Travelex chooses Cardtronics for US ATM network management

Source: Cardtronics

Travelex, the world's largest retail foreign exchange specialist, has chosen Cardtronics (Nasdaq:CATM) to be the exclusive ATM managed services provider for all Travelex ATMs located within the United States.

Under the terms of the multi-year agreement, Cardtronics will provide comprehensive ATM services including transaction processing, cash management, cash replenishment, monitoring and maintenance. The ATMs are located in high-traffic locations, including over one dozen major international airports and a variety of high-profile retail and business centers.

"Travelex is the most respected name in foreign currency exchange, and as such, required a partner that could manage its ATM network to the highest standards and protect the valuable Travelex brand in the financial self-service space," stated Rick Updyke, President of Global Development for Cardtronics. "We at Cardtronics are extremely pleased to have been chosen by Travelex to provide a complete ATM turnkey management solution for their high-traffic U.S.-based ATM estate, and we look forward to many years of service and innovation together."

"Cardtronics provides a truly unique single-source ATM management offering backed up by the expertise that only the largest ATM network owner in the United States can legitimately provide," said Dan Gilby, Global Head of Self Service (ATMs). "Our partnership with Cardtronics will allow Travelex to provide our customers with improved ATM availability, security and services while saving Travelex time and money that can be focused on our core business offerings."

Cardtronics expects to complete the conversion of the Travelex ATM portfolio over to the Cardtronics platform by the end of the second quarter of 2010.

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