KING OF PRUSSIA, Pa. — Select-A-Branch ATM Network LLC has installed 10 of its ATMs at commuter-rail stations in and around Boston.
The contract was awarded by the Massachusetts Bay Transit Authority.
"The MBTA is dedicated to providing a positive, affordable transportation experience to its riders," said Chris Geiger, executive vice president of sales for S-A-B. "And the S-A-B business model allows the MBTA to reach outside of the single-bank paradigm to please a larger audience. As of today, S-A-B has 16 participant financial institutions, including TD Bank."
According to a news release, S-A-B ATMs are equipped with patent-pending software that allows multiple FIs to deliver branded transactions and ad campaigns through each ATM. When the cardholder of a participating institution swipes his card at any S-A-B ATM, he is instantly presented with transaction screens branded with the logo, colors and marketing messages of his FI. The surcharge is applied to the FI, resulting in a free transaction for the cardholder.
The benefits to the MBTA are twofold. First, as more banks and credit unions join S-A-B, an increasing number of card holders will enjoy finding surcharge-free transactions at the MBTA locations. Second, S-A-B provides an increased revenue stream to the MBTA.
