Innovus shifts focus from ATM to cards

Innovus shifts focus from ATM to cards
Tags: Bank / Credit Union, Debit / Credit, Distributors / ISO / IAD, North America, Other, Prepaid / Stored Value / Gift Card, Transaction Processing, Trends / Statistics
March 18, 2007

New Orleans City Business: Innovus Inc. is changing its focus from ATMs to stored-value cards. The company, formerly of New Orleans, began making the change after it relocated to Dallas, in the wake of Hurricane Katrina, but company chairman Michael Brown said the groundwork for the shift had already been laid. "We are de-emphasizing ATM services," Brown said. "It's declining. That business is transitioning more to debit so we're shrinking that account and placing emphasis on hospitality - hotels, travel and entertainment-type locations."