News

Genpass is latest to join effort to add prepaid phone top-ups to ATMs

March 6, 2003

LEAWOOD, Kan. -- Euronet Worldwide, Inc. (Nasdaq: EEFT), has signed a PaySpot processing agreement with Genpass, Inc., one of the largest EFT processors in the U.S. Genpass will support PaySpot transactions through its ATM processing center and will market PaySpot services to its ATM clients, including ISOs and financial institutions.

Genpass manages EFT services for more than 1,000 clients.

According to a news release, PaySpot is a recharge services program that enables consumers to purchase prepaid wireless airtime and long-distance calling plans from ATMs. Consumers can go to ATMs to recharge prepaid wireless accounts from all major wireless carriers including Verizon Wireless, AT&T Wireless, Cingular Wireless, T-Mobile and ALLTEL, as well as approximately 25 other regional wireless carriers.

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Additionally, consumers can select from 10 different prepaid long-distance calling plans for calls within the U.S., calls to Mexico and international calls.

In addition to Genpass, which drives more than 24,000 ATMs throughout the U.S. and processes over 360 million annual transactions, other partners in the PaySpot program include transaction processor Concord EFS and ATM manufacturers Tidel, Triton and Wincor Nixdorf.Euronet has also signed agreements with a dozen ISOs, which plan to offer prepaid phone top-ups at their ATMs later this year.

"Genpass is positioned to quickly respond to requests from our clients for value-added services including products such as wireless recharge," said Gary Staub, Genpass executive vice president and chief marketing officer, in the release. "We are pleased to add PaySpot as an additional revenue-generating opportunity to our clients -- ATM owners, financial institutions and ISOs."