The ATM Industry's Bold, Expensive Makeover
Billions of dollars are changing hands in the ATM industry, accelerating a revolution in how self-service is used in both bank branches and retail stores.  more »
Payroll cards are part of the emerging mobile payments capabilities that are shifting the nature of financial transactions. more »
Bloomberg News
Requiring PINs on every transaction would make it harder for fraudsters to use lost and stolen chip cards; to use them, they would have to know or guess the PIN.
Banks give a lot of reasons for providing chip cards that work with signatures, rather than four-digit PIN codes, but none of them are convincing. more »
"Retail can serve as a test bed before we roll out the new technology to financial institutions," said Andy Mattes, president and CEO of Diebold.
Diebold and Wincor Nixdorf — which plan to merge under the name "Diebold Nixdorf" — were already in the midst of major projects to digitize bank branches and retail stores before the pressure from mobile devices led them to join forces to keep pace with innovation. more »
Bloomberg News
Diebold Inc. agreed to buy German rival Wincor Nixdorf AG for about 1.8 billion euros ($1.9 billion) to create the biggest maker of cash machines and security systems with more than $5 billion in sales. more »
At long last, the National Retail Federation has won the support of several U.S. attorneys general in its demand for chip and PIN security at the point of sale. But even this isn't enough. more »
Bloomberg News
The Federal Trade Commission, led by Commissioner Edith Ramirez, defied the banking industry’s entreaties and banned the use of remotely created checks by telemarketers.
In an effort to crack down on consumer fraud, the Federal Trade Commission announced Wednesday that it will ban telemarketers from using four payment methods that are frequently abused by scam artists. more »
Bloomberg News
Audi and Volkswagen logos
Volkswagen AG's "goodwill gesture" of $1,000 worth of gift cards to owners of cars with engines that pollute more than the law allows is helping the company identify those autos when it comes time to fix them, Audi of America President Scott Keogh said Tuesday. more »
Millennials are increasingly shunning big banks and going local with their money. more »
The Shazam PIN debit and ATM network has added the Independent Community Bankers Association of New Mexico to its client list. more »
Gift cards don't seem like the coolest technology in the payments world, but new and reinvented digital gifting platforms are changing the conversation – by borrowing text-messaging staples like emoji. more »
Have consumers benefited from the Durbin amendment? Unfortunately for opponents of the Dodd-Frank Act provision that capped debit swipe fees, no one is qualified yet to answer that question. more »
Bloomberg News
The alliance between JPMorgan Chase and the Merchant Customer Exchange represents more than an olive branch between two industries that have typically been at war over fee revenue — it's a result of a years-long transformation in how Chase approaches its relationships with the retail sector. more »