MINNEAPOLIS--(BUSINESS WIRE)--MoneyPass, known for its nationwide network of surcharge-free ATMs, has added PIN POS capabilities to the menu of services it offers its financial institution clients.
Financial institutions already turn to MoneyPass to give their customers access to a broader network of surcharge-free ATMs – 22,000 nationwide – and now they can turn to MoneyPass to provide their customers with cards that have a PIN POS network affiliation. The new service may fill a gap for financial institutions that did not have more than one network affiliation, as will be required by regulation as of April 1, 2012.
“MoneyPass has one of the fastest-growing surcharge-free ATM networks in the county, and now by offering PIN POS it broadens our reach into the electronic funds transfer industry,” said Doug Miraglia, president of MoneyPass. “The MoneyPass brand is strong and ready to grow into new areas, so PIN POS is a natural extension of the brand.”
Financial institutions that use Elan Financial Services for their debit processing, can now choose to participate in MoneyPass PIN POS service, MoneyPass surcharge-free ATM service or both. MoneyPass PIN POS offers financial institutions an easy and inexpensive way to provide a better experience for their customers. MoneyPass offers low costs, requires no long term contract, and gives the financial institution a way to generate additional income.
“The key benefit for MoneyPass cardholders has always been convenience,” Miraglia said. “The new MoneyPass PIN POS service will continue to live up to that promise with industry leading merchant acceptance. MoneyPass PIN POS cards will be accepted at over 13 million merchants globally and nearly two million in the United States.”
Miraglia says PIN POS is a feature that many financial institution clients indicated was needed. “With little effort and minimal expense, they may be able to satisfy the exclusivity requirement of the Durbin Amendment with a partner they already know and trust. Financial institutions that are not MoneyPass clients now may take a second look and realize we can give them more benefits than ever. The addition of PIN POS separates us from our competitors,” he said.
MoneyPass is a network of Elan Financial Services, one of the nation’s leading providers of comprehensive ATM and debit card processing solutions for financial institutions, Independent Sales Organizations (ISOs), and retailers. MoneyPass provides surcharge-free access at more than 22,000 ATMs across the United States, allowing cardholders of participating financial institutions to access their money where they live, work and travel. With more than 1,400 participating financial institutions, more than 20 participating ISOs, and 60 million active cards, MoneyPass is a rapidly growing surcharge-free network whose emphasis is on cost-efficient membership options, flexible terms and accessible locations. MoneyPass cardholders can easily locate MoneyPass ATMs by visiting the online ATM locator at www.moneypass.com. For more information, call 1-800-343-7064 or visit www.moneypass.com.