The speed and magnitude of the recent changes seen in major Western ATM markets cannot be overstated. It will likely be the ability to quickly adapt — or not — that will determine the winners and the losers among independent ATM deployers.
"Check rejected for technical reasons," the screen said. What? I had endorsed it correctly and it all looked good, but rejected? Not even accepted and flagged as "pending!"
At Money 20/20 this week, Visa EVP Oliver Jenkyn mapped out growth opportunities that push money the other way — that is, toward the consumer — across the network's rails. It's a scenario that can mean a bigger slice of the pie for the ATM industry, too.
Is the mobile wallet movement toast? A new study concludes that consumers and merchants might just be taking a break from adopting the technology while they wait for mobile wallet proponents to solve issues involving security and ease of use.
Today, there might be 2,000 or more communities in the U.K. — real places, with real people trying to live their daily lives — without any meaningful local financial services touch points. And the situation is only likely to get worse. So, what is the answer?
As easy as it might be to perceive a yawning divide between mobile banking and more traditional, physical banking at the branch and ATM, it's becoming increasingly clear that these channels can function in harmony and complement one another.
If you are an IAD or ISO with processing agreements currently in force for independently owned, EMV-noncompliant ATM locations, the $64,000 chargeback question is ... "What are you going to do?"
Increasing numbers of financial institutions are trading in their transactional hub-and-spoke branch networks for technology-enabled, consumer-centric financial centers. Here's how one recognized expert sees the current landscape in branch transformation.
With less than a month to go before the VISA ATM liability shift deadline, you might expect a frantic, last-ditch effort by ATM operators to get their machines EMV-ready. But you would be wrong.
Nearly 200,000 merchant-owned ATMs will not be EMV capable by the October Visa ATM liability shift deadline. So how does this movie end? While there are a number of possibilities, nearly all of them are opportunities for IADs who prepare now.
It takes so many extra steps now to get cash from an ATM. The interrogation lasts for several screens as we are prompted for this and that. But at the height of summer in the American Southwest, spending extra time under the blazing sun isn't fostering good customer relations at the ATM.
The United States can now boast of having half a million ATMs (three-quarters of them independently operated) reliably serving citizens all over the nation — despite nearly constant assault from confused regulators, politicians and pundits.
In the ATM business, as in the music business, success is about finding the right group of people to work with and thinking creatively with them in order to solve problems.
And the sixth reason: "Change takes a much longer time coming than you think, and then it happens much faster than you would have thought." It's happening right now for you and your banking customers and BCX is the place to learn how to manage it.
FIs need to find a way to create and maintain meaningful relationships with customers. While that might sound like something out of the cliché handbook, it's a real problem that traditional providers continue to tackle without resounding success.
In the mid-nineties, ATM operator North American Cash Systems realized that their cash situation was completely out of control. Software seemed the obvious answer, but where to get programmers? That's when inspiration struck ...
Who are the Galacticos? Only the leading figures in the payments industry who came together for the ATM Industry Association's dazzling new European event — ATM & Cash Innovation Europe 2017.
Amazon continues to provide a high-level example of catering to customers. By studying their methods, ATM companies can pinpoint the practices that have led to Amazon's success — and model those practices in their own business.
The bell has rung on the latest round of the Diebold-Hyosung patent matchup. The contenders have retreated to their corners with gloves raised in victory, but so far the punch stats are pretty close to 50-50.
Initially hailed as innovative, it appears that Visa's 'war on cash' is in reality a war on merchant profitability and customer payment choice. However, a 'war on plastic' is a promising business case that could actually be sold to merchants.