Cardtronics launches in Spain

Source: Cardtronics

Cardtronics (Nasdaq: CATM), the world’s largest ATM owner / operator that provides services to approximately 200,000 cash machines globally, today announced it has launched its ATM business in Spain through separate agreements it has signed with EURO 6000 and SuperCOR (El Corte Inglés).

The agreements provide the opportunity for Cardtronics, the global leader in non-bank deployed ATMs, to expand further in Europe, where the company already has more than 16,000 cash machines in the UK, Ireland, Germany and Poland.

The company anticipates that its worldwide scale and experience - Cardtronics has trusted relationships with more than 2,300 financial institutions globally and eight out of the top 10 retailers with ATM programs in the United States - will benefit Spain’s financial institutions, retailers and their customers.

Specifically, while Spanish financial institutions can collaborate with Cardtronics to better manage their ATM fleets, retailers can strategically locate in-store cash machines to build stronger relationships with their customers as well as grow sales. Consumers will enjoy more convenient access to cash.

The relationship with EURO 6000, Spain’s largest ATM network, enables customers whose banks belong to the network to transact at all Cardtronics’ ATMs and benefit from EURO 6000’s low-fee structure. The EURO 6000 logo will be visible on Cardtronics Cashzone-branded cash machines, according to the network’s internal rules.

In addition, Cardtronics has signed separate agreements that will make it the first provider of cash machines to all SuperCOR and SuperCOR EXPRES stores, as well as to another large supermarket chain. These machines, which will also be Cashzone-branded, will be rolled out gradually as part of an expected national distribution.

As a full-service cash machine leader Cardtronics will provide a full range of services that include installation and placement of the physical ATMs, maintenance and servicing, transaction processing, customized usage reports, monitoring and incident management and cash provisioning.

“Cardtronics is exceptionally pleased to offer greater cash convenience to financial institutions, merchants and, of course, consumers,” said Ramiro Sánchez-Crespo, managing director Cardtronics Spain. “Cardtronics is committed to making ATM cash access as convenient as possible for people wherever they are and whenever they need it.”

“The presence of Cardtronics is an opportunity to complement geographically the extensive network of EURO 6000 in certain points, extending the coverage and effective service to our customers," said Juan José Gutiérrez, General Director of EURO 6000.

Cardtronics recently opened its offices in Barcelona, from where it will manage an expected national rollout of ATMs. The company is currently in conversations with additional potential partners to deploy cash machines.

According to a study from PwC and IE Business School, Spaniards have one of the highest cash preference rates among Europeans; nearly 85% of payments in Spain are transacted in cash.

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