US based electronic payment processing company Payment Alliance International (PAI) and Cash Connect, a division of WSFS Bank, have teamed up to launch vault cash and forecasting program, PAI CA$H Alliance.
The program is designed to deliver participating Market Partners network of more than 60,000 retail ATMs, with an easy-to-access, low-cost and convenient vault cash program, which includes armored carrier management, cash forecasting and limited underwriting requirements.
In order to benefit from the program and utilize one-time combo locks on all participating ATMs, the independent ATM Deployers (IAD) must process transactions through PAI.
Cash Connect president Tom Stevenson said that the market participants can save more time and money by outsourcing their cash management services, which will enable them to spend more time on business development and less time on daily operations.
PAI provides ATM processing, maintenance, equipment sales and support services as well as credit, debit and prepaid card acceptance services, remote deposit capture and check processing, among others.
Cash Connect offers more than $8bn annually in ATM Vault Cash to over 13,000 ATMs in all 50 states, Puerto Rico and the US Virgin Islands.