ARLINGTON, Va. -- E*TRADE Bank subsidiary E*TRADE Access has signed a multi-year agreement with Boston Communications Group, Inc. (Nasdaq: BCGI) to participate in bcgi's Distribution Partnership Program providing universal access to prepaid wireless airtime.
Through this agreement, E*TRADE and bcgi will create the ATM industry's first nationwide, end-to-end solution for wireless telephone account recharge, according to a news release.
This agreement is part of E*TRADE's effort to offer more functionality through its ATMs. The deal will also augment and diversify E*TRADE's revenue by increasing the number of transactions per ATM customer.
Using Mosaic Software's electronic funds transfer system, Postilion, and bcgi's XML Portal, E*TRADE will offer customers the flexibility to purchase wireless minutes in real-time using their ATM debit card. At the end of the transaction, the added funds will be immediately available, and the ATM will print a receipt with the subscriber's updated wireless balance and other relevant information maintained by bcgi's platform.
Following a pilot in the first half of 2002, a ramp up of deployment of the wireless account recharge functionality to E*TRADE ATMs is expected to continue over a 12-18 month period.
The bcgi Distribution Technology Partnership Program, established in 1999, provides bcgi's wireless carriers with the choice of multiple distribution vendors that offer account recharge through ATMs, point-of-sale applications, self-service vending machines and recharge via the Web.
"With prepaid being one of the highest growth segments of wireless and the advent of increased digital programs and enhanced features, the need for consumers to easily recharge their prepaid wireless accounts will be greater than ever. By offering E*TRADE ATMs as new points of distribution to our carriers, we are providing a widespread, secure, and convenient method for subscribers to recharge their prepaid accounts," said E.Y. Snowden, president and chief executive officer of bcgi.
