Direct Cash Payments Inc. (TSX:DCI) ("DirectCash") announces initiative with Visa Canada to help make ATM transactions more accessible for visitors to Canada
TORONTO, June 25, 2012 /CNW/ - DirectCash, a leading provider of white label ATMs in Canada, announced today that it has teamed up with Visa Canada to provide Visa cardholders with greater access to their funds quickly, conveniently and securely. Starting this year, DirectCash's 7,600 ATMs, located primarily in high-value, high traffic tourist locations will begin accepting Visa, giving those travelling to Canada additional acceptance points that they trust.
"Research shows that travellers continue to rely on ATMs to obtain local currency when they arrive in a foreign country," said Sue Whitney, head of new products, Visa Canada. "Having DirectCash prominently display Visa branding on their ATMs, ensures cardholders know that they have found a safe and convenient location to withdraw funds using their Visa card."
DirectCash's ATMs with Visa acceptance will offer greater utility and functionality than regular ATMs currently available in Canada. For instance, Visa ATMs will accept all types of Visa cards, including debit, credit and prepaid, with additional transactions and enhancements to come.
"We're delighted to join forces with Visa to expand the services provided by our ATMs, reaching new customers and diversifying our services beyond traditional cash dispensing," said Jeffrey Smith, President and CEO, Direct Cash Payments Inc. "Visa's commitment to the ATM channel, the scope of its global network and the strength of its prepaid clients make Visa a perfect partner for us."
Whitney continued: "ATMs that accept international payment cards are generally well-located at most airports and major tourist and shopping areas, letting travellers avoid the risk of carrying large amounts of cash and easily access their vacation funds when they need it."
There are 1.9 billion Visa cards around the world. Visa is accepted at tens of millions of merchants and more than 1.8 million ATMs in 200 countries and territories worldwide.
About Direct Cash Payments Inc.
DirectCash is a leading provider of ATMs, debit terminals and prepaid products in Canada. DirectCash also offers ATM services and prepaid cards in the United States, ATM services in Mexico, prepaid cards in Australia, and prepaid cards in the United Kingdom. DirectCash is a full-service operator and transaction processor in each of these business units and has been in the ATM business since 1997 and the debit terminal and prepaid products businesses since 2002.
Based upon information obtained from competitors and information publicly available regarding the number of ATMs deployed by each Canadian chartered bank as at October 31, 2011, DirectCash ranks as the largest branded ATM operator in Canada.
Additional information about DirectCash, including DirectCash's Annual Information Form and other public filings is available on SEDAR (www.sedar.com) and on the DirectCash's website (www.directcash.net).
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.
SOURCE VISA Canada Corporation
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