Cardtronics, Inc. (CATM) today announced expansion of its European presence into Poland, partnering with Shell Poland as its first customer in this new geographic market. Cardtronics is the world's largest retail ATM owner / operator.
This new ATM services arrangement in Poland with Shell - with which Cardtronics has a global relationship -- calls for Cardtronics to initially operate at least 50 ATMs at key service stations across the country. Additionally, Cardtronics has plans to place another 50 ATMs at multiple other retail outlets, including convenience and grocery stores, in the first wave of implementations, which is expected to be completed in May. Cardtronics will use its European consumer brand, CashZone, on its Polish ATM placements.
The Polish market is significantly under-penetrated in terms of ATMs per person relative to other countries in which Cardtronics operates. According to RBR, a leading global payments research firm, the Polish market has 485 ATMs for every million people compared to 1,066 ATMs in the United Kingdom and 1,355 in the U.S. At the same time, the Polish economy has demonstrated strong growth since the country joined the European Union in 2004. Poland is a cash-oriented economy, with nearly 90 percent of point-of-sale transactions involving cash, according to RBR.
Jonathan Simpson-Dent, Managing Director of Cardtronics Europe, commented:
"This latest move from Cardtronics presents an excellent strategic opportunity to grow and diversify our European business in a healthy, cash-dominated market. Given current ATM penetration levels, the Polish market offers great potential for us and we expect that our ATM services will be very positively received. By expanding our relationship with Shell as a launch partner in Poland -- coupled with additional local retailers -- Cardtronics offers Polish consumers convenient access to cash across the country. We anticipate this initial rollout in the coming months will lead to further ATM expansion for Cardtronics in Poland over the coming years."
Cardtronics Europe, a wholly owned subsidiary of Cardtronics, currently operates a portfolio of 13,850 ATMs in the U.K. and in Germanin the U.K. and in Germany.