Cardtronics, Inc. (CATM), the world's largest retail ATM owner, today announced a licensing agreement with BBVA Compass, providing the bank branding rights to more than 300 ATMs in H-E-B stores across Texas.
The move equates to a nearly 50 percent increase of the bank's statewide ATM network, bringing its total to nearly 1,000 machines.
"This agreement provides us an opportunity to deliver convenient banking options for H-E-B shoppers and BBVA Compass customers alike," said Gabriel Palafox, director of multichannel development at BBVA Compass. "Customers want access to their money on their terms. Having bank-branded ATMs in high-traffic locations like H-E-B stores is a great way for us to meet those needs."
The deal provides the bank with potential access to shoppers at more than 300 H-E-B operated stores. Millions of customers visit these Houston, San Antonio, Corpus Christi and Rio Grande Valley locations annually.
The agreement between Cardtronics and BBVA Compass is part of a growing relationship established in 2012. Prior to this H-E-B announcement, BBVA Compass had branded 268 Cardtronics-owned ATMs in convenience and grocery stores throughout Colorado and Texas.
"BBVA Compass' commitment to innovation and its growing presence in Texas made it an attractive branding partner for our fleet of H-E-B-located ATMs," said Rick Updyke, president, Cardtronics' North America Business Group. "We welcome this expanded opportunity to deliver convenient self-service banking access for BBVA Compass' customers and to help grow the bank's brand."
The ATMs located in H-E-B stores in Texas are available for use surcharge-free for BBVA Compass customers and can be easily found using BBVA Compass' branch and ATM locator, available online at http://www.bbvacompass.com/locations and through the bank's mobile banking apps.