Fiserv Integrates NCR Atleos ATMs to Expand Access to Cash Services
by Jared Kirui
Fiserv has partnered with NCR Atleos Corporation to allow consumers to pay cash for utility, phone, cable and other bills at thousands of ATMs in U.S. retailers , grocery stores and convenience stores to allow shops and pharmacies.
According to the press release, the global payment and financial technology solutions provider will expand its CheckFreePay network to include Atleos’ ATM network. The duo aims to target consumers who prefer cash transactions for convenience and accessibility.
Introducing Cash Payment at ATMs
Initially available at thousands of Atleos ATMs that already accept cash, the bill payment service is expected to grow as more ATMs are deployed across the United States. This expansion expands consumer access to bill payment options and increases operational efficiencies for merchants.
Brian Seemann, Senior Vice President of Biller Solutions at Fiserv, mentioned: “Many consumers prefer to pay bills in person with cash, and CheckFreePay helps them streamline financial tasks with multiple payment options in places they visit every day. “
“Introducing a self-service bill payment option at thousands of Atleos ATM locations will expand consumer access to these features while increasing efficiency and increasing foot traffic for merchants.”
By shifting cash-Payments from traditional in-store counter transactions to self-service ATMs, merchants can automate transactions, streamline business operations, and benefit from more users, Fiserv said.
Fiserv’s Strong Financial Performance Drives Expansion
Last year, Fiserv reported impressive financial results for the third quarter of 2023, highlighting a significant increase in revenue and earnings per share (EPS).
The company’s revenue increased 8% year-over-year to $4.87 billion, with notable growth in the acceptance segment, which grew 12%. Additionally, Fiserv’s fintech and payments segments grew 4% and 5%, respectively.
The company’s GAAP EPS recorded a notable increase to $1.56 in the third quarter of 2023 and $3.54 in the first nine months of 2023, an increase of 108% and 32%, respectively compared to the previous year. Fiserv’s GAAP operating margin also experienced significant growth, reaching 30.8% in the third quarter and 25.2% in the first nine months of 2023.
