JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS Cardless Cash®, the market-leading mobile solution that avoids using a plastic card at the ATM to withdraw funds, will expand across the United States thanks to a new partnership between FIS™ (NYSE:FIS), a global leader in financial services technology, and Payment Alliance International (PAI), the nation’s largest, privately-held provider of ATM processing and maintenance services, ATM equipment sales and support.
The partnership connects FIS Cardless Cash with PAI and brings mobile access to ATMs located at many of the nation’s largest retailers, gas stations, convenience stores and more. The deal will ultimately expand to 70,000 ATMs in the PAI ATM network.
“Our partnership with PAI extends FIS’ leadership to the largest Cardless Cash ecosystem, and will benefit both banks and their customers,” said Anthony Jabbour, chief operating officer, Banking & Payments, FIS. “Our Cardless Cash product combines innovation and efficiency with consumer convenience and security. For banks, it’s a new revenue source and this widespread network should facilitate customer adoption.”
FIS Cardless Cash protects consumers by reducing risk of card skimming and shoulder surfing, both of which are on the rise at ATMs, according to industry data. By leveraging FIS Mobile Banking with TouchID, customers securely access their funds and authorize the amount they want without inserting a plastic card into an ATM. The mobile banking app acts as a remote control for the ATM, providing unparalleled privacy and security for consumers. Customers using FIS Cardless Cash can complete their withdrawals in 10 seconds and get an electronic receipt on their smartphone.
“Our clients are always looking for ways to improve their offerings, drive more revenue and surpass customers’ expectations,” said John J. Leehy, III, president and chief executive officer of Payment Alliance International. “This partnership brings the latest in transaction security to the PAI ATM network, while enhancing customer convenience and improving their overall ATM experience.”
“Adding retail ATM locations to our Cardless Cash ecosystem brings the best in convenient access to customers,” said Douglas Brown, SVP and GM of FIS Mobile. “We want to make mobile-centric access to cash a ubiquitous experience.”
This agreement makes NYCE the first national payment network to support mobile phone-to-ATM transactions. FIS Cardless Cash is an interoperable platform for banks, ATM operators and networks to provide consumers with access to their money anywhere they want it. Launched in Jan. 2015, 34 banks are active on it, in multiple cities, and have successfully processed millions of dollars in cardless ATM transactions since launch.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 55,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
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About Payment Alliance International
Payment Alliance International (PAI) is the nation’s largest privately-held provider of ATMs and provides processing and maintenance services, ATM equipment sales and support, as well as ATM branding programs. PAI also offers comprehensive payment and small business solutions including credit, debit and prepaid card acceptance services in retail locations, online or on-the-go using mobile devices…all designed to maximize customer success and make business easy. Payment Alliance International is based in Louisville, Ky. For more information, please visit www.GoPAI.com or follow us on Facebook (facebook.com/paymentalliance) and Twitter (@paymentalliance).
Forward-Looking Statements
This press release may contain statements, estimates or projections that constitute “forward-looking statements” pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from FIS’ historical experience and our present expectations or projections. These risks include, but are not limited to, changes in general economic, business and political conditions, developmental and conversion delays or disruptions inherent with new software products and technology, and risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in or new laws or regulations affecting the banking, retail and financial services industries, changes in the growth rates of the markets for our solutions, and other risks detailed in our filings with the Securities and Exchange Commission (SEC), including the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2015, and subsequent SEC filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. FIS undertakes no obligation to publicly update or revise any forward-looking statements.
