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ATM owners and operators are thrilled about the new opportunities deposit automation and mobile devices are creating for their industry. They’re not so thrilled about the major card networks, according to survey findings released Tuesday by the ATM Industry Association, an international trade group of ATM independent sales organizations, …
Read More »ATM Heists and Global Payments Hack Demonstrate Havoc from Processor Breaches
Three recent breaches at payment card processors show just how much damage such breaches can do, and provide reminders about how hacked companies do their best to say as little as they can about them publicly. Federal authorities say the latest two breaches, which garnered worldwide headlines in recent …
Read More »Retail ATM Deployers Look for New Revenues As Interchange Declines
Interchange rates on ATM transactions are falling and may not have hit bottom yet, so independent distributors of ATMs need to look for additional sources of revenue. That is the conclusion of a recently released white paper entitled, “The Future of Interchange in the United States,” sponsored by the …
Read More »Why ATM Skimming Fraud Jumped Ahead of Point-of-Sale Skimming in 2012
Credit and debit card skimming at automated teller machines outstripped card skimming at the point of sale in 2012, according to a new fraud report from FICO Labs, a San Jose, Calif.-based predictive-analytics and decision-management software unit of Fair Isaac Corp. Twenty states also saw an increase in credit …
Read More »NYCE Hopes To Drive New ATM Traffic with a Limited-Surcharge Program
For ATM owners struggling to attract consumer traffic, half a loaf of surcharge revenue may be better than none at all. A new program called Dollar$top from processor Fidelity National Information Services Inc.’s (FIS’s) NYCE electronic funds transfer network will put the concept of a limited fee to the test …
Read More »After Prolonged Development, A Startup Begins to Vend Prepaid Cards from ATMs
After five years of development, an ATM technology company with its eyes on the prepaid card market says its business model of selling prepaid cards through ATMs is ready for prime time. As evidence, Better ATM Services Inc. on Tuesday announced it would enable the sale of a Discover-branded gift …
Read More »Looking to Compensate for Durbin Losses, Banks Hike ATM, NSF, Account Fees
In what appears to be a continuing case of revenue recovery in one area when another one gets tight, financial institutions are continuing to raise ATM fees, some to record levels, according to Bankrate Inc.’s latest annual survey of bank fees. The North Palm Beach, Fla.-based provider of financial information …
Read More »Eye on Security: PCI Guidelines for Mobile Apps; MasterCard’s EMV Rules for ATMs
Continuing its slow march toward comprehensive security requirements for mobile payments, the PCI Security Standards Council on Thursday released a set of best practices for developers of software for mobile devices. The guidelines follow by four months the guidance about mobile payments that the Council released for small merchants. The …
Read More »Pulse Pulsates with New Issuers As MoneyPass Adds POS Utility to Its ATM Network
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Read More »ATM ISOs Sue Visa And MasterCard over Surcharge Restrictions
A trade group of ATM independent sales organizations on Wednesday filed a proposed class-action lawsuit against Visa Inc. and MasterCard Inc. alleging that network rules illegally forbid them from imposing lower surcharges for ATM transactions that go over the rails of unaffiliated electronic funds transfer networks. Those anti-discrimination rules require …
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