Key Makes Agent-Bank Deal with Genpass, While TNB Links to Star

Key Corp. said today it has made an agreement with Genpass Inc. that will allow agent banks in Key's ATM network to add access to 12,000 ATMs in GenPass's MoneyPass network, a surcharge-free system. The Cleveland-based banking company, which operates 2,200 ATMs, said current and future agent banks in its network will have the option to add their machines to the MoneyPass network, but are not required to. Also, surcharge-free access to MoneyPass is not being extended to Key's own customers. Key's agent-bank program allows community banks and credit unions without ATM networks to give their customers access, with no surcharges or at discounted surcharges, to some or all of Key's machines. Irving, Texas-based Genpass, which claims MoneyPass is the country's fastest-growing surcharge-free network, is being acquired by US Bancorp in a deal that was announced earlier this month (Digital Transactions News, May 12). US Bank operates a 4,000-machine surcharge-free network called FastBank Free. Genpass drives 31,000 ATMs overall and processes 360 million transactions a year. Separately, TNB Card Services, a Dallas-based processor serving 450 credit unions, has contracted with First Data Corp. to offer access to FDC's Star network, which processes PIN debit transactions from ATMs and point-of-sale terminals at 1.6 million locations in the U.S. Through the agreement, TNB, which is owned by credit unions, will give its clients a single point of authorization for all PIN debit traffic as well as signature debit transactions, the company says. “With the increased need to combine PIN and signature in one source and the changes looming in the industry, it's critical that credit unions know they have the best options available,” said Glen Lee, first senior vice president at TNB, in a statement.