New York Community Bank is using technology from eftpos vendor Ingenico and payments processor TransFirst to provide its customers with pre-paid and stored-value card services at its branches.
The bank is deploying Ingenico's Elite 712 EFT POS terminal to enable customers to purchase pre-paid long distance and wireless services, as well as Visa branded gift cards and MasterCard branded stored value debit cards at branches.
Commenting on the programme, Robert DuFort, SVP, New York Community Bank, says: "Both established and new customers are attracted to the exceptional 'one-stop shopping' ease provided by these products. Long distance, wireless, gift, debit and other prepaid products are a profitable and 'leading edge' service."
Marla Knutson, president of financial institution services at the bank's payments processor TransFirst, says financial firms are searching for ways to address the needs of the 'unbanked' and 'under banked': "Prepaid and stored value products...will enable New York Community Bank to offer a comprehensive and profitable suite of products and services."
Euronet subsidiary PaySpot will supply the pre-paid long distance and wireless products included in the programme, while the Access MoneyNow debit MasterCard stored value cards issued will be delivered by Access Card Systems and its processing partner Symmetrex.