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MoneyPass and MasterCard ink referral agreement

29 October 2010  |  3565 views  |  0 Source: MoneyPass

MoneyPass today announced that it has signed an agreement with MasterCard making MoneyPass the preferred surcharge-free ATM solution for MasterCard debit issuers.

This agreement will apply to both card issuers and ATM acquirers, including banks, credit unions, ISO ATM acquirers and ISO card issuers. MasterCard selected MoneyPass as a partner in this agreement based on the open structure of the solution that serves the best interests of a wide variety of potential participants in a highly flexible manner.

"We are thrilled at having this agreement with MasterCard in place due to the extensive access to prospective new members that are currently clients of this premier payment company," said Doug Miraglia, president of MoneyPass. "MasterCard's advances and position as a global payments leader is an excellent fit with MoneyPass's position as a premier branded surcharge-free ATM solution. Leadership at MasterCard recognizes the value of surcharge-free transactions and the role that MoneyPass can play in complementing MasterCard Worldwide to make MasterCard branded payments even more attractive to consumers."

"The agreement with MoneyPass gives MasterCard customers and potential customers direct access to one of the nation's premier dedicated surcharge-free ATM solutions" said Leland Englebardt, Group Head, Global ATM Network. "MasterCard believes that the national distribution and locations of MoneyPass ATMs, as well as the visibility of the MoneyPass acceptance mark, will complement a wide variety of MasterCard branded payment programs that rely on surcharge-free ATM access as a key element of their value proposition."

Through this agreement, MasterCard customers that choose MoneyPass as their surcharge-free solution will gain access to nearly 20,000 surcharge-free ATMs across the United States and Puerto Rico. MasterCard may refer debit card issuers to MoneyPass for surcharge-free access, allowing them to immediately realize the financial and value-added benefits that membership in MoneyPass provides. MasterCard issuers that are interested in MoneyPass will simply need to contact their MasterCard Member Relations representative to learn more about this agreement, its benefits and how to participate.

The dramatic growth of MoneyPass over the past five years demonstrates the commitment to becoming the surcharge-free ATM solution of choice, as well as the growing interest within the financial institution and ISO community to offer a value-added service desired by consumers. Currently, MoneyPass has over 1250 bank and credit union members and nearly 40 million cardholders as participants. The diverse and extensive locations of MoneyPass ATMs make them convenient, accessible and safe for cardholders who want to eliminate surcharges when performing ATM transactions.

"As more consumers are drawn to the value of surcharge-free ATMs, MoneyPass becomes a viable and important tool in attracting additional transactions and consumers to ATMs," said Doug Miraglia, president of MoneyPass. "This new agreement with MasterCard makes MoneyPass visible to wide audience of potential members who may be looking for yet another way to provide convenience and savings to cardholders and consumers, while offering a service that can attract more business."

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