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BB&T Partners With Payment Alliance International To Expand Presence In Atlanta With Branded ATMs In Rite Aid Stores

Stocks in this article: BBT

Payment Alliance International (PAI), a leader in retail ATM solutions, and BB&T Corporation (NYSE: BBT), one of the largest financial services holding companies in the U.S., have jointly announced today they have entered into an agreement to brand over 130 Rite Aid Corporation ATMs in the Atlanta area. While PAI will own and operate all of the ATM placements, BB&T customers will enjoy the familiar appearance of the BB&T brand on the ATM, as well as surcharge free access for their transactions.

As one of the largest ATM networks in the United States, PAI provides ATM services for over 60,000 retail locations nationwide and was recently selected to provide ATM services for approximately 1,500 Rite Aid locations in the western, central, and southern United States. With the Rite Aid placements, BB&T is able to significantly expand their ATM footprint in Atlanta without the normal capital and operating expense associated with such a large undertaking. PAI and BB&T expect to deploy all of these locations before the end of Aug. 2013.

Gregory W. Mercer, senior vice president of PAI, stated, “We are thrilled to help BB&T expand its footprint at conveniently located Rite Aid locations in the Atlanta area where BB&T cardholders can now obtain surcharge free cash at in-store ATMs.” Mercer added, “The entire team at PAI looks forward to working with BB&T to serve our mutual customers in the coming years.”

“We are very pleased to expand surcharge-free ATM access to our BB&T clients in the Atlanta area,” said Brant Standridge, BB&T Northern Georgia Regional President. “The 130 new ATM locations in Rite Aid stores augment our existing branch and ATM network to provide convenient cash access locations throughout the Atlanta area. Our strategic alliance with PAI and Rite Aid is a positive achievement for all parties and will benefit our clients as well.”

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