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Articles by atm Atom
Cash is not dead
Contrary to the desires of Visa and PayPal, cash payments remain a vital segment of retail purchases. Although a smaller percentage of transactions than card transactions overall, cash still accounts for $2.2 trillion of the $10 trillion in sales in the U.S., according to L.E.K. Consulting, and are expected to remain so indefinitely. The amount of cash in circulation is now $1.6 trillion and the Federal Reserve predicts it will continue to grow at the rate of four to six percent per year.
Back to the future
In the beginning was the bank ATM. This through-the-wall ATM dispensed cash to any customer with a card, a PIN, and available funds. This basic ATM was the very essence of disruptive technology, facilitating the closure of tens of thousands of bank branches around the world, and taking countless bank teller jobs with them. Customers rejoiced at their newfound avoidance of the teller queue. Bankers were thrilled as branch operating costs were slashed.
The great Windows ripoff
In what may be the most under-reported ATM story of 2019, a growing number of financial institutions are making the decision to walk away from PC-based Windows ATMs. Others are questioning the wisdom of continuing to spend heavy capital on an ATM platform which appears to be headed for extinction. This widespread change in ATM buying patterns is a threat to manufacturers and deployers alike, yet has thus far flown largely under the radar.
Triton, security and Windows™
Triton understands how incredibly important security is to your business, so we make it our business to ensure that Triton ATMs have the best security possible. Increased risks make it difficult for the industry to stay ahead of the criminal element. Therefore, we would like to take a moment to review our on-going commitment to keeping Triton ATMs safe.
A customer's perspective: It's time to slay a few of banking's sacred cows
May 30, 2019 | by atm Atom by Daryl Cornell, CEO, Triton Systems We are in the midst of what appears to be a global revolution in banking. Pity the poor financial institution CEO, struggling to make strategic decisions in critical areas such as branch transformation, staffing, security and ever costlier ATM infrastructure. As if this weren't enough, now hordes of fintech startups are threatening to poach the next generation of customers. What is a bank to do?
Windows 10 ATM migration: The breaking point for banks?
April 12, 2019 | by atm Atom by Daryl Cornell, CEO, Triton Systems The wave of sticker shock and nausea is growing as financial institutions are now receiving their Windows 10 pricing from ATM vendors. Core upgrades, ATM rip-and-replace, service calls, OEM maintenance licenses and organizational disruption — big expense without a single dollar in additional revenue. Oh, and you'd better hurry up and commit to a Win10 upgrade now because lead times on those new Win10 ATMs is six months and growing.
Fearless Forecast: The ATM industry in 2019
COMMENTARY Jan. 11, 2019 | by atm Atom by Daryl Cornell, CEO, Triton As has been true every year, our predictions will likely prove to be off the mark, highly questionable or just plain wrong. And yet, we will prognosticate again this year, on the off chance that we do manage to land a few correct guesses. Here is where we see the ATM industry headed in 2019. Contactless ATM and payment transactions will gain traction.
Breaking Windows: Why FIs are abandoning the longtime OS for ATMs
By Daryl Cornell, CEO, Triton In what might be the most underreported story of 2018 in the ATM industry, a growing number of financial institutions are making the decision to simply walk away from Windows-based ATMs. Others are questioning the wisdom of continuing to spend capital on an ATM platform that appears to be headed for extinction. This tidal change in ATM buying patterns is a major threat to manufacturers and deployers alike, yet it has received scant attention in the press.
Back to the future: An argument for the 'retro' bank ATM
In the beginning was the bank ATM. This through-the-wall machine dispensed cash to any customer with a card, a PIN and available funds. This basic ATM was the very essence of disruptive technology, facilitating the closure of tens of thousands of bank branches around the world, and taking countless bank teller jobs with them. Customers rejoiced at their newfound freedom from the teller queue. Bankers were thrilled as branch operating costs were slashed.
4 ways FIs are fighting ATM upgrade fatigue
In less than 24 months, banks face yet another ATM upgrade/ replacement cycle when Windows 7 goes end of life, to be replaced by Windows 10. This comes on the heels of a Windows 7 upgrade from Windows XP which in some cases is still being completed. It also follows required ATM upgrades for PCI, ADA and EMV, all in the last decade. Can you blame the banks for feeling confused, angry and abused when it comes to their ATMs?
1 simple solution that makes merchant cash management a snap
by Sam Bosch, President and CEO, Peregrin Financial Technologies Contrary to the wishes of Visa and PayPal, cash payments remain a vital segment of retail purchases. Although a smaller percentage of transactions than card transactions overall, cash still accounts for $2.2 trillion of the $10 trillion in sales in the U.S., according to L.E.K. Consulting, and are expected to remain so indefinitely.
1 simple way to make merchant cash management a snap
by Sam Bosch, President and CEO, Peregrin Financial Technologies Contrary to the wishes of Visa and PayPal, cash payments remain a vital segment of retail purchases. Although it represents a smaller percentage of transactions than card transactions overall, cash still accounts for $2.2 trillion of $10 trillion in sales in the U.S., according to L.E.K. Consulting, and it is expected to remain a significant part of the payments picture indefinitely.
Made in China: Implications for ATMs?
In a surprise announcement last week, the Pentagon ordered retail outlets on U.S. Military bases around the world to stop selling Huawei and ZTE mobile phones. The Wall Street Journalreported that the Pentagon issued its directive on the sale of these Chinese-made phones due to the potential security threats the devices could pose. However, this action also happens to coincide with heavy pressure that the U.S. is putting on China to renegotiate historically one-sided trade deals.
Free trade is a 2-way street
Free trade is a good thing. Two-way free trade, that is. Economics 101 and the law of comparative advantage tell us that each country and economy has a unique set of resources and skills that should determine what gets produced. Through two-way, free trade, countries are better off producing things at lower opportunity costs and trading fairly for other goods.
5 reasons to be bullish on Cardtronics
One of the advantages of being a public company is the ability to issue and sell shares to raise capital. On the flip side, the SEC requires you to confess annually to the world in gory detail all of your hopes, fears, successes and failures. Whether by accident or by design, these opaque annual reports (10-Ks in SEC-speak) come cloaked in sheer volume, legalese and 1-point type, making it likely that only the hardiest of souls ever take the time to plow through them.
What a washing machine trade war might mean for ATMs
In what may be just the first shot across the bow, President Trump recently enacted tariffs of 20–50 percent on washing machines sold in the U.S. by Samsung and LG, two companies based in South Korea. These tariffs were enacted on the recommendation of the U.S. International Trade Commission, following allegations by Whirlpool that Samsung and LG were "dumping" washing machines into the U.S. at prices below those in their own country in order to gain market share.
Supreme injustice?
Last Friday the Supreme Court agreed to hear a case arguing that states can require internet retailers to collect sales taxes regardless of physical location. This is a Big Deal for the ATM industry. Triton and ATMGurus believe that the Supreme Court should not side with the states — but not for the reasons you might think. We also believe that readers should be aware of the other side of the story, which is not being told.
ATM forecasts and fortunes for 2018
As has been true every year, our predictions will likely prove to be off the mark, highly questionable or just plain wrong. And yet, we will prognosticate again this year, on the off chance that we do manage to land a few correct guesses. Here is where we see the ATM industry headed in 2018. The U.S. ATM industry will reach full saturation With nearly half a million ATMs operating in the U.S., it sometimes seems that there really is one on every corner.
'Gimme shelter': A tale of cyberwar, bank panic and ATM cash
Depositors gather in the rain outside Bank of United States after its failure in 1931. (photo, Library of Congress) Imagine for a moment that North Korea or some other rogue state successfully launches a cyberattack against a small or medium-size U.S. bank. As a result of the hack, bank records are scrambled or frozen and customers of that bank no longer have access to their money. The number of victims immediately involved totals only tens of thousands.
The ATM world is in for a seismic shift ... Are you ready?
In what looks like a unique confluence of events, seismic changes in the ATM landscapes of Australia and the U.K. — and the ongoing EMV upheaval in the U.S. — will likely mean a tectonic shift in the global retail ATM industry.
The whats and whys of EMV noncompliance at merchant-owned ATMs
Even in October 2017, after the so-called Visa liability shift, I have continued to read in numerous publications that the vast majority of merchant-owned ATMs — approximately 200,000 in all — are not EMV compliant. I recently noted in reading another publication that the vast majority of gas stations have yet to switch their fuel pumps to be EMV compliant, as well.
As 'ATM-ageddon' looms, what do we hear? Crickets
Less than a month before the VISA ATM liability shift deadline, you would think we would be in the midst of a frantic, last-ditch effort to upgrade or replace all remaining non-EMV ATMs. Well, you would be wrong. Instead, we hear crickets. To be clear, we are talking about another 75 percent of all ATM transactions which will be at risk for fraud chargebacks in less than a month (MasterCard's 25 percent share of ATM transactions has been at risk for nearly a year). So why the lethargy here?
Like shooting fish in a barrel: How to land merchant ATM sites after EMV
Winning merchant sites is HARD. Most of these folks are savvy, ruthless negotiators who will squeeze all of the profitability out of an ATM site contract even if you are "lucky enough" to win a site. At most locations, IADs aren't generating enough profit to upgrade these terminals to EMV. Merchants, meanwhile, continue to play "wait and see" to evaluate whether the chargeback risk will be worth the ATM upgrade cost.
Half a million strong: A salute to the much-maligned ATM
Just last week, the ATM Industry Association reported that 500,000 automated teller machines have now been deployed in the United States. Given that the number of bank ATMs in the U.S. has remained relatively flat at an estimated 125,000 terminals, the ATMIA figure means that 375,000 independently owned "white label" ATMs are operating in the United States today.
The war on plastic
Last week, the Wall Street Journal reported on Visa's bold new "war on cash" program. In exchange for up to $10,000 in upgraded POS hardware, merchants would agree to ban the use of cash to pay for goods and services Visa CEO Al Kelly didn't mince words when he boasted, "We're focused on putting cash out of business." Well of course he is.
A vanishing breed? EMV and the retail ATM
More than 100,000 retail ATMs gone, shuttered, inoperable. Customers forced to return to bank ATMs, some of which might soon allow access only to their own customers. At bank counters, long lines of impatient customers wanting access to their own cash. What is it that could force a contraction of up to 25 percent of all U.S. ATMs as early as six months from now? The stars are aligned and the tectonic plates are shifting beneath the cash access landscape.
Is the UK losing cash access?
A newly imposed property tax on ATMs in the U.K. has come under fire.
Why consumers still love cash
Studies consistently show the hype about the decline of cash to be inaccurate and wildly overstated. Despite continuing growth in alternative payment options, consumers still rely on cash as their primary form of payment for gifts, food, personal care, automotive, entertainment and transportation services. But, with so many "more convenient" options available, why do people continue to rely on hard currency?
Never mind what you heard; millennials use cash
You have probably seen headlines declaring something like, "Young Americans Hate Cash." However, the truth is quite the opposite. Millennials use more cash than anyone else. According to the Federal Reserve Bank of San Francisco's 2015 Diary of Consumer Payment Choice, released Nov. 3, Americans between the ages of 18 and 24 used cash in 38 percent of all payment transactions last year.
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