Banks Benefit From ATM-Based Prepaid Recharge
Fecha Viernes, diciembre 10 @ 13:40:48
Tema Banca y Finanzas:: Finances & Big Blue
| Dec 06 2004 : With the Yankee Group predicting over 25 per cent of wireless subscribers in the US to choose prepaid and hybrid-prepaid plans by end-2007, more banks are expected to offer prepaid top-ups at ATMs.
In fact, wireless carriers will need to offer recharge through non-traditional channels such as ATMs and kiosks to retain customers. US Bank saw a rise in transaction volumes just two weeks after launching prepaid top-up services at 4,000 ATMs across the US, which confirms that many prepaid subscribers do hold bank accounts, and are not unbanked, as may have been the case until the past few years.
Prepaid wireless was traditionally the preserve of the underbanked US population, but the success of US Bank in increasing ATM transaction volume by offering prepaid recharge, confirms a wider population to be using prepaid services than in recent years. US Bank and its solutions provider bcgi profit from the ATM prepaid top-up service by splitting the 10 to 20 per cent commission fees from wireless carriers. If non-US bank customers use a US Bank-branded ATM to top up prepaid wireless accounts furthermore, their own banks can take a slice of revenue from the service by charging fees for using a ‘foreign’ ATM.
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