Payment Alliance International (PAI), a leader in electronic payment processing solutions and the nation’s largest Independent ATM Deployer (IAD), and Cash Connect, a division of WSFS Bank (NASDAQ: WSFS) and premier supplier of ATM vault cash services, today jointly announce they have partnered to offer an exclusive vault cash and forecasting program. Marketed as PAI CA$H Alliance to PAI’s nationwide ATM Market Partner network consisting of over 60,000 retail ATMs, the program provides participating Market Partners with an easy-to-access, low-cost and convenient vault cash program to include armored carrier management, cash forecasting and limited underwriting requirements.
PAI has leveraged its nationwide ATM network to create the turnkey PAI CA$H Alliance program with Cash Connect, offering a secure, fully-insured, cash management solution to the PAI Market Partner’s IAD business. Through this extremely affordable program, services are easily obtained and include vault cash, carrier management, cash forecasting, maintenance and insurance — all through a single source. IADs must process transactions through PAI to take advantage of the PAI CA$H Alliance program and utilize one-time combo locks on all participating ATMs.
“This announcement marks an exciting time here at Payment Alliance as we understand the real 'vault cash' challenges facing IADs in today’s difficult credit market,” said John J. Leehy, PAI president and chief executive officer. Leehy added, “We are excited to partner with the leader in vault cash services, Cash Connect, and are pleased to be able to offer this program to our Market Partners and their customers.”
“We’re thrilled to help propel the growth of PAI Market Partners through the new PAI CA$H Alliance program,” said Cash Connect President Tom Stevenson. “The additional time and capital gained by outsourcing cash management services will allow them to spend more time on business development and less time on daily operations,” adds Stevenson. “It’s an honor to be selected as PAI’s partner for this exciting new solution.”