bankingciooutlook

Payment Alliance International Acquires Cash-N-Go ATMs

Banking CIO Outlook | Wednesday, August 19, 2020

Payment Alliance International (PAI) is the nation's largest, privately-held provider of ATMs, providing ATM portfolio management tools and services, including bank sponsorship, transaction processing, cash-in-transit (CIT) servicing, maintenance, and the company's portfolio management toolset PAI Reports for over 90,000 ATMs.

FREMONT, CA: Payment Alliance International, a Louisville, Ky.-based U.S. leader in ATM portfolio management tools and services, completed the acquisition of the Cash-N-Go ATM portfolio of Cash N Go ATM Network, a subsidiary of Perativ. The financial terms of the transaction remained undisclosed. The acquisition adds approximately 400 ATMs, increasing PAI's nationwide network to over 90,000 ATMs.

Payment Alliance International (PAI) is the nation's largest, privately-held provider of ATMs, providing ATM portfolio management tools and services, including bank sponsorship, transaction processing, cash-in-transit (CIT) servicing, maintenance, and the company's portfolio management toolset PAI Reports for over 90,000 ATMs.

Perativ is a financial technology company focused on cash optimization. Its SaaS platform combines automation, analytics, artificial intelligence, and ATM operations that empower financial institutions to innovate cash distribution, giving customers access to cash at more than 10,000 Access Cash ATMs across Canada.

"We are laser-focused on our SaaS-based global cash distribution network and Canadian Access Cash ATM operations," stated Chris Chandler, chief executive officer for Perativ. "We are delighted to provide our U.S. Cash-N-Go ATM customers with a smooth transition to the market leader PAI, where they will continue to receive excellent service and support."

"Chris Chandler and I have known each other for a long time," added David Dove, chief executive officer for PAI. "He's built a terrific business in Canada and we are fortunate acquire his U.S. Cash-N-Go ATM portfolio."

Weekly Brief

Read Also