NCR enables FX conversions at UK ATMs

NCR enables FX conversions at UK ATMs

US-based NCR is releasing a new software package in the UK that enables foreign exchange conversions at the ATM.

NCR says its Aptra Dynamic Currency Conversion software gives consumers in the UK the option of paying in their home currency for foreign currency withdrawals.

The software clearly displays currency withdrawal and commission costs on the unit in the consumer's domestic currency

The technology can be deployed on the UK's first FX ATM, which displays real-time exchange rates, offers a range of language options, accepts most major credit cards and can dispense up to eight currencies.

On completing the transaction, the user is provided with a receipt outlining the wholesale exchange rate and any currency conversion fees charged.

The FX ATMs are likely to be operated by foreign exchange bureaux, banks or new entrants to this market, such as travel agents and airport, ferry port and railway terminal operators, says NCR.

The exchange rate will be set by the ATM deployer, which could be a foreign exchange bureau, bank or an independent company.

Rachel Nash, NCR's VP, financial solutions division for UK and Ireland, says: "NCR research has shown that 80% of consumers will opt for the FX ATM dynamic currency conversion at the point-of-purchase as they want better value currency and to be able to keep track of their cashflow easily. This makes it a compelling business opportunity."

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