Digital Transactions Authoritative, insightful and timely information for payments professionals
As financial-services companies begin switching out older ATMs for new ones running on Microsoft Corp.'s Windows operating system, they may at the same time be creating a security problem similar to the one that has long plagued network administrators overseeing fleets of networked computers running the same software. The problem …
Read More »Busting Open the Transaction Silos
Hewlett Packard Co. thinks banks processing ATM, Web, branch, and other traffic in separate channels could benefit by switching all this volume through one common system. The company, which through its acquisition of Compaq Computer Corp. owns the Tandem unit whose computers drive so many payment data centers, is readying …
Read More »How Check 21 Could Open Off-Premise ATMs for Deposits
When President Bush signed the Check Clearing for the 21st Century (Check 21) Act into law last month, he unleashed a flurry of activity among financial institutions and vendors looking for ways to take advantage of the law, which allows banks to exchange electronic images of checks instead of the …
Read More »U.S. Justice Department Blocks First Data-Concord Merger
Arguing that the transaction would stifle competition in the market for transactions secured with personal identification numbers, the Department of Justice filed suit today to stop a proposed $7.3 billion acquisition of Concord EFS by First Data Corp. Officials of Justice's antitrust division argued that the merger would weaken competition …
Read More »Worries Mount About Touch-Screen Voting
Celebrated movie actor Arnold Schwarzeneggar may have won yesterday’s wild and woolly recall election in California, but a verdict is still pending on the security and reliability of the ATM-like touch-screen voting machines used in four California counties. Some computer scientists and other observers fear the machines are susceptible to …
Read More »NetBank Will Acquire ATM Deployer FTI
NetBank Inc., which bills itself as the nation’s first commercially successful Internet bank, has agreed to acquire privately held Financial Technologies Inc., for cash and $1 million in restricted stock. Tommy Glenn, Jr., founder and president of FTI, says in a statement released today that the combination with NetBank will …
Read More »Check Truncation at the ATM
Two companies have teamed up to create a system that allows banks to capture electronic images of checks as they are deposited into automated teller machines, a development they say will drive up ATM transactions as it encourages more bank customers to use ATMs for deposits. Infonox, Santa Clara, Calif., …
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