BURNABY, B.C. -- Cardtronics Inc., an owner and operator of ATMs, and Info Touch Technologies Corp., an operator of cash-accepting bill payment and financial services kiosks, unveiled a hybrid ATM unit that is the result of combining a traditional, cash-dispensing ATM with a cash-accepting financial services kiosk. In addition to making a pilot program of the new ATM available in select U.S. markets this spring, a total managed solution that includes hardware, software and administration services will also be offered.
This initiative will enable merchants [image-nocss] to offer their customers the functionality of not only an ATM, but also a broad range of other financial services, all without requiring any additional staffing or dedicated floor space beyond what is typically needed for an ATM. A few of the available services include: bill payment, wireless phone top-ups, long distance, mobile content and other pin-based products, gift-card purchases, stored-value-card dispensing and stored-value-card reloading.
By offering this new hybrid ATM, merchants will be able to better serve and cater to their customer base, said Jack Antonini, president and CEO of Cardtronics. The new service offerings will drive enhanced customer loyalty and create a proven recurring revenue stream.
Cardtronics will own and operate the new hybrid ATMs, with Info Touch providing processing services for all functions other than cash dispensing. All hybrid ATMs will be part of Info Touch's TIO Network and will be branded with Info Touch's TIO logo as well as the logos of Cardtronics and the merchant-retailer.
The hybrid ATM is especially effective in space-challenged retail environments that do not have sufficient room to accommodate an ATM and a separate kiosk for self-service financial services, said Hamed Shahbazi, chairman and CEO of Info Touch Technologies. The convergence of the ATM and financial services kiosk under the TIO Network is a major step forward for the convenience retail industry and our Company.
Cardtronics has a nationwide U.S. network of more than 25,000 locations operating in every major market and in all 50 states, as well as 1,000 locations throughout the United Kingdom.
Info Touch Technologies, a strategic investment of Hewlett Packard, is building the TIO Network. With more than 700 locations and six top-tier corporate-owned convenience store chains participating, the TIO Network is the largest national multi-retailer network of self-service financial service kiosks in North America. Services offered under the TIO brand umbrella are tailored specifically for the cash-preferred consumer marketplace. More than 265,000 people a month use TIO.
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