Source: Global Axcess
Global Axcess Corp (OTC Bulletin Board: GLXS), a rapidly growing independent electronic financial transaction processing company, today announced that it has signed a five-year contract extension to provide electronic transaction processing and a three-year contract to provide financial institution branding services to Ronald Harman Associates, an independent ATM operator with approximately 130 ATM terminals in the mid-Atlantic states.
Global Axcess' subsidiaries, EFT Integration, Inc. (EFTI) and Nationwide Money Services, Inc. (NMS), will provide all transaction processing, cash management and branding services for the Harman ATMs with local community banks and credit unions. Harman ATMs are primarily located in convenience stores and merchant locations. Global Axcess' services will streamline the operation of the Harman system in a cost-effective manner.
Robert K. Colabrese, executive vice president of sales of Global Axcess, said, "We are pleased to complete this agreement with Ronald Harman Associates. The robust platform of services that Global Axcess provides will drive additional traffic to the Harman ATM system, lower Harman's operating overhead and generate incremental revenue to both Harman and Global Axcess. We believe that this agreement represents a new paradigm in electronic cash management for consumers, merchants, financial institutions and independent ATM operators. We also believe that this opportunity exists internationally and Global Axcess is uniquely qualified to develop that opportunity."
"This strategic collaboration with Global Axcess permits us to provide additional high-end services that differentiates us from our traditional competitors," said Ronald Harman, president and CEO of Ronald Harman Associates. "Not only does Global Axcess provide leading-edge transaction processing, they develop new relationships with financial institutions in our markets, drive additional traffic to our ATMs and manage our business in a more cost-efficient manner by significantly reducing our cost of cash. That permits us to focus our efforts on what we do best - and that is to continue to expand our business."