India's state banks refigure ATM install numbers for the fiscal year

The country continues to pursue its goal of universal financial inclusion enabled by a robust nationwide network of ATMs.

FEATURES


USPS pushes 'collaboration' with FIs

A Pew study showed that most consumers are indifferent to the idea, but 64 percent of those in the target market (i.e., the un- and underbanked) favor it.

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.

PayToo bridges mobile and ATM worlds with cardless cash access for the unbanked

The company's mobile wallet, which combines telecom and payment services, is crossing over to the ATM market to provide card-free cash access at PayToo-enabled Genmega ATMs.

The ATM isn't dying, it's being transformed

'Kicked the bucket? Shuffled off the mortal coil? Joined the choir invisible?' Not the essential, adaptable ATM. 

Debate: Is cash an impediment to the world economy?

“There needs to be a move beyond cash in order for the vast majority of the people in the world to become full working participants in, and beneficiaries of, the economic system,” said Leland Englebardt, group head, global network products...

Are we exploiting the unbanked once they enter the system?

An ex-employee sued McDonald's claiming that its policy of paying unbanked employees' wages via prepaid  meant that her income was eaten up by card fees. A panel of payments experts tackles this difficult issue at the ATM & Mobile Executive Summit in Washington, D.C.

Amex Bluebird evolves into a 'virtual bank'

Now offering FDIC insurance and paper checks, the prepaid is looking like an online bank with ATM branches.

The underbanked: embracing the prepaid phenomenon

As the underbanked increasingly choose prepaids for their money management needs, new opportunities arise for the ATM industry.

India's ATM industry is banking on the unbanked

The up-and-coming nation has ambitious plans for improving its current ATM-to-citizen ratio of 1:13,333.

Emerging economies embrace banking innovations

ATMs, mobiles and kiosks play nicely together, enabling financial inclusion in developing countries.

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NEWS


Indicash rolls out new value-added services for white label ATMs

The network operator says that three new service offerings will help to create a 'seamless banking experience' at its 5,500 ATMs across India.

Post office banking? Could be

A new report from the US Postal Service Office of the Inspector General examines five pathways the organization could take to providing bona fides banking services.

ATM kiosk startup launches with Apple cofounder on board

Planet Capital, a developer of multifunction ATM kiosks, announced its launch in the self-service payments space last week, dropping the names of some 'heavy-hitting' advisors.

Orange launches mobile money transfers for Ecobank customers

Accountholders can use their mobile phones to transfer funds at any time without needing to go to a distribution point or have physical cash.

Gemalto to deploy prepaid EMV bankcards in South Africa

The card is certified by the major payment schemes and accepted at more than 27,000 ATMs and 240,000 EMV-compliant POS terminals throughout the country.

Snorrason to enable online cash payments via CashU deal

The company says its DalPay.com merchants will now be able to do business in the Middle East and North Africa using the locally preferred payment method.

Report: Technologies and trends shaping walk-in bill payment

The report provides a perspective on walk-in bill payment market transactions, dollar volume, and revenue, and highlights changing trends.

TIO wins patent for change-based 'reverse ATM' transactions

The patent offers a solution for transactions at a payment kiosk, or 'reverse ATM,' in which a customer must either insert exact change for a payment or round up to the next dollar and forfeit any change due.

Ecuadorian FI extends service to unbanked with cash-recycling ATMs

The technology will allow Banco del Pacifico to expand into underbanked regions by reducing the frequency and cost of cash replenishment visits.

India's ICICI Bank adds cardless cash withdrawal capability

The FI's customers can now send money to anyone in the country, even if the recipient doesn't have a bank account.

ATM, mobile providers meet up in Ugandan cash-out service

Customers of mobile money network MTN will be able to obtain cash at 147 Centenary Bank ATMs across Uganda.

Global Payout bids to acquire prepaid-based mobile banking provider

Global Payout will purchase 100 percent of Maxie Mobile, a company that enables payments and ATM withdrawals from a prepaid mobile account.

Research: 'Card malls' should be part of prepaid distribution strategy

The total dollar volume loaded through card malls grew 19 percent in 2013, and new research says growth will continue.

FNB, NCR take home award for ‘Best ATM and Kiosk Project in Africa’

FNB won the award for its successful implementation of the NCR SelfServ 4 slim line kiosk, using a custom platform that supports the FI's inclusion banking strategy.

Genmega, PAI, Paytoo partnership brings cardless ATM access to the unbanked

The concept is now being tested in a 90-day pilot, after which the partners are prepared to roll out a nationwide deployment of several thousand machines.

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Information and findings on the Underbanked / Unbanked populations, and other related materials on ATM Marketplace.