Cashbox reports ATM contract with Motor Fuel Group

Source: Cashbox

Cashbox (AIM:CBOX), the independent ATM deployer and operator, is set to enjoy further growth in its ATM estate as it announces being appointed sole supplier of ATMs to Motor Fuel Group, the Middlesex based independent operator of Petrol Service Stations.

This announcement comes following a competitive selection process from various ATM suppliers.

The contract will initially see Cashbox deploying ATMs in 15 sites with the potential for a further 25 sites to follow.

Through its partnership agreements Cashbox now has over 29,000 sites where it can assess the viability of installing an ATM machine, many of those on an exclusive basis. The Company, which is purely focused on the UK market, carries out detailed research on each site before committing to installation to ensure that it meets the relevant criteria to achieve profitability.

The ATMs will be placed using Cashbox's Placement Model, whereby a convenience-fee ATM is placed with a retailer free of charge and replenished by them, eliminating the need for third party cash-handling costs. Each ATM is then treated as an individual entity, with Cashbox monitoring performance and ensuring that the retailer is fully trained and supported in its use.

Carl Thomas, Chief Executive of Cashbox plc, said: "With our industry leading levels of service and zero financial risk for our customers, Cashbox has quickly become the leading independent ATM provider of choice. Recent contract wins show that our product and service offering is not only customer focused but opens up opportunities to sites within sectors which previously may not have been able to sustain and benefit from having an ATM on site."

S G Sejpal, Managing Director of Motor Fuels Group. commented: "The outstanding service levels and 24/7 help desk service and superior product offered by Cashbox means that our customers will now be able to enjoy the added convenience of access to cash when they visit our sites."

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