Better ATM Services, a technology innovator in the ATM industry, has announced they will expand their ATM-dispensed Visa prepaid card program throughout the U.S. The decision to grow the program followed the enthusiastic response from consumers and financial institutions during an in-market pilot program conducted through financial institutions in Arizona.
Better ATM® Services enabled ATMs use on-screen options and minor hardware adjustments to allow customers to purchase Visa prepaid cards. A simple menu allows consumers to select between cash or a Visa prepaid card.
ATM-dispensed prepaid cards are made of a durable yet thin material, allowing cards to easily pass through the cash mechanisms of ATMs. These cards meet Visa’s quality control standards.
The ATM-dispensed Visa prepaid cards can be issued by Visa member financial institutions — both banks and credit unions.
“ATM networks are secure distribution channels that are already in place in high traffic areas throughout the U.S. and are ideal for new features and services such as Visa prepaid cards,” said Todd L. Nuttall, CEO/Better ATM Services. “The pilot has demonstrated that they are the perfect vehicle to deliver value-driven products that meet consumer needs.”
It is estimated that the total value of the prepaid card market will climb to $549.7 billion in 2012. According to Mercator Advisory Group, by 2013, consumers will load $117 billion onto prepaid cards, which would mark a 200% increase in just three years.
“ATM-dispensed Visa prepaid cards are another example of prepaid serving as a platform for innovation,” said Hyung Choi, head of U.S. prepaid at Visa. “By supporting this new distribution channel, Visa is providing consumers with convenient prepaid card access via a familiar, well established and secure interface.”