U.S. credit card purchase volumes continued to fall in the three months ending March 31. In addition, MasterCard’s debit card count dropped by 1.6% even though debit transaction volumes grew.But signs of both an “underlying momentum of our business …

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New MasterCard ATM Rates Will Crimp Income for Banks And ISOs

Independent sales organizations and financial institutions that deploy ATMs have suspected for weeks that MasterCard Inc. planned to cut the interchange income allowed on withdrawal transactions on its Cirrus network, but now the total cost of the move is becoming clear. The hit to U.S. ISOs alone could amount to …

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Discover’s Hybrid Growth Strategy Boosts Network Volumes

Discover Financial Services now has more than 100 bank card merchant acquirers booking small to medium-sized merchants for its network, the company reported today at an investor presentation in New York City. Discover predicts that those acquirers will enable Discover acceptance in 97% of their new merchant sales in 2010's …

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BofA’s Move on Debit Card Overdrafts Could Herald Big Revenue Drain

Bank of America Corp.'s decision to stop offering overdraft protection on debit card transactions casts a spotlight on billions of dollars in fee revenue issuers earn from cardholders that could drain away if the bank's move becomes a trend. It could also be a harbinger of a move by consumers …

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Consumers Show Surprising Affinity for Mobile Remote Capture

While many bankers and even technologists may regard handset-based electronic deposits as esoteric, consumers seem not only familiar with the product but favorably inclined toward it, according to a survey by Mercatus LLC, a Boston-based consulting firm that follows mobile banking and payments. The survey, conducted in December among more …

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Encryption, PIN Security, EMV Top Busy Agenda for PCI Council in 2010

A busy year is on tap for the PCI Security Standards Council, with revisions due not only for the main Payment Card Industry data-security standard but also standards governing PIN-entry devices and payment-processing software applications. Plus, the PCI Council plans to take a close look at two widely discussed security …

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How Biller-Direct Payments Are Making Slow But Steady Gains

The biller-direct channel of paperless bill payment is growing faster than the so-called consolidator channel that consists largely of bank and credit-union Web sites, though not by much, a new report from Aite Group LLC says. The report also says average transaction sizes are increasing and that the biller-direct vendor …

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Eye on Processing: Glitches Strike in U.S., Germany, And Australia

Payment card processing glitches struck in the U.S., Germany, and Australia over the past week. Although full details about them still aren't known, the foreign ones apparently involved applications that couldn't properly handle the change in year on Jan. 1?problems eerily reminiscent of those predicted in the late 1990s during …

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Eye on Prepaid: Facebook, Western Union, And Green Dot

Prepaid card processors paired up with partners ranging from Facebook to Western Union to the MoneyPass surcharge-free ATM network in deals this week that expand the processors' distribution channels and transaction sources. In a cutting-edge deal that further opens up an Internet parallel to gift card giving, grocery chain Safeway …

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RBS WorldPay Indictment Outlines Sophisticated Hacker Coordination

An indictment handed down on Tuesday against a gang of hackers in the RBS WorldPay Inc. case sheds more light on the sophistication and intricate coordination with which criminal groups worldwide are attacking payment processors, particularly those in the U.S. More than a year after cybercriminals broke into the computer …

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