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Remember September: The ATM Marketplace Top 5
Summer might have been all fun and games, but in September, the ATM industry's attention turned to more serious stuff — EMV, mobile wallets and more.
October 1, 2015
October is underway. Yesterday, the retail sector's seismic shift to EMV went down in the historical record. It's all over now until the aftershocks, at which point we can expect the mainstream media to ditch the old headline:
'Cards with computer chips to stop fraud!'
... for the new headline:
'Cards with computer chips fail to stop fraud!'
Meanwhile, with an EMV shift of their own looming in 12 months, ATM deployers will be looking for clues about what it means to be EMV-unabled in a post-chip world.
This question was certainly in the air in September: Two of the top five features last month dealt with retailer readiness for EMV — and the possible repercussions for the unready.
Other tech topics also made the top five:
Readers took interest in two mobile wallet stories, indicative of the growing movement toward cardless ATM withdrawals — and the contest that could be shaping up between cash and tap-to-pay transactions.
A bitcoin ATM article also rated well with readers. The digital currency was supposed to be a finger in the eye of the establishment. But now a cabal of old-school bankers is pondering uses for blockchain technology. And virtual currency exchanges are promoting old-school ATMs as the key to broader bitcoin acceptance.
Go figure.
In case you missed any of these September headlines, here's the countdown:
5) Samsung Pay: The mobile wallet winner?
On a day when Google announced that it had started to roll out Android Pay to compatible devices in the U.S., payments industry executives gathered in Washington, D.C., for the ATM & Mobile Innovation Summit to discuss topics including the current mobile wallet market and its affect on the payments industry.
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4) Countdown to the EMV liability shift: Will the card brands blink?
In what is likely a heated internal battle, the card brand lawyers are almost certainly sounding the alarm about a slew of potential lawsuits and possible federal legislation related to the shift. At the same time, the finance folks are eager to begin shedding billions in fraud costs beginning on Oct. 1.
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3) Can ATMs move bitcoin into the mainstream?
Perhaps the biggest problem with virtual currency today is not that people don't understand bitcoin technology, but rather that they don't know about bitcoin to begin with. ... In order to draw in new users, the bitcoin community needs a familiar medium — such as an ATM — to provide an introduction.
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2) 'Mobile Wallets 101': Your guide to the future of cardless transactions
For FIs currently considering a mobile wallet rollout, Mobile Payments Today (a sister publication of ATM Marketplace) offers "Mobile Wallets 101," a free introductory guide to types and capabilities of mobile wallets. Following is an excerpt ...
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download the free guide
1) The chicken, the egg and the chip card
Depending on how you look at it, merchant and card issuer migration to EMV is either: a) a chicken-and-egg conundrum; or b) a Mexican standoff rivaling the cemetery scene in "The Good, The Bad and The Ugly."
Will small banks mail out chip cards at $5 or more a pop knowing that they'll be repeating the drill when some noncompliant retailer has a POS compromise? Will they keep doing what they've always done and eat the cost of card fraud until merchants get it together and migrate to EMV en masse? ...
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photos networld media group (AMIS), istock
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