News

American Cash releases non-bank ATM PIN card

May 18, 2005

PENNINGTON, N.J. - American Cash Exchange Inc., which provides personal payment solutions for the international marketplace, released its ATM PIN during a promotion for its money transfer product, the Poni PIN Card.

According to a news release, the ATM network and Poni PIN cards allow international remitters living in the United States to purchase and transfer cash to Mexico. The recipient in Mexico can then use the Poni Card to withdraw Peso transfers from more than 20,000 ATMs in the country.

No bank account is required to transfer the funds. ACE is the only non-bank, non-credit-card company authorizing withdrawals from the Mexican ATM network. Poni also is the first international transfer-product to offer a published interbank exchange rate.

The card transfers are sold like phone cards in retail locations in Las Vegas, Phoenix, Tucson and Chicago, and are expected to be sold in California, New Jersey, New York and Texas. Instead of minutes, however, customers buy pre-determined peso amounts.