SAB Recent Developments
NYCE'S SUM program expands surcharge-free atm access with Select-a-Branch agreement
SECAUCUS, N.J. | Sept. 25, 2009 - NYCE today announced it has signed an agreement with Select-a-Branch (SAB), giving participants in NYCE's SUM® selective ATM surcharging program access to select terminals in SAB's growing network of surcharge-free ATMs. NYCE Payments Network, LLC, is a leading U.S. electronic payments network and a Metavante (NYSE:MV) company. Metavante is a leading provider of banking and payments technology. Select-a-Branch ATM Network, LLC, operates an independent network of advanced-function ATMs.
The SUM Program allows cardholders of participating financial institutions to make surcharge-free ATM withdrawals at the designated terminals of other program members. SAB plans to implement the SUM Program at ATM locations across the Northeast, with rollout beginning immediately and continuing throughout 2009. SAB will brand transactions made at these terminals using its proprietary technology. SUM cardholders will see transaction screens branded with the program's logo and messaging. SAB ATMs also feature a 19-inch monitor mounted above the terminal that will run SUM advertisements when the program's cardholders use the ATMs. "We expect the visibility and recognition of the SUM brand to help drive consumer traffic to these locations," said Michael Tedesco, executive vice president, Financial Services, SAB. "Using SAB's technology, NYCE now has the ability to link the SUM brand to the actual transaction, representing a step forward in how SUM cardholders recognize the service."
"This agreement with SAB reflects our ongoing commitment to expand the SUM Program with more surcharge-free ATMs in convenient locations," said Steve Rathgaber, president, NYCE. "The program is a flexible way for banks and credit unions to grow their geographic footprint in ways that support their growth goals and meet the needs of their individual markets."
The SUM Program's unique structure is primarily based on usage. Participating institutions also may select the ATMs they wish to include in the program, making it a cost-effective option that allows banks and credit unions to retain control over their own surcharging revenue.
About NYCE
NYCE Payments Network, LLC, a Metavante company, helps its clients grow with innovative new products and strategic alliances that enable them to capitalize on the efficiency, consumer convenience and security of electronic real-time payments. The NYCE Network provides consumers with secure, real-time access to their money, offering hundreds of thousands of ATM locations and millions of point-of-sale locations nationwide. The NYCE Direct Bill Payment service offers cardholders a convenient way to pay bills online in real-time using their deposit accounts. NYCE Balance Transfer services drive asset growth for consumer credit issuers through automated balance transfer/consolidation payment services. Headquartered in Secaucus, N.J., NYCE Payments Network, LLC, (www.nyce.net) is a wholly owned subsidiary of Metavante (NYSE:MV).
Metavante and NYCE are registered trademarks of Metavante Corporation, which is the principal subsidiary of Metavante Technologies, Inc.
About Select-A-Branch
SAB is an ATM Independent Service Operator that seeks to grow its network in high-traffic locations. SAB's patent pending ATM Software Solution allows banks and credit unions to deliver a branded, surcharge-free ATM transaction to any of its customers/members at any SAB ATM, resulting in increased patronage and customer satisfaction.
Launched in 2006, SAB has offices in King of Prussia, Pa.