STRATEGIC PARTNERS
February 14, 2002
WOBURN, Mass. -- Boston Communications Group, Inc. (Nasdaq: BCGI), a provider of prepaid services to wireless carriers in the U.S., has signed a Memorandum of Understanding with iATMglobal, a developer of software that enables e-commerce transactions to be performed over ATM networks, to integrate its transaction processing platform with iATMglobal's software.
Both companies expect to begin a rollout of ATMs with prepaid wireless recharge in early 2001. When this technology is integrated, prepaid wireless subscribers will be able to purchase airtime at participating ATM machines nationwide. According to The Yankee Group, a Boston-based research firm, the number of prepaid wireless subscribers is expected to grow to 34 million by 2003.
"Our goal is to expand the accessibility of our distribution network, thereby making prepaid wireless recharge considerably more convenient and attractive to consumers," said E.Y. Snowden, BCGI's president and CEO. "iATMglobal's technology allows BCGI to quickly and cost-effectively introduce the ATM as a convenient recharge location while creating a new revenue stream to be shared by BCGI, iATMglobal, wireless carriers and the individual ATM owners."
In addition to providing an outlet for prepaid wireless recharge, the companies say their combined technologies will allow wireless carriers to execute targeted marketing campaigns.
