Fed won’t set Interchange Fees
ATM Marketplace.com WASHINGTON — The Federal Reserve said last week it won’t intervene in the growing market of card interchange fees, now as much as $30 billion a year. A Fed official said the United States’ central bank should not get involved in the conflict going on between the two major card companies, Visa USA…
7-Eleven intros second wave of Vcom ATM hybrids
ATM Marketplace.com The New York Times: ATMs have long been a staple in convenience stores, but now several major chains, including 7-Eleven, are installing transactional kiosks able to do a lot more. 7-Eleven is introducing its second wave of custom-made terminals called Vcoms this year. The chain’s more than 1,000 Vcoms dispense cash, sell Verizon…
MBNA America Bank launches contactless credit cards in Atlanta
Contactless News WILMINGTON, Del.– MBNA has begun issuing credit cards that feature MasterCard PayPass contactless payment technology to its new and existing customers in Atlanta, with customers in additional markets to follow in the coming months. PayPass integrates a radio frequency chip and antennae in the card plastic. Cardholders simply “tap” their cards…
Signature Debit Fraud Runs 15 Times Higher Than on PIN Debit
Digital Transactions News Oct. 12, 2005 “Financial institutions lost an estimated $546 million to debit card fraud in 2004, with fraud rates running much higher on signature-based cards than on cards secured with PINs, according to study released this week. Banks lost $345 million in fraud committed on ATMs, while fraud on signature-debit cards cost…
Why More Merchants Are Adopting PIN Debit
Digital Transaction News April 4, 2004 “Debit cards linked to personal identification numbers are slowly but surely penetrating more and more merchant locations, and as a result PIN debit transactions will begin to overtake transactions on signature-based debit cards within five years, says an analyst at Speer & Associates Inc., Atlanta, who has studied the…
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