National Bank Of Greece & Stet Hellas
Pioneer Prepaid Wireless Transactions Through
Next step to take ATM transactions wireless
June 28, 1999
ATHENS, Greece -- Bell Atlantic [NYSE:BEL]
announced today that its pioneering Greek mobile provider Stet Hellas
Telecommunications S.A and National Bank of Greece, the largest
commercial bank in Greece, now offer both companies' customers one of
the world's first services for recharging prepaid mobile phone credits and
paying monthly phone bills via automatic teller machines (ATMs).
The National Bank of Greece's nationwide network of 750 ATMs is the
largest in Greece and will expand to 800 locations by the end of the year,
and 1,000 locations by the year 2000.
Telestet customers can pay their bills through the 24-hour network using
their bank debit card (ETHNOCASH), and can purchase prepaid credits by
using either a debit card or a credit card.
Stet Hellas markets its prepaid service using the product name B Free by
Telestet. Since the introduction of B Free by Telestet in 1997, prepaid
service has become the fastest growing segment of the mobile telephony
market in Greece.
The agreement marks the first step in the collaboration between Stet
Hellas and the National Bank of Greece. The companies plan to launch
shortly industry-leading mobile banking products that will allow
customers easy, remote access to a host of banking services via Telestet's
The Governor of the National Bank of Greece, Mr. Theodore Karatzas
said, "Our bank, in its continuing efforts to step up its operational
efficiency and upgrade the level of client service is now offering a set of
new services that make innovative use of technology. Working with a
dynamic partner such as Telestet, will enable us to improve and widen the
options available to both our customers. The National Bank of Greece is
thus reasserting the importance it attributes to consolidating its role and
position as a leading force in the field of retail banking."
"The launch of these new services for Telestet customers is
significant. Just as automatic teller machines and mobile phones have
created new freedom for our customers, our new collaboration will create
even greater freedom for the benefit of our customers," stated the
Managing Director of Stet Hellas, Roberto Rovera. "From our
perspective, National Bank of Greece is an outstanding new partner in
Telestet's growing, convenient and diverse family of quality points of sale.
Our goal is to ensure that our customers find it easy to do business with us
whenever and wherever they want."
Stet Hellas Telecommunications S.A. is at the forefront of the mobile
communications industry in Europe. To its growing base of more than
797,000 customers in Greece, the company's Telestet brand stands for
innovative services and the latest in communications technology. The
company's shareholders include Stet Mobile Holdings NV, Bell Atlantic
and the Interamerican Group, and its stock is publicly traded on the
NASDAQ (STHLY) and Amsterdam (STHLS) exchanges. Internet users:
Visit our NEW web site at www.telestet.gr.