GE Capital pilots storecard cash withdrawal facility

GE Capital pilots storecard cash withdrawal facility

GE Capital Global Consumer Finance is conducting trials of a new system to provide storecard holders in the UK with access to automated teller machines (ATM).

GE Capital Global Consumer Finance is one of the largest private label storecard operators in the UK with clients such as Debenhams and House of Fraser and also offers selected personal finance products and credit cards to its customers.

Stewart MacPhail, marketing director, GE Capital Global Consumer Finance, says: "By offering a cash withdrawal facility through ATMs, we are providing customers with flexible access to an alternative source of cash should they need it."

The pilot is powered using electronic funds transfer (EFT) technology by GE subsidiary Mosaic Software.

Customer cash withdrawal transactions are routed from the ATM to the Link switch and from there to GE Capital Global Consumer Finance (UK) where Mosaic’s Postilion platform performs full verification and authorisation of those transactions.

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