Nyce signs reciprocal ATM deal with Korean telco
06 October 2010 | 3131 views | 0
NYCE® today announced it has reached an agreement with Korea Financial Telecommunications Clearings Institute (KFTC) that allows both KFTC cardholders to use NYCE ATMs at more than 360,000 locations throughout the U.S. and its territories, and NYCE cardholders to use KFTC ATMs throughout the Republic of Korea.
NYCE Payments Network, LLC, is a leading U.S. electronic payments network and an FIS™ company. FIS is one of the world's largest providers of banking and payments technology.
This milestone agreement is in alignment with NYCE's overall strategic plan to further expand its international presence and provide financial institutions and their cardholders with additional options for real-time access to their funds through the NYCE Payments Network. NYCE also has a reciprocal agreement with the Armed Forces Financial Network (AFFN) for ATM and point-of-sale transactions, with locations at most major military locations in the U.S., overseas and many off-base/post locations.
"The mobility of our card members continues to increase and this agreement supports our strategy for expansion of ATM use for our customers in the U.S.," said KFTC President and Chairman of the Board of Directors, Mr. ChangHun Song. "We believe that providing access to NYCE ATMs is a unique value proposition for our participants."
"This reciprocal agreement helps us to expand our reach internationally and enables NYCE cardholders to easily access their bank accounts when traveling in South Korea," said NYCE President, Neil Marcous. "NYCE is committed to being a trusted network provider and has a long history of delivering superior service and payment solutions that support the specific needs of its clients. This reciprocal relationship with KFTC is in line with our strategy to provide our clients with global access to the ATM channel."