Digital Transactions Authoritative, insightful and timely information for payments professionals
The widening damage from the unfolding debit card hacking incident is challenging the conventional wisdom that PIN-based debit cards are inherently more secure than credit cards, which rely on signatures?though it still doesn't make a case for chip cards. That's according to one expert whose latest estimates are that this …
Read More »As Banks Reissue Debit Cards, Experts Warn of More Compromises
More banks are reissuing debit cards as suspect transactions pop up throughout the United States and other countries, according to media reports this week. Investigators believe many of the transactions could be related to a security breach at a merchant facility in California that happened late last year, but the …
Read More »Why Info Touch Sees Benefits in 40-ATM Pilot with Cardtronics
The idea of merging financial-services kiosks with ATMs will be tested this spring when Info Touch Technologies Corp., operator of the TIO kiosk network, and ATM deployer Cardtronics Inc. begin driving some 40 machines specially fitted to dispense cash withdrawals and perform kiosk functions such as bill payments. The machines …
Read More »Cardtronics Reports Lower Net in Part on Faster Retail Deployment
Cardtronics Inc., which operates the largest network of ATMs in the U.S., reported a net loss of $900,000 for the fourth quarter of 2005 along with a full-year drop in net of $3.7 million, to $900,000. The results came on increases of 12.6% and 39.5% in revenue, respectively, for the …
Read More »ATM King Cardtronics Sees Further Expansion Via Bank Deals in ’06
After rapid growth that has propelled it to the top of the ranking of U.S. ATM owners, Houston-based Cardtronics Inc. looks toward another year of major expansion in 2006, company officials tell Digital Transactions. In a story appearing in the January-February 2006 issue of the magazine, the company says it …
Read More »ATM-Owning Banks Earn $4.3 Billion As Surcharges Hit Record High
ATM-owning banks are earning $4.3 billion annually on charges they levy on transactions cardholders perform on so-called foreign machines?ATMs owned by banks where the cardholder is not a customer, according to a semi-annual study released today by Bankrate Inc., North Palm Beach, Fla., an aggregator of financial data. The average …
Read More »Credit Union 24 Moves to a New Switch As It Looks to New Services
Credit Union 24, an electronic funds transfer network based in Tallahassee, Fla. and the country's largest controlled by credit unions, is planning to move its switching service to a new processor in a conversion it says will start next March and will take about nine months. The move will bring …
Read More »With Rita Looming, Pulse Moves Switch to Data Center in Dallas
With Hurricane Rita bearing down on the Gulf coast of Texas, Pulse EFT Association Inc. announced today it has moved processing operations from its Houston data center to a redundant center in Dallas. Cindy Ballard, executive vice president for the electronic funds transfer network, called the move “purely precautionary” in …
Read More »Report: Prepaid Cards’ Growth Will Pressure Money-Transfer Nets
With banks issuing or planning to issue more and more prepaid debit cards to handle remittances overseas, more banks are expected to enter the market, putting pressure on the established money-transfer businesses like Western Union Holdings Inc., a new research report concludes. According to the report, entitled “Money Transfer Cards …
Read More »Cardtronics’ ATM Network Doubles While Surcharge Margin Sags
Second-quarter financial results from Houston-based Cardtronics Inc. show the country's largest non-bank ATM operator has more than doubled the number of ATMs it runs, to 26,241, in the year from June 30, 2004, primarily owing to its $106-million acquisition in June last year of E*Trade Financial Services' portfolio of 15,000 …
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