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Prepaid cards usually get reloaded through direct deposit or when the cardholder takes cash to a merchant, who then swipes the card and receives confirmation that the value has been credited to the card. Now Visa Inc., in an effort to expand its Visa ReadyLink prepaid card reload network, is …
Read More »Debit Study: No-Surcharge, Rewards Get Hot, Contactless Cools off
ATM surcharges often make the news when they hit a sensitive threshold such as $3, but the flip side of the story is the growth of options banks and credit unions offer customers to avoid paying the fees. According to newly released results from the Pulse electronic funds transfer network's …
Read More »ATM Network MoneyPass Quietly Books a Slew of New Members
The Allpoint and Co-op surcharge-free ATM networks are bigger, but Minneapolis-based U.S. Bancorp's MoneyPass network has been on a quiet growth spurt in 2008. MoneyPass over the spring and summer has announced a number of new members and in October is set to boost its ATM count by another 3,000 …
Read More »Cardtronics Looks to Market Its In-House Processing Platform
With its U.S. operations holding up despite the economic slowdown, non-bank ATM network operator Cardtronics Inc. is eyeing opportunities as a third-party ATM processor. Cardtronics executives said at a conference call with analysts on Tuesday morning that the conversion of the network's nearly 33,000 ATMs to a new in-house processing …
Read More »With Boston on Board, Select-A-Branch Plans Further Expansion
Select-A-Branch, the multibranded surcharge-free ATM network, reported on Tuesday that it has completed installation of 10 machines in Massachusetts Bay Transportation Authority subway stations, but its growth train won't stop in Boston. “Look for us in some major airports,” Dan Stechow, chief operating officer of King of Prussia, Pa.-based Select-A-Branch …
Read More »Coming Soon to Cardtronics Vcom Kiosks: Imaged Deposits
Non-bank ATM network operator Cardtronics Inc. has been trying to pump up transaction volume on its advanced-function Vcom machines ever since it bought them last July from 7-Eleven Inc. as part of the 5,500-machine ATM fleet the convenience-store giant unloaded for $137.3 million. Next week, part of that strategy takes …
Read More »TRM Looks to Revival with $15 Million Deal for Access To Money
After a long period of downsizing and financial turbulence, non-bank ATM network operator TRM Corp. says it's getting its act in order and is ready to grow again. Portland, Ore.-based TRM just bought the New Jersey-based Access To Money network in a $15 million deal that brings another 4,200 ATMs …
Read More »Cardtronics Looks for 2008 Payoff from Former 7-Eleven Vcom Fleet
Bolstered by the acquisition of convenience-store giant 7-Eleven Inc.'s sizable ATM business, leading non-bank ATM network operator Cardtronics Inc. on Thursday reported fourth-quarter financials that show an improvement in most operating measures. Company executives insist their efforts to improve the performance of 7-Eleven's high-function Vcom kiosks as well as other …
Read More »Citibank’s ATM Restriction Spotlights Rising Withdrawal Limits
A recent effort by Citigroup Inc.'s Citibank to minimize the effects of a spate of fraud by cutting some customers' daily ATM withdrawal limits in the New York City area has cast some light on a dim corner of the payment industry. Daily withdrawal limits on ATMs are up dramatically …
Read More »A New Web Site Seeks to Broaden the Market for Merchant Portfolios
Seeking to create a more fluid market for merchant portfolios, two entrepreneurs have created a Web site to showcase assets and broker deals. Boston-based Merchantportfolios.com, which went live about a month ago, is attracting what Lane Gordon, one of the partners, refers to as a “double-digit” number of users browsing …
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