News

July, 2013

• 30 July

  How Many Financial Institutions Can Fit on an ATM? Cardtronics Says up to 10

  Financial institutions wanting to expand the number of ATMs their customers can use in retail locations without those customers paying surcharges have a new option available under an approach announced late last week by Houston-based Cardtronics Inc. While Cardtronics has for years offered financial institutions the ability to put their …
• 30 July

  Green Dot Announces New Distribution, Marketing Deals for GoBank, Prepaid Cards

  Fresh from the launch of its GoBank mobile-banking product, Green Dot Corp. on Tuesday announced new marketing and distribution deals not only for GoBank but also for its core prepaid card program. Green Dot cards will be sold through 20,000 more retail stores, including locations belonging to Dollar Tree, Dollar …
• 26 July

  Durbin, Welch Urge Fed To Adopt Debit Caps That Look More Like the EU Proposal

  Two powerful lawmakers on Friday wrote to the chairman of the Federal Reserve Board urging the central bank to scrap its debit card interchange caps and instead adopt limits in line with the more draconian regime proposed this week by the European Commission. In their letter to Fed Board chairman …
• 25 July

  Wide-Ranging Hacker Indictment Casts New Light on Some Notorious Breaches

  A federal indictment announced on Thursday against four Russians and a Ukrainian man casts new light on some of the biggest breaches of payment card data in recent years. The defendants, affiliated with notorious computer hacker Albert Gonzalez, who is serving a 20-year prison sentence but named as one of …
• 24 July

  Debit Networks Offer EMV Compromise That Would Allow Visa, MasterCard Apps

  A trade group representing most of the nation’s debit networks has agreed to allow EMV applications other than its own to work on chip cards in the United States. The new position taken by the Secure Remote Payment Council represents what the group calls a “major compromise” and opens the …
• 24 July

  Looking to U.K.’s EMV Experience, A Consultancy Prods U.S. with a ‘Hot Poker’

  Rome wasn’t built in a day, and EMV won’t be fully implemented in the United States for some time to come, but at least some foreign observers who have experienced nationwide deployment of the Europay-MasterCard-Visa chip card standard are starting to show impatience with EMV’s sluggish U.S. progress. Fearing a …
• 24 July

  Interlink Starts Growing Again And Visa Prospers Despite Legal And Regulatory Uncertainties

  Visa Inc.’s Interlink PIN-debit network is recovering after a devastating year following implementation in April 2012 of the transaction-routing requirements in the Dodd-Frank Act’s Durbin Amendment. Visa reported Wednesday that Interlink transaction volume rose 25% in its third quarter of fiscal 2013 ended June 30, a sharp turnaround from the …
• 23 July

  Tribunal Rejects Canadian Merchants’ Pleas To Loosen Network Card-Acceptance Rules

  Visa Inc., MasterCard Inc., and their Canadian credit card issuers dodged a legal bullet Tuesday when Canada’s Competition Tribunal refused to quash network rules designed to protect cards from being undercut by merchants seeking lower-cost payment forms. Instead, the tribunal suggested that changing the law was the way for merchants …
• 22 July

  Allpoint Eyes More Surcharge-Free ATM Volume Through a New Pact with Discover

  Discover Financial Services has been in the spotlight over the past year because of its high-profile effort with PayPal Inc. to bring the online-payments leader’s service to millions of physical merchants. But that’s just one iron Riverwoods, Ill.-based Discover has in the fire. On Monday, the Allpoint surcharge-free ATM network …
• 18 July

  Retailer-Backed MCX Picks a Banker As CEO To Guide the Mobile-Payments Network

  Nearly a year after announcing itself, Merchant Customer Exchange (MCX) took another step toward achieving its goal of developing a cutting-edge mobile-payments system with the appointment of Dekkers L. Davidson as chief executive. Thursday’s announcement of Davidson, former managing director at credit card issuer Barclaycard U.S., as CEO comes hard …