|Limited ATM surcharge program launched|
Available through the NYCE Payments Network and AFFN, DOLLAR$TOP benefits not only consumers but also financial institutions and nonfinancial institution ATM deployers. Financial institutions benefit by offering a "no-surprise" convenience fee of just $1 to their cardholders, without the royalty fees often associated with surcharge-free programs or the escalating costs of proprietary surcharge-rebate policies.
Participating banks will not be required to make their ATMs part of the DOLLAR$TOP program, retaining 100% of proprietary ATM surcharge fee revenue. Financial institutions can roll out the turnkey DOLLAR$TOP program within 30 days of joining and enable immediate surcharge-fee savings for all of their customers.
Employing the slogan "Stop. Save. Go.," DOLLAR$TOP enables card issuers to offer their cardholders the benefit of ATM cash at thousands of participating convenient locations around the United States. without paying traditional multidollar convenience fees.
Payment Alliance International, Inc. ("PAI"), the largest processor of ATMs in the United States, is partnering with FIS on the initial rollout of the program through its nationwide network of more than 60,000 ATMs. "We believe that DOLLAR$TOP provides a unique alternative to expensive surcharge free programs," says Neil Marcous, president, NYCE Payments Network. "DOLLAR$TOP enables card issuers to offer a reasonable, predictable surcharge experience to their customers without requiring financial institutions to reduce their own ATM surcharge revenue. It can also reduce the growing expense of proprietary surcharge-rebate policies."
ATM owners and ISOs will benefit from DOLLAR$TOP by generating income through enhanced interchange and increased traffic on DOLLAR$TOP-branded ATMs.
Financial institutions participating in the limited-surcharge program will receive a comprehensive, complimentary toolkit to assist them with marketing the adoption of DOLLAR$TOP. The toolkit includes a web portal, a free mobile app available for iPhone or Android smartphones and tablets, print and online advertising templates, and consumer ATM locator services. All advertising materials can be customized with the financial institution's trade name and logo.
[Note: FIS works with ABA subsidiary Business Solutions for credit, debit, and merchant card processing. http://www.aba.com/BusinessSolutions/Pages/BSol_FIS.aspx]
[This article was posted on December 18, 2012, on the website of ABA Banking Journal, www.ababj.com.]
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