CHERRY HILL, N.J., Dec. 22, 2010 /PRNewswire/ -- Access to Money, Inc. (OTC Bulletin Board: AEMI), one of the largest providers and non-bank operators of ATMs in the United States, announces that it has entered into a definitive agreement with The Pantry, Inc. to replace approximately 1,400 existing ATMs throughout 11 states in the Southeastern United States with new, Select-A-Branch enabled ATMs. The new Select-A-Branch ATMs will provide "surcharge-free" transactions to customers of participating financial institutions. In addition, each ATM will be equipped with a full motion video topper for advertising and will be capable of delivering dynamically generated coupons. Roll-out of the new ATMs is expected to begin during the first quarter of 2011.
"I am extremely excited about this endorsement of our Select-A-Branch offering by The Pantry, the third largest convenience store chain in the country," said Richard Stern, President and CEO of Access to Money. "Select-A-Branch has proven to dramatically increase both ATM transaction volumes and in-store foot traffic. With the new ATMs, we expect to be able to deliver branded, surcharge-free ATM transactions to the cardholders of more than 4,000 financial institutions, representing well over 50 million cardholders. It is our belief that with this product, Access to Money has an important competitive differentiator."
Daniel Gardner, President and CEO of Select-A-Branch said, "This agreement represents a strong vote of confidence in our proprietary software solution that allows ISOs (Independent sales organization) and merchants to deploy ATMs that are capable of delivering individually branded transactions to the cardholders of an unlimited number of different financial institutions."
John Fisher, Senior Vice President of Marketing of The Pantry said, "After a careful and thorough review of all of the ATM programs available, we believe that Access to Money, with its Select-A-Branch product, provides The Pantry with the best solution. With this new ATM program, we can offer greater value to our guests by offering many of them surcharge-free withdrawals at our ATMs. We are delighted to continue our long and successful relationship with Access to Money."
About Access to Money, Inc.
Access to Money, Inc. is one of the largest providers and non-bank operators of ATMs in the United States. With approximately 10,700 terminals under contract, its customers range from national specialty stores, retailers and credit unions to individual convenience stores, and are located throughout all 50 states. Access to Money also provides student loan outsourcing services to university credit unions throughout the United States.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts included herein, including without limitation, statements regarding our future financial position, business strategy, budgets, projected sales, projected costs and plans and objective of management for future operations, are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation there on or similar terminology or expressions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: a decline in ATM transaction volume or fees, changes in technology standards, regulatory changes, increases in interest rates, the inability to obtain cash for our ATMs, reduction in the number of transacting ATMs, market acceptance of our student loan processing services, demand for student loans, availability of credit, changes in regulations regarding student loans and financial institutions, and statements of assumption underlying any of the foregoing, as well as other factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2009 filed with the Securities and Exchange Commission and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. We assume no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations, or otherwise or to reflect events or circumstances after the date hereof.
SOURCE Access to Money, Inc.