CHRISTOPHER WOLFINGTON

Aggregated News & Information about Christopher Wolfington

MONEY CENTERS OF AMERICA, INC. ANNOUNCES CLOSING OF ATM PROCESSING AND $40,000,000 VAULT CASH AGREEMENT

 

KING OF PRUSSIA, PA--JAN 24, 2005 -- Money Centers of America, Inc. (OTC BB:MCAM - News) today announced that it has signed an ATM processing and $40,000,000 vault cash agreement with Genpass, Inc.

 

The new agreement provides Money Centers of America with a full suite of ATM processing services, dedicated support for installations and conversions, and up to $40,000,000 in vault cash to meet the ATM needs of Money Centers of America’s growing business.  The agreement also provides exclusivity to Money Centers of America as Genpass’s preferred provider for Credit & Debit Card Advance, Check Cashing, and other cash access services in the Gaming Industry.

 

“Our relationship with Genpass has grown significantly in the past few years and I believe we both recognized that expanding this relationship would position both companies to capitalize on the changing trends in the Gaming Industry,” said Christopher Wolfington, Chairman & CEO of Money Centers of America.  “Genpass’s commitment also validates the platform for our Transaction Mangement System as a strong alternative to our standard suite of cash access services,” stated Wolfington.

 

“Money Centers of America is an extremely innovative and aggressive player with a rapid growth trajectory in the cash access business.  They operate in an industry that is consolidating and is among the most demanding about service quality, reliability and speed of response,” stated Bipin Shah, Chairman and CEO of Genpass, Inc.  “Like most consolidating industries we are confident that the Gaming Industry will consider moving toward internalizing their payment processing and cash access services.  We are excited to be a part of Money Centers of America’s proprietary Transaction Management System which is well positioned to capitalize on this inevitable change.” stated Shah.

 

About Money Centers of America

 

Money Centers of America, Inc. provides cash access services and transaction management systems for the Gaming Industry.  The company has combined state-of-the-art technology with personalized customer services to deliver ATM, credit card advance, POS debit, check cashing services, CreditPlus outsourced marker services, and merchant card processing.

Our products and services allow casino customers to access cash through ATMs, credit card advances, debit card advances and check cashing.  Our proprietary CreitPlus, cash services host programs, and transaction management system provide casinos with unique methods to make cash available to gaming customers.   For a complete corporate profile on Money Centers of America, Inc., please visit our corporate website at

 http://www.moneycenters.com/.

 

Safe Harbor Notice: Certain matters discussed in this news release are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties including, but not limited to, statements concerning Money Centers of America's commencement of a new business plan, the ability to close pending transactions and other risks detailed from time to time in Money Centers of America's filings with the Securities and Exchange Commission. Actual results may differ materially from those expressed in any forward-looking statements made by or on behalf of Money Centers of America, Inc.