Payments News

On The Web

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Systems

Coinsquare, Just Cash Partnership Enables Non-Bank ATM Crypto Transactions

“Coinsquare , a Canadian cryptocurrency trading platform, announced it has bought an eight figure controlling stake in fintech software producer, Just Cash. The acquisition will enable the firm to introduce crypto transactions on traditional, non-bank ATMs in the United States. Just Cash developed a software to retrofit ATMs to sell cryptocurrencies via a customer’s debit […]
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Tech

Why Credit Card Acceptance Actually Spurs Cash Use at Vending Machines

“The most recent study found that contrary to some expectations, cashless acceptance not only does not cannibalize cash sales, but actually boosts them. In addition, cashless technology drove top line sales growth more for low-performing machines (generating less than $2,000 a year in sales) on a percentage basis than for higher-performing machines. The M.S.U. study […]
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Tech

ATMs, Once the Future of Banking, Are Starting to Become More Scarce

“The number of ATMs around the world fell for the first time last year as banks closed branches and redirected resources toward digital payments, consulting firm RBR said in a study released Monday. Declines in four of the world’s five largest markets — China, the U.S., Japan and Brazil — drove the 1% drop in […]
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Tech

The ATM at Age 50 Puts the Spotlight on the Future Role of Cash

“While no one today believes ATMs are going away, their future no longer resembles the clear path that opened in 1969. Virtually every bank and all but the smallest credit unions now have their own ATMs, and non-bank ATMs can be found in every high-traffic retail location. And the continued increase in credit and debit […]
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Security

E Sun Bank fits face recognition to ATMs

“E Sun Commercial Bank has fitted face recognition security to its ATMs. The Taiwanese Bank is using NeoFace technology from NEC Corporation to authenticate uses at ATMs in five different locations. “These are the world’s first facial recognition automation ATMs with one-time password technology,” says the company.”
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Tech

Bank Fees: ATM Charges Hit Record High and Faster Hikes May Be Coming

“Those pesky ATM fees have climbed to a record high, and the pace of increases may soon accelerate. The average surcharge that ATM operators charge non-customers to withdraw cash rose 2% over the past year to $3.09, the 15th straight year of increases, according to a July survey by Bankrate.com. The good news is that […]

On The Wires

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Tech

Cardtronics Integrates FIS Cardless Cash Into Fleet of ATMs

“Cardtronics , the world’s largest ATM owner and operator, has completed integration with FIS Cardless Cash. Currently, 11,000 ATMs have been enabled and an additional 8,000 ATMs are to be readied for cardless withdrawals over the next several months. Cardless Cash leverages the FIS Mobile Banking app to allow consumers to withdraw funds without having […]
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Deals

Payment Alliance International Acquires Eclipse Cash Systems

“Payment Alliance International ( PAI ), a leader in ATM portfolio management tools and services, announced today that it has acquired Arizona-based ATM operator Eclipse Cash Systems . The acquisition adds more than 15,000 ATM terminals and brings an additional four financial institution partnerships to PAI’s existing nationwide network of over 75,000 ATMs. Eclipse’s strong […]
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Tech

VocaLink Signs UK’s Largest Ever ATM Processing Deal With LINK

“Under the five year contract with LINK Scheme and its 38 Members, VocaLink will provide ATM switching and settlement services and will support the processing of over 70,000 ATMs connected to LINK in the UK and across Europe. The LINK ATM network allows people to easily access cash and other services, with over 97% of […]
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Tech

Travelex Expands ATM Acceptance to Major Global Payment Schemes With Transaction Network Services

“Through the partnership, Travelex will expand the card schemes available across its 1,050-strong ATM network. The company will use TNS’ managed hosting service to maintain its Switch transactions and will now accept JCB, Discover, DCC, and UnionPay cards. TNS’ hosted managed service will support ATM transactions for local and foreign currencies as well as dynamic […]