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Paul Penrose
Paul Penrose - Finextra - London 12 August, 2008, 11:13Be the first to give this comment the thumbs up 0 likes

Bank Machine MD Ron Delnevo has been touring radio and television newsrooms this morning to explain the scheme. Good citizenship aside, Bank Machine's business is primarily based around the provision of ATMs in low income areas and at military bases and hospitals. The long-term viability of the business is of course under threat from the provision of contactless payments, which have been pitched as a substitute for low-value cash transactions. Interesting that Delnevo is keen to highlight the Bank of England's backing of the programme - effectively pitting the central bank and its vested interest in the money supply chain, against the major retailers and high street banks who are pushing for more plastic payments.