Global Axcess Corp (OTC Bulletin Board:GAXC.ob), an independent provider of self-service kiosk solutions announced today that they have entered into an exclusive contract with a national grocery chain to provide up to 400 or more stores with ATMs.
Rollout of the ATM program to this new customer is expected to begin in July of this year. The companies estimate that ATMs will be placed initially at up to 25 locations and then at the rate of 50 locations per month. Both parties have the ability to be selective on locations allowing for a controlled rollout to ensure long-term profitability for both parties. The agreement is a four-year term. The grocery chain also has approximately 900 licensees that could also choose to install ATMs through Global Axcess Corp.
Mr. Michael I. Connolly, Co-Chief Executive Officer of Global Axcess, commented, "We are pleased to announce this significant agreement. We expect this will provide our new customer with an opportunity to add new revenue streams and an additional compelling 'one-stop shop' venue that will provide them with a competitive edge. This contract will allow us to rollout the programs in a controlled and methodical fashion. We look forward to a long-term and mutually beneficial relationship and to providing them with our exceptional customer service. Furthermore, we have upside potential to provide additional ATMs to our new customer's licensees at a later time."