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3 Ways Financial Institutions Can Use Event ATMs to Increase Brand Awareness

By Yonas Marcos

Branding is about much more than just a company logo; it is about communication with consumers and the surrounding community. Brand reflects how we differentiate from competitors and startups. Consequently, brand awareness is one of the most vital points of marketing strategy. According to research, consumers that recognize a brand are more likely to see it as a familiar, dependable, safe option.

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Consumers Can Now Purchase Bitcoin at ATMs

October 15 — Boston, Ma.-based LibertyX and Genmega, Hayward, Calif., announced the launch of America’s first debit Bitcoin ATM. Consumers using these ATMs can use their debit cards to purchase Bitcoin at up to 100,000 ATMs in the U.S. Through this partnership, any Genmega ATM can enable the LibertyX capability and start selling Bitcoin to consumers via a simple update process.

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U.S. Bancorp Will Sell Third-Party ATM and Debit Servicing Business

September 25 — Minneapolis, Minn.-based U.S. Bancorp announced that is has agreed to sell its third-party ATM and debit servicing business, part of the company’s Elan Financial Services unit, to Fiserv Inc., for approximately $690 million. The sale includes business assets and a debit card processing network previously acquired by the company. U.S. Bancorp made the decision to sell this portion of the business, which also operated as Elan ATM and Debit Processing, following a strategic review of the business unit.

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Increasingly, Consumers Are Moving Away from Cash

September 18 — Recent analysis by CivicScience, the Federal Reserve and Forrester, plus data from Ally Bank, shows consumers are turning to debit cards, credit cards and mobile wallet more frequently than ever before. In fact, three in four Ally customers polled said they primarily use a credit card when purchasing goods and services in stores. Fewer than one in 10 Ally customers indicate their primary form of payment is cash.

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Consumers Are Warming up to a Customized ATM Experience

London, U.K. // www.rbrlondon.com

While most ATM transactions are still done the old fashioned way — card + PIN — advanced software platforms exist that support a wider range of technologies and options. Increasingly, consumers are showing interest in near field communication and contactless transactions as well as QR codes and pre-staged transactions. (The latter is initiated via a mobile device and completed at the ATM.) Mobile transactions via Bluetooth and one-time codes have not taken off yet, but research from London-based consulting firm RBR shows they may soon.

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