STRATEGIC PARTNERS
March 21, 2002
NEW YORK -- In its overall scheme to beef up its ATM program, American Express has signed a 5-year agreement with Affiliated Computer Services (ACS). to provide transaction processing for more than 400 retail-based automated teller machines (ATMs).
ACS will provide transaction processing for more than 400 retail-based ATMs as part of its agreement. ACS also agreed to provide turnkey services to American Express, which includes ATM installation, driving, monitoring, and maintenance of devices; vendor management services; transaction processing; cash management services, settlement transactions, and information management services.
With its new ATM locations, American Express intends to enhance its service delivery to customers and improve its business relationships with retail merchants. The new ATMs are located in high-traffic retail sites, such as Walgreens.
The deal represents American Express' intentions for continued growth of its existing ATM networks in an effort to enhance services to merchants and Cardmembers, said Eugene DeSilva, Vice President of New Business Ventures for American Express. "This agreement represents our fifth acquisition to date and brings our network to a total of 4,035 ATMs."
Since announcing in January that its ATM network had grown to nearly 300 machines, American Express purchased and deployed more than 700 additional ATMs during the first and second quarters of 1999. These ATMs are located in high traffic retail locations.
In the future, the agreement with American Express will be expanded to include processing for a significant number of ATMs already in the American Express network. Currently, ACS provides transaction processing and services for more than 16,000 ATMs throughout the United States.
