Fiserv, Inc. (NASDAQ: FISV), a provider of financial services technology solutions, has partnered with FCTI Inc., ATM network company, to provide transaction processing for nearly 8,000 ATM terminals at franchise- and corporate-owned 7-Eleven stores across the United States.
Through the partnership, Fiserv will provide ATM device driving, transaction authorization, network gateway access and switching and settlement. Additionally, Fiserv will tailor its self-service tool to meet the specific needs of these ATMs to enable FCTI to do self-terminal setups.
Jayne Berthelsen, senior vice president, Product and Market Development, Card Services, Fiserv, said:
Next year, the ATM will celebrate its 50th anniversary. For five decades, the ATM has been at the forefront of the cardholder experience. People want to live their lives without worrying about having access to the money they need. This partnership increases the speed and accessibility of funds, enabling people to manage finances and get cash with ease and convenience.”
The conversion of all ATMs to the Fiserv platform is slated to begin in July 2017. Components of the overall products solution include providing priority routing of transactions over the Accel debit payments network to FCTI clients and the availability of CardFree CashSM from Fiserv on FCTI ATMs – delivering an immediate, cardless way to withdraw funds at thousands of additional ATM locations nationwide.
Robel Gugsa, Co-CEO and Chief Technology Officer, FCTI, commented:
FCTI is committed to keeping our customers ahead of the latest standards, trends and advances in technology by remaining on top of market trends and performance. Our partnership with Fiserv is a prime example of bringing this commitment to life.”
Fiserv and FCTI are also working together to bring dynamic currency conversion to ATMs, improving the cardholder experience by presenting transaction withdrawals in the cardholder’s home currency.