Digital Transactions Authoritative, insightful and timely information for payments professionals
Just three weeks after its parent company struck a novel deal with PayPal Inc., The Star Network pushed the boundaries of PIN-debit a bit further by unveiling a prepaid card reload service for ATMs and point-of-sale locations. Star, a unit of Atlanta-based processor First Data Corp., claims its load and …
Read More »Fraud, Security Raise Cost Concerns for ATM Managers, Report Says
Fraud control and data security rank at the top of bank ATM executives' concerns as they try to keep their networks competitive, according to results of an Aite Group LLC survey. A separate survey by Bankrate Inc., meanwhile, shows that ATM surcharges rose over the past year but foreign fees …
Read More »With Pulse Deal, Interac Expands Its Cross-Border Utility
Canada's Interac Association PIN-debit network this week announced a deal with the Houston-based Pulse network that will let holders of Pulse, Discover, and Diners Club cards withdraw cash at Canadian ATMs. More such deals with other networks are likely as Interac seeks to let foreigners use their cards while visiting …
Read More »With 1.4 Million Employees, Wal-Mart Puts Payroll Cards on the Map
In yet another move that could shake up the financial world and boost electronic payroll cards, Wal-Mart Stores Inc. is eliminating paper checks for employees. Under the new payroll program, employees who don't have direct deposit will be issued a MasterCard-branded payroll card through the First Data Money Network Payroll …
Read More »Eye on Security: ‘Unique’ ATM Malware; Theft of Sony Card Data
Malicious software has been discovered on some Eastern European ATMs that has dangerous new powers to extract money as well as card data, according to a security executive. Meanwhile, Sony Corp. of America has confirmed that someone illicitly copied more than 5,000 credit card numbers of its customers who visited …
Read More »Older Operating System Lingers, Holds Back ATM Services, Study Says
Banks aiming to improve customer service should accelerate their move away from old ATMs and the IBM operating system that ran them for years, according to conclusions in a new Aite Group LLC study of banks' ATM channels. While the transition from IBM Corp.'s old OS/2 operating system to Microsoft …
Read More »With Antonini’s Abrupt Departure, Cardtronics Looks for a New Boss
Cardtronics Inc. chief executive Jack M. Antonini has left the company, the big non-bank ATM network operator announced on Wednesday. The company didn't give a reason for the sudden departure of Antonini, who has been its top officer since 2003, though a short press release indicated its board of directors …
Read More »Eye on Earnings: Cardtronics, TIO, Online Resources
Key operating metrics posted solid gains in recent quarterly reports from two of the payment industry's specialty providers, non-bank ATM network operator Cardtronics Inc. and expedited bill-payment provider TIO Networks Corp. Houston-based Cardtronics, however, still posted a $57.9 million fourth-quarter loss, most of which originated with a one-time charge involving …
Read More »RBS WorldPay Rocked by ATM Fraud As New CEO Takes the Helm
A new chief executive has taken over at merchant processor RBS WorldPay Inc. just as news erupted this week of a major worldwide ATM fraud that relied on card data stolen from the processor's system last year. Ian Stuttard took the helm of the Atlanta-based company, a unit of Royal …
Read More »Deal with TRM Unit Gives Select-A-Branch Access to National Market
Select-A-Branch ATM Network LLC, the startup that offers electronic multibank branding on its ATMs, is about to bust out of the Northeast thanks to a new pact with TRM Corp.'s Access To Money network. The exclusive distribution agreement-in-principle deal would give Select-A-Branch potential access to about 3,000 ATMs in convenience …
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