Immigrants Tech Workers Can Send Money via ATM and PayPal
By Ina Steiner
Technology Credit Union members will be able to send money from ATMs to recipients worldwide using PayPal. The service will enable real-time, person-to-person payments from the credit union's ATMs to any PayPal user in over 60 countries. The service is a partnership between the credit union, PayPal and NCR and will be available early next year.
The new service complements Technology Credit Union's banking products that are specifically targeted to the needs of high tech workers in Silicon Valley. One example is Tech CU's Global Members Program, which offers financial services to high tech workers who have recently come to the Bay Area and foreign nationals who have established residency or gained citizenship.
The credit union's CEO Barbara Kamm said, "If a member needs to send money home to a family member, for example, this will make the process more convenient than ever," she explained.
The process for transferring money person-to-person from a Tech CU ATM is as follows: a member will enter the recipient's contact information after signing-in on the ATM, choose an amount to transfer, and the money will then be immediately credited to the recipient's PayPal account. If the receiver does not have a PayPal account, he or she will need to create a PayPal account in order to receive the funds.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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