NYCE Signs Reciprocal Agreement with KFTC
NYCE Payments Network is a US electronic payments network and an FIS company. FIS is a provider of banking and payments technology.
This milestone agreement is in alignment with NYCE’s overall strategic plan to further expand its international presence and provide financial institutions and their cardholders with additional options for real-time access to their funds through the NYCE Payments Network.
NYCE also has a reciprocal agreement with the Armed Forces Financial Network (AFFN) for ATM and point-of-sale transactions, with locations at most major military locations in the US, overseas and many off-base/post locations.
ChangHun Song, president and chairman for board of directors at KFTC, said: “The mobility of our card members continues to increase and this agreement supports our strategy for expansion of ATM use for our customers in the US. We believe that providing access to NYCE ATMs is a unique value proposition for our participants.”
Neil Marcous, president of NYCE, said: “This reciprocal agreement helps us to expand our reach internationally and enables NYCE cardholders to easily access their bank accounts when traveling in South Korea.
“NYCE is committed to being a trusted network provider and has a long history of delivering superior service and payment solutions that support the specific needs of its clients. This reciprocal relationship with KFTC is in line with our strategy to provide our clients with global access to the ATM channel.”
How far the agreement benefit the firms' cardholder?
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