Zions Bank has signed an agreement with e-payment transaction processor Concord to provide community banks with electronic merchant card processing, ATM access and credit card issuance.
Under the agreement, Zions' correspondent banking division will provide clients with ATM access via the Star electronic payment network, and a range of enhanced payment acceptance options such as POS debit, cheque truncation, and gift and loyalty programmes.
Community banks will also be able to issue their own-branded debit cards to clients with terminal driving and monitoring for nearly every ATM model. Transaction routing and authorisation will be via the Star network. The banks will offer advanced deposit risk management services, real-time card management and authorisation for PIN-secured debit cards.
Grant Hurst, vice president and manager of Zions' correspondent banking group, says: "In our on-going effort to provide a full line of banking services to regional and community banks, we believe this new strategic alliance will provide additional opportunities for our clients to house all their merchant processing and ATM/debit program requirements with one vertically integrated provider."