ATMs

ATM network changes and legislation rank as the top worries of ATM independent sales organizations, while declining transaction volumes also keep many ATM ISO executives up at night, according to newly released survey results. Kahuna ATM Solutions, a Bloomington, Ill.-based ATM ISO that services smaller ISOs, commissioned the survey, which …

Payments-industry executives and media reports have devoted most of their attention to the big debit card interchange cuts and network-routing aspects of the Federal Reserve Board’s proposed debit regulations that roiled the industry last week. But, given the Fed’s long list of requests for comment, the regulations in final form …

In a move that could bring millions of new users to a popular prepaid card program, the U.S. Department of the Treasury on Tuesday issued a final rule mandating that Social Security and other government benefits be paid to beneficiaries electronically. Under the new rule, beneficiaries will receive direct deposits …

A trade group of ATM independent sales organizations says its study of the major EFT networks’ surcharging rules favor banks at the expense of non-bank ATM owners. The Atlanta-based National Association of ATM ISOs and Operators, which represents ISOs that own or operate 70,000 ATMs, says it is negotiating with …

Payments companies ranging from leading merchant processors to prepaid card and ATM managers reported transaction growth in the third quarter, but some also faced pricing pressures and other drags on the bottom line. –No. 1 payment processor First Data Corp. said transactions in its merchant-processing unit called Retail and Alliance …

Banks are abandoning their dreams of ATMs generating profits and instead returning to their original focus of using the machines for customer service, according to new findings from First Annapolis Consulting Inc. Linthicum, Md.-based First Annapolis spoke with executives from the nation’s 10 largest banks by assets about their ATM …

Just as financial institutions were digesting the idea of letting consumers deposit checks by snapping images of them with their handsets, along comes PayPal Inc. with the first such application offered by a non-bank—and one that has so far proven to be quite popular. San Jose, Calif.-based PayPal announced late …

A rash of debit card fraud has hit customers of the discount supermarket chain Aldi, though its extent and methodology have not been divulged. Criminals obtained customers’ PINs and card numbers in the Midwest to make unauthorized ATM withdrawals in other states, especially California. Batavia, Ill.-based Aldi’s case is different …

Countering the perception that they’re not as tech-savvy as their banking brethren, credit unions are adopting imaging ATMs at a greater rate than banks, according to new findings from Celent LLC. In fact, when it comes to adoption of 14 tech-related services or operations for branches, including imaging ATMs, credit …

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 …