Bangalore cops to crack down on FIs flouting ATM security regs

The announcement followed reports by the media that banks were ignoring regulations imposed last year after a vicious machete attack on a woman using an ATM.

FEATURES


ATMs lose their charm in Chile

The current ATM availability crisis and exchange of public blows highlight the essential nature of ATMs in today's payment ecosystem.

Fed's controversial 'Choke Point' collars ATM processors

The government's Operation Choke Point initiative has put a stranglehold on many law-abiding businesses — including payment processors and pornographers.

Virtual currency dominates day one of Money 20/20 conference

Ben Lawsky, New York's superintendent of financial services, addressed the status of the state's controversial BitLicense regulatory framework.

AMIS highlights: 'This year's conference was also terrific'

A video journal of highlights and attendee comments from the second annual ATM & Mobile Innovation Summit in Washington, D.C.

The ATM industry: Bound for ... where?

Industry experts fielded questions at PayThink 2014 in a session dedicated to sussing out the future of the ATM.

Obama executive order calls for 'BuySecure' initiative

An executive order from the president directs the government to lead the way in securing financial transactions and sensitive data — and in pushing toward nationwide adoption of EMV.

In the US, it's a slow road to faster payments

Based on its Faster Payments study, the Fed seems to be driving toward an overhaul of the US payments system, but stakeholders prefer a more incremental approach.

Why is ATM patent troll ATL selling its stock-in-trade?

Patent troll ATL is offloading 28 of its ATM patents, as well as a couple more that it has pending. Here's the backstory that might explain why.

Low-income households pump money into retailer wallets

A new research paper by three economists predicts that the little guy will shell out more money as FIs seek relief from the revenue-slashing effects of the interchange cap.

Out in the cold: The ATM industry wants routing choice, too

ATM industry representatives recently made their case to the Fed for inclusion in Reg II, the Durbin Amendment rule that gives merchants a choice of competing payment networks.

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NEWS


PCI SSC issues updated PIN security requirements for ATMs, POS devices

The program contains a complete set of requirements for the secure management, processing and transmission of PIN data at ATMs and POS terminals.

Proposed bill calls for moratorium on virtual-currency regulation

Congressman's 'Cryptocurrency Protocol Protection and Moratorium Act' would also modify the IRS property ruling.

Discover takes Visa to court over debit card practices

The company has filed a suit claiming that Visa engages in anticompetitive behavior by requiring issuers to use its services for both PIN and signature debit.

Resumption of ATM fees drives Nigerians to other channels

ATM transaction has volume declined by approximately 9.6 percent since the reinstatement of charges, according to figures from the nation's central bank.

Maryland seeks to impose ATM withdrawal limits at casinos

Under a proposed rule, ATM transactions on the gaming floor would be limited to $250 per transaction with a total daily limit of $2,500.

Cardtronics settles NFB litigation over ATM accessibility

The company has agreed to establish an 'accessibility center of excellence,' which will develop enhanced voice guidance software for blind customers.

5th annual survey asks US IADs to air their concerns

The 5th annual study seeks to identify and address US IADs' most pressing concerns in the areas of government legislation, regulatory compliance and competitive challenges.

Elan licenses MasterCard common AID

Licensing the MasterCard common application identifier allows Elan to facilitate US domestic debit transactions on the network in accordance with Durbin routing requirements.

Vantiv prepped to roll out Durbin-compliant EMV card solutions

Having completed the first US Common AID-enabled EMV debit transaction with US merchants, Vantiv will begin production of Visa- and MasterCard-certified cards in January.

Bitcoin ATM maker partners with AML solutions provider to ensure compliance

The companies will integrate the IdentityMind international compliance platform for virtual currencies into Lamassu bitcoin ATMs.

FFIEC report poses key questions about cybersecurity

Testing plans across business functions and with third parties will help FIs identify and manage gaps before cyber attacks occur, the council says.

Study: The divergent paths of digital currency regulation

Authorities globally have taken a wide variety of positions on the regulation of digital currency, making it hard for payment industry players to provide technology that will support digital currency transactions.

US gov't to introduce EMV for EBT cards

Following on high-profile data breaches originating at POS terminals, the Obama Administration is reportedly taking measures to ensure the security of electronic benefits payments data.

ATM fee foe sues central bank

A rights activist is petitioning Nigeria's federal court to rescind an order that reversed a 2012 ban on foreign fees.

New York issues emergency rule on ATM safety compliance reporting

The emergency rule precedes planned amendments that will require semiannual reporting of security compliance at institutions' ATM facilities.

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Keep abreast of the laws and regulations governing the ATM industry.