ATMIA CONFERENCE UPDATE
I just returned from the ATMIA Conference in Orlando that was held February 14-16, 2017. Here are some topics I thought you may find interesting.
EMV
Major processors have started to get fraud claims and pass them on to machine owners. PLEASE COMPLETE YOUR EMV UPGRADES. “Friendly fraud” is a big challenge. A customer can dispute a transaction at a non-EMV terminal even if you know their name. Friendly fraudsters are hitting accounts in smaller amounts but more frequently. $200 at a time can add up quickly. Remember – completing an EMV upgrade means installing the hardware and activating the software.
Operation Choke Point
Under President Trump, enforcement will cease. However, some banks are not aware or are just cutting off ATM/Amusement business anyway. If you run into a bank that is cutting you off, please email me at dan.lieberman@liebermancompanies.com. I will forward info to both the ATMIA and NAC lobbyists. The lobbyists are alerting the Feds to bad behavior by banks and helping to reeducate them.
Cardless ATM Transactions (Using Cell Phone)
Some bank-owned ATMs are introducing cardless transactions now. We will keep an eye on it. There are several different technologies and not all require hardware upgrades.
Cash
I saw several presentations that show cash is here to stay, although may decline slowly. Millennials use cash at a higher percentage (38%) than any other age group. Cash is also used more by lower income households and for smaller transactions. Apple Pay and mobile wallets represent a very small percentage of transactions. Also certain transactions are more appropriate or required for cash such as pull tabs, gaming, etc. View a study on cash by the SF Federal Reserve.
Surcharge
Surcharge is at $3.00 in most major markets and over $3.00 in some. Good time to review all of your charges and adjust if there is an opportunity to increase surcharge.
Questions? Contact Molly at 952-887-5285 or Trina at 952-887-5232. We appreciate meeting your ATM needs and thank you for your business.
Written by Dan Lieberman, Lieberman Companies