FIS Unveils $1 Fee ATM Program (Dec. 10, 2012)
Dec. 10, 2012
Banking and payments technology provider FIS has unveiled a new program the company says will save ATM users from high convenience fees, while increasing traffic and earnings for ATM owners. FIS’s new DOLLAR$TOP limited surcharge program enables consumers to access ATMs across the U.S. with a guaranteed $1 convenience fee limit. Available through the NYCE Payments Network and AFFN, the program also features no royalty fees for the ATM owner, which are often associated with surcharge-free ATM programs, FIS said. Operators are free to retain 100 percent of any proprietary ATM fees they choose to charge and are able to roll out the DOLLAR$TOP program within 30 days of signing up. According to FIS, ATM owners will benefit from increased traffic on limited-fee ATMs equipped with DOLLAR$TOP.
Payment Alliance International Inc. (PAI), the largest processor of ATMs in the U.S., is partnering with FIS on the initial rollout of the program through its network of more than 60,000 ATMs across the U.S. “DOLLAR$TOP offers a unique combination of attractive revenue and increased transaction volumes,” PAI Executive Vice President and COO Greg Sahrmann said adding that initial interest in the program has been “very strong.”