JACKSONVILLE, Fla., Dec. 14, 2010 /PRNewswire/ -- Global Axcess Corp (OTC Bulletin Board: GAXC)( the "Company"), an independent provider of self-service kiosk solutions, today announced that its Nationwide Money Services subsidiary has signed a new, five-year agreement with a southeastern-based supermarket chain to provide ATMs. The contract initially covers 40 locations, with plans for up to 80 locations total in the future.
Global Axcess expects to begin deploying the ATMs in January 2011 and expects to begin generating revenue from these services in the 1st quarter of 2011. The value of the current agreement over the five-year term for the initial 40 ATMs is approximately $250,000-$300,000 per year for a total of up to $1.5 million over the course of the five-year term.
Mr. George McQuain, Chief Executive Officer of Global Axcess, stated, "This new, long-term agreement will help our supermarket customer to be more competitive with nearby chains that offer ATMs on-site. We won this business due to our industry leading client service and up-time rates. Our industry leading management of the ATMs will allow our client to focus on managing its stores and serving its customers. We are excited to commence this relationship and look forward to expanding into more of their locations over the five-year term of the contract."
About Global Axcess Corp
Headquartered in Jacksonville, Florida, Global Axcess Corp was founded in 2001 with a mission to emerge as the leading independent provider of self-service kiosk services in the United States. The Company provides turnkey ATM and other self-service kiosk management solutions that include cash and inventory management, project and account management services. Global Axcess Corp currently owns, manages or operates more than 4,900 ATMs and other self-service kiosks in its national network spanning 43 states. For more information on the Company, please visit http://www.globalaxcess.biz. For more information on Nationwide Money Services, please visit http://www.nationwidemoney.com.
This press release may contain forward-looking statements. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as: "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. Various important risks and uncertainties may cause the Company's actual results to differ materially from the results indicated by these forward-looking statements. For a description of the risks and uncertainties the Company faces, please refer, in particular, to Part I, Item 1A(Risk Factors) of the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 3, 2010, and other filings of the Company that have been filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, and such statements are current only as of the date they are made.
SOURCE Global Axcess Corp