Going beyond the traditional ATMProduct: Hybrid "Bi-Directional" Cash ATM As the 21st century roles on, the world is becoming even more automated, and self-service is a major part the process. Over 30 years ago, a little something called an automated teller machine [ATM], came onto the scene with little fanfare and much skepticism. By the late 1980s, ATMs were as ubiquitous as McDonald's restaurants. Fast forward: In 2006, the financial world is still at the forefront of automation. Coming to us through computerized kiosks, many financial services, from bill payment to checkerless checkout at stores like Home Depot, are now automated. One of the latest automated financial service products is a new hybrid ATM being rolled out through a partnership between Cardtronics Inc., an ATM ISO, and Info Touch Technologies Corp., an operator of "cash accepting" financial services kiosks. A "bi-directional" financial kiosk, the hybrid performs the traditional ATM cash dispensing function. Additionally, it can provide a wide array of other products and services including bill payment, wireless phone top-ups, mobile phone content, gift cards, stored-value card dispensing and reloading, and other PIN-based products. It is available for both merchants and financial institutions. In the field, Cardtronics will own and operate these new multifunction ATMs and will provide necessary repairs and cash management services. Info Touch will provide processing services for all functions aside from dispensing cash. All units will be connected to Info Touch's TIO network. TIO is a nationwide bill payment network in which people use cash to remit payment at a TIO kiosk. The ATMs will be branded with three logos: TIO, Cardtronics and the proprietor of the location in which they are placed. Other ATM products that perform functions beyond cash dispensing have been rolled out periodically, receiving only tepid response. However, for merchants with limited space and financial resources (who are always looking to cut costs, add revenue and create more shelf space for product) these new hybrid ATMs may be the ideal solution. Cardtronics Inc. Info Touch Technologies Corp. |
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© 2006, The Green Sheet, Inc. |
