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Education

book app and then get money from Comprehensive discussions
an ATM by loading various non-bank
services where they have cash. Tradi- Breakout sessions at the show covered a variety of topics, including NAC gov-
tionally, they would have to request ernment affairs advocacy, cashless ATMs, The Payments Choice Act 2022, leg-
an ACH and wait for those funds to islation to extend federal bank robbery laws to protect retail ATMs—including
reach their bank account. Now they users, servicers and loaders—and banking services for America’s independent
can get money from an ATM using ATM operators (regulators are on board; it’s time for banks to step up). Many
the app. PayPal, Venmo and other businesses that have ATMs have trouble maintaining bank accounts that re-
financial services apps are included. ceive ATM deposits; as long as governing rules and regulations are followed,
Several large ATM deployment com- banks should not discriminate.
panies are adding this to their soft-
ware. Further topics explored included U.S. digital currency—how will it happen,
how long will it take, and how will digital currency coexist with cash?; the lat-
Stimulating speakers est federal cannabis banking legalization developments (ATM company reps
told me armored cars will soon have clearance to load machines at dispensaries
The first speaker on day two of NAC under certain rules); current ATM/payments industry enforcement efforts to
2022 was Representative John Rose, address unlawful "cashless ATMs," including deployments in cannabis loca-
R-Tenn., who is on the House Finan- tions (I heard two cashless ATM networks were shut down recently by the
cial Services Committee. Some topics bank that was servicing the machines).
he brought up were The Payments
Choice Act of 2022, which requires The show was full of educational opportunities, important business updates,
cash acceptance at business nation- and information from top executives, companies and government agencies.
wide (which he said is supported by
both parties), ending the remnants Allen Kopelman, a serial entrepreneur, is co-founder and CEO of Nationwide Payment Systems
of Operation Choke Point, and bank- Inc. and host of B2B Vault: The Payment Technology podcast. Email him at allen@npsbank.
ing for ATM operators, including and com, and connect on LinkedIn https://www.linkedin.com/in/allenkopelman/ and Twitter @
making rules so banks can not refuse AllenKopelman.
to bank ATM operators. I also asked
him about Durbin 2.0, and he was not
sure it could really pass in its current
format.

David Lott and Dr Scarlett Hein-
buch from the Atlanta Federal Re-
serve spoke about the latest U.S. cash
trends, spending trends, the digital
dollar, and the pressing need to make
sure cash remains a payment option
for consumers, which the Fed is be-
hind.

Marvin Bowers, vice president of re-
tail sales for Hyosung America, spoke
about the technology that is trans-
forming ATMs into full-service fi-
nancial centers. It’s a bold new world
out there for the ATM business in ad-
dition to businesses where ATMs are
located.

Alicia Moore, head of North America
ATM product for Visa, spoke about
the latest updates for PCI compliance,
requirements and timing, and “cash-
less ATM” enforcement. She also
spoke about the new push for uni-
versal deposit acceptance for retail
ATMs, which would enable ATMs to
accept deposits for any bank.

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