In order for your ATM business to flourish, you will need to partner with the right ATM processor. An ATM processor serves as the communication between your machine and the banking networks so users can remove and insert their funds.
It has never been more important to manage your ATM fleet to offer best-in-class support for your customers. The continued growth of omni-channel banking means there are multiple ways for potential clients to interact with their banks daily, and selecting to interact with their bank via your ATM machine is a choice. Your goal, as the business owner, should therefore be to make the customer’s choice to interact with your machine as seamless and simple as possible.
Nacha is continuing to crack down on auditing for all Third-Party Service Providers and Third-Party Senders. In order to remain in compliance, these entities must conduct an audit of compliance by December 31, 2020. Many myths surround the Nacha audit, and at EFX, we are working to dispel them to help our clients.
Did you know that recent changes to Nacha Operating Rules require that all Third-Party service providers and Third-Party Senders must conduct an audit of compliance by December 31, 2020? If you are unsure of the new rules, how to remain in compliance, or need guidance navigating your annual audit, EFX may be able to help by recommending an accredited auditing firm.
There are almost 500,000 ATMs in the United States, and less than half of those are owned by national banks. The majority are owned independently. With very little overhead costs, an independent ATM business can be a lucrative endeavor. In fact, ATMs can offer an earning potential of thousands of dollars a month.
2019 could potentially be the worst year on record for data breaches, according to a recent report from Risk Based Security Inc., an analytics and consulting firm out of Richmond, Virginia specializing in data protection. Hacking continues to be the main source for data breaches, accounting for 82 percent of all reported breaches in the first half of 2019.
Recent news surrounding the closing of top payroll processors has the industry spinning. If you are one of the many payroll Service Bureaus, PEOs, ASOs, or ancillary service providers that have been struggling to find a reliable payroll and direct deposit solution to meet your needs, EFX may have a solution for you.
Many Independent ATM Deployers (IADs) and Independent Sales Organizations (ISOs) have reportedly felt the turmoil and uncertainty that has accompanied the multitude of recent processor mergers and buyouts. Undoubtedly, these shifts have left many IADs and ISOs scrambling to find needed support. From simple transaction issues to new online systems, the changes can be overwhelming.
ATM jackpotting, a common offense overseas, is a sophisticated crime in which thieves install hardware or software at ATMs that force the machines to eject large sums of cash on demand, has recently made its way to American soil.
