For all the ISOs who are selling ATM services and equipment, Electronic Payment Services, Inc. (EPS) now offers cash monitoring for the majority of ATMs across the MAC network. The product provides clients with a tool to improve ATM availability by notifying them, or their service provider, when the cash in an ATM reaches a predetermined amount. This "flag" enables the ATM owner to make provisions for replenishing the cash well before depletion, thus reducing the likelihood of an ATM running out of cash. The Cash Monitoring product is designed to improve the overall availability and delivery of services to consumers and help ATM owners better manage their cash flow.
On another MAC note, the MAC electronic funds transfer (EFT) network has announced plans to add Old Kent Bank to its organization. Old Kent is the second largest bank headquartered in Michigan and will add 370 ATMs and 320,000 cardholders to the MAC network. The MAC network is the nation's largest EFT network based on switch transactions.
The conversion is expected to be completed in the fourth quarter of this year. "We are extremely pleased to welcome Old Kent Bank to the MAC network," said Steve Dawe, senior vice president of sales for EPS.
Old Kent Bank is a bank holding company in Grand Rapids, Michigan that operates over 200 full banking offices in Michigan and Illinois, and 114 mortgage lending sites in 27 states. As of March 3l, 1998 Old Kent had total assets of approximately $14.2 billion.
For more information about the cash monitoring solution contact Mike Vigilante at mvigilante@netsep.com.
