Competitive Strategies

E*Trade Financial Corp. today announced it agreed to sell its ATM network to Cardtronics Inc., an ATM deployer based in Houston, for $106 million in cash. E*Trade, a New York-based online banking and brokerage company, operates a network of 15,000 ATMs in an operating unit called E*Trade Access Inc. The …

Woodside, Calif.-based PassMark Security LLC, which incorporated only in February to attack phishing and other online transaction fraud, says it has attracted interest in its solution from banking and retailer Web sites. The company is now in serious discussions with “eight to ten major sites,” says Bill Harris, chief executive, …

Pay By Touch, a San Francisco-based company that has been marketing a point-of-sale payment system that relies on fingerprint scans rather than cards or other devices to authenticate transactions, scored a sweeping victory today in litigation over the central patents to its technology. Judge Maxine Chesney of the U.S. District …

Demand from corporate clients?combined with a deadline that's only five months away–is a major factor pushing banks into check imaging, according to a top executive with one major supplier of check-processing software. Although many banks are poised to begin accepting so-called image replacement documents when the Check Clearing for the …

Deploring the extent to which banks have turned over key functions in consumer payments to non-bank companies, a leading figure in the payments industry on Thursday called on banks to “seize back” leadership in the industry. In a keynote address delivered at the Bank Administration Institute's TransPay trade show in …

Viewpointe Archive Services LLC announced this week it will begin sharing check images among banks participating in its image-exchange in September. The company has worked out a tentative pricing schedule and is working on systems to perform such value-added functions as checking image quality and translating images from one bank's …

Fiserv Inc. expects to do a major business in the new substitute check instrument that has been created by the Check Clearing for the 21st Century Act (Check 21)?so much so that it is entering into agreements with a software company and an air carrier to deliver and process potentially …

Metavante Corp., which today announced it is paying $610 million in cash to buy the NYCE electronic funds transfer network from First Data Corp. and its bank owners, sees the deal as part of a nearly $1 billion payments strategy that has led the Milwaukee-based processor to snap up other …

Metavante Corp. announced today it has agreed to buy Advanced Financial Solutions Inc., an Oklahama City-based company specializing in check-processing technology and owner of the Endpoint Exchange, a network that routes electronic check images among processors and financial institutions. No price was announced, though Metavante officials said this acquisition, in …

CheckClear LLC, which owns and operates what is so far the only national image-exchange network in operation for check processing, announced today it is planning to connect to an image exchange being built by the Federal Reserve. It also said it has made an agreement to connect to imaging equipment …