NCR Atleos to Bring Surcharge-Free Cash Access to American Express Checking Customers

Rhea-AI Summary

NCR Atleos Corporation announces American Express selection of Allpoint ATM Network for surcharge-free access, expanding reach to 40,000 ATMs in the U.S.

Insights

Financial Analyst

The collaboration between American Express and Atleos' Allpoint ATM Network signals a strategic move to enhance customer experience and accessibility to financial services. This expansion of surcharge-free ATM access can potentially increase customer satisfaction and loyalty for American Express, which in turn, may lead to higher usage rates and customer retention. From an investor's perspective, this partnership could be seen as a positive development for American Express, as it leverages existing infrastructure to provide added value to its customers without significant capital expenditure on new ATMs.

Furthermore, for Atleos, this deal with a financial giant like American Express could mean increased transaction volumes through its ATMs, which could result in higher revenue from network fees. It's also indicative of Atleos' competitive positioning within the ATM network landscape, potentially attracting more partnerships like this in the future.

However, it is crucial to monitor how this partnership affects the operating costs for American Express, given the potential for increased transactions and usage of the Allpoint Network. The long-term financial impact will depend on the balance between enhanced customer engagement and the associated costs.

Market Research Analyst

The alliance between American Express and Atleos' Allpoint ATM Network reflects a growing trend in the financial services industry towards digital banking and the need for physical infrastructure to support it. By providing surcharge-free ATM access, American Express is addressing a common pain point for customers, which could enhance its competitive edge in the market. It's a strategic response to consumer demands for convenience and cost savings, especially in a market where digital banks and fintechs are increasingly challenging traditional financial institutions.

It is important to analyze consumer behavior data post-implementation to assess the true impact of this initiative on American Express's market share and customer base growth. Additionally, the increased visibility of the American Express brand during ATM transactions could serve as a marketing tool, potentially attracting new customers and reinforcing brand loyalty among existing ones.

ATLANTA--(BUSINESS WIRE)-- NCR Atleos Corporation (NYSE: NATL) (“Atleos”), a leader in expanding financial access for financial institutions, retailers and consumers, today announced that American Express has selected Atleos’ Allpoint ATM Network to expand surcharge-free access in the United States to its Business and Consumer Checking customers later this year.

By leveraging the Allpoint network, American Express will enable its Business and Consumer Checking customers to access more than 40,000 surcharge-free ATMs in the U.S. located in trusted retail locations where they live, work, shop and travel. The American Express brand will be featured prominently during each ATM transaction, providing American Express customers with assurance they will receive the service they expect. The Allpoint Network is the world’s largest independently owned retail ATM network.

“Our network powers digital banking leaders such as American Express with the physical endpoints their customers expect and demand,” explained Diego Navarrete, executive vice president, Global Sales for Atleos. “We look forward to serving more digitally native customers at our Allpoint ATMs.”

About Atleos

Atleos (NYSE: NATL) is a leader in expanding financial access by shifting transactions to the self-service channel and enabling financial institutions and retailers to leverage its ATM network – the largest independently-owned network in the world. Through its digital-first technology and unmatched global services operation, Atleos optimizes the branch, improves operational efficiency and maximizes self-service availability. Atleos is headquartered in Atlanta, Georgia, with 20,000 employees globally.

Web site: https://www.ncratleos.com
X (Twitter): https://twitter.com/ncratleos
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240213277983/en/

Scott Sykes

NCR Atleos

scott.sykes@ncratleos.com

Source: NCR Atleos Corporation

FAQ

What is the name of the corporation mentioned in the press release?

The corporation mentioned in the press release is NCR Atleos Corporation.

Which company has selected Atleos' Allpoint ATM Network for surcharge-free access?

American Express has selected Atleos' Allpoint ATM Network for surcharge-free access.

How many surcharge-free ATMs in the U.S. will American Express customers be able to access through the Allpoint network?

American Express customers will be able to access more than 40,000 surcharge-free ATMs in the U.S. through the Allpoint network.

Who is the executive vice president of Global Sales for Atleos mentioned in the press release?

Diego Navarrete is the executive vice president of Global Sales for Atleos mentioned in the press release.