News

Innobeta, NexTran support top-ups at ATM

July 8, 2003

Summarize with

LEAWOOD, Kan. -- ATM processor Innobeta and ATM manufacturer NexTran have joined Euronet Worldwide's (Nasdaq: EEFT), PaySpot program, which allows consumers to purchase prepaid wireless airtime and long-distance calling plans from ATMs and point-of-sale terminals.

(See related stories Ring a ding dingand Top-ups at ATM move into market)

PaySpot allows consumers to go to ATMs at participating locations such as convenience stores to top-up prepaid wireless accounts. Consumers follow the commands on the ATM screen, selecting the wireless carrier and the amount of airtime they want to purchase, and entering their wireless phone number.

The program processes PIN-based debit/credit card transactions at the ATM, and immediately credits consumers' prepaid accounts. PaySpot at the ATM does not require any cards or special inventory. Cash-based purchases using a POS terminal are also accepted at PaySpot locations.

According to a news release, all major wireless carriers as well as more than 20 other regional wireless carriers participate in PaySpot, according to the release. Additionally, consumers can select from 10 different prepaid long-distance calling plans for calls within the U.S., calls to Mexico and international calls.

"Our clients rely on our processing services to provide the latest in high value transactions, and PaySpot's pay-as-you-go products offer great revenue opportunities," said Eric Park, Innobeta's chief financial officer, in the release. "The PaySpot program offers consumer convenience within the growing popularity of prepaid top-up transactions, which promotes more traffic for our ATM clients."

NexTran ATMs are installed in all major U.S markets, including New York, Los Angeles, Chicago, Atlanta and Washington, D.C., according to the release.

"PaySpot allows us to provide added value at the ATM by offering more convenience options that attract consumers," said Tony Park, NexTran chief financial officer.

In addition to Innobeta and NexTran, PaySpot services are supported by several ATM processors, including Concord EFS and Genpass; ATM manufacturers such as Triton and Tidel; and more than 20 ISOs, including FTI, The Bailey Group and Welch Systems.

According to the Yankee Group, approximately 12 percent of all wireless subscribers were prepaid subscribers at the end of 2001. Yankee Group predicts that this number will exceed 30 percent by the end of 2006.