First Data and TEB Sign ATM Agreement
Under this agreement, during the next three years, both the companies will create a new network comprising 1,250 ATMs at retail and other convenient locations in Istanbul and major cities across Turkey.
According to First Data, both the companies will create a premier retail ATM network, increasing ATM availability and offering new functionality to cardholders. TEB's existing customers, as well as cardholders from other banks, including tourists and visitors to Turkey, will be able to withdraw cash and use other ATM services, conveniently and securely. For retailers, the ATMs offer a new channel for communication with customers and provide opportunities to expand their service offering and generate additional revenue.
Cemal Kismir, head of retail banking at TEB, said: “This initiative is significant in terms of size and scale and will deliver value to our customers across the country. We are pleased to be working with First Data, which has an excellent understanding of the dynamics of both retail and ATM markets and global experience in managing successful and profitable retail ATM networks.”
Paul Stanley, senior vice president and general manager of integrated networks at First Data, said: “Banks are increasingly realising the opportunities presented by off-site ATM strategies and the benefits of working with an experienced ATM services provider. First Data has decades of experience in delivering reliable and technologically advanced payment solutions on behalf of customers in the banking and retail sectors, and we are delighted to be part of this far-reaching initiative.”
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