News

Genpass, Paymentech partner on offering for community banks

November 9, 2003

IRVING, Texas - Genpass has signed an agreement with Dallas-based electronic payment processor Paymentech.

According to a news release, the alliance will bring a one-stop payments solution for community banks across the United States and enables both companies to deliver a more comprehensive payment solution to banks.

Genpass will facilitate ATM transactions and issue debit cards to Paymentech's bank customers. Kevin Sisk, group executive of Paymentech's Financial Institutions Management, said in the release that the addition of those products will allow his company to offer issuance, merchant acquiring, ATM/debit, prepaid and electronic bill payment.

"Essentially, we're leveraging each company's strengths," said Karl Asplund, senior vice president for Business Development at Genpass. "Genpass offers community banks access to our network of automated teller machines, as well as our debit cards. Now we can also give them access to Paymentech's leadership as one of the nation's largest electronic payment processors."

"This alliance leverages our collective portfolio strengths, including geographic coverage, complementary product sets and respective industry leadership, to deliver a holistic solution to our constituencies," said Kerry A. Kodatt, Paymentech's group executive of Corporate Alliances, in the release.