Global Axcess' Branded Cash Program Continues To Experience Accelerated Growth E-mail or Print this story
15 September 2003, 07:30am ET
Company's Subsidiary, Nationwide Money, Expanded Existing Key Customer Relationships and Signed New Bank Partner In August
PONTE VEDRA, Fla., Sept. 15 /PRNewswire-FirstCall/ -- Global Axcess Corp. (BB:GLXS), one of the nation's only fully integrated, one- stop sources for ATM solutions, today announced that Nationwide Money, a wholly owned subsidiary of the Company, reported that its Branded Cash Program continued to experience accelerated growth in August.
Specifically, the Company reported:
* Four existing Branded Cash Program partners increased the number of ATMs deployed under the program in their service areas -- Monarch Bank (Virginia), Rockingham Heritage Bank (Virginia), Bank of McKenney (Virginia) and Lumbee Guaranty Bank (North Carolina);
* The Marathon Bank (Virginia) was signed as Nationwide's newest Branded Cash Program partner;
* Bank of Clarke County, serving northwestern Virginia and the first Bank to enter the program in 1997, extended the term of their partnership with Nationwide Money under the Branded Cash Program two additional years;
* Bank of McKenney serving southwestern Virginia extended the term of their partnership with the Company under the Program for three additional years; and
* Mechanics and Farmers Bank (North Carolina), which brands the most Nationwide Money ATM under the program, extended the term of their partnership with the Company for three additional years.
The Company's Branded Cash Program is a turnkey ATM network solution, owned and managed by Nationwide Money, that is marketed to credit unions, community banks, and regional financial institutions. By partnering with Nationwide Money, a financial institution is empowered with the ability to broaden its market area, offer its customers free ATM access and promote its own corporate identity among consumers in the markets they serve -- all at a fraction of the cost of what it would require if they owned, operated and supported their own ATM network.
About Global Axcess Corp.
Mentioned Last Change GLXS 0.33 (Unchanged) Headquartered in Ponte Vedra Beach, Florida, Global Axcess Corp. was founded in 2001 with a mission to emerge as a leader in the Automated Teller Machine (ATM) industry. Through its wholly owned subsidiary, Nationwide Money Services, Inc. (NMS), the Company provides turnkey ATM management solutions that include cash, project and account management services. NMS currently owns and operates over 1600 ATMs in its national network spanning 39 states and provides proprietary ATM branding and processing for 33 financial institutions with over 360 branded sites nationwide. EFT Integration, Inc. (EFTI), another 100%-owned subsidiary of Global Axcess, provides traditional, certified transaction processing and terminal driving to its valued customers and is developing alternative processing solutions for expanding ATM functionality through web-based products and services. Future product offerings will be targeted towards traditional ATM users, cross-border processing of transactions, and solutions to provide financial services to the un-banked customer, such as check cashing, international money transfer and pre-paid products/services. For more information on the Company, please visit www.globalaxcess.biz.
Certain statements contained in this press release, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute "forward-looking statements" within the meaning of the federal securities laws. These certain statements are based on our assumptions and estimates and are subject to risks and uncertainties. You can identify these forward-looking statements by the words like "strategy", "expects", "plans", "believes", "will", "estimates", "intends", "projects", "goals", "targets", and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. For these statements, we claim the protection of the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. For further information on factors that could impact Global Axcess Corp. and statements contained in this press release, reference should be made to Global Axcess Corp's filings with the Securities and Exchange Commission, including quarterly reports on Form 10- QSB, current reports on Form 8-KSB and annual reports on Form 10-KSB (you can access such filings at www.sec.gov .)
At Elite Financial Communications Group, LLC Investor/Broker/Media Relations Stephanie Noiseux, Vice President of Client Relations 407-585-1080 or via email at
steph@efcg.net
SOURCE Global Axcess Corp. -0- 09/15/2003 /CONTACT: Stephanie Noiseux, Vice President of Client Relations, Global Axcess Corp, +1-407-585-1080 or email,
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