Cardtronics, Inc. (Cardtronics) the largest owner and operator of ATMs in the world, and Info Touch Technologies Corp. (Info Touch), the leading operator of cash accepting bill payment and financial services kiosks (TSX-V: IFT), today announced the unveiling of a hybrid ATM unit which is the result of combining a traditional, cash-dispensing ATM with a cash-accepting financial services kiosk.
In addition to making a pilot program of the new ATM available in select U.S. markets this spring, a total managed solution that includes hardware, software, and administration services will also be offered.
This initiative will enable merchants to offer their customers the functionality of not only an ATM, but also a broad range of other financial services all without requiring any additional staffing or dedicated floor space beyond what is typically needed for an ATM. A few of the available services include: bill payment, wireless phone top-ups, long distance, mobile content and other pin based products, gift card purchases, stored value card dispensing and stored value card reloading.
"By offering this new hybrid ATM, merchants will be able to better serve and cater to their customer base," said Jack Antonini, president and CEO of Cardtronics. "The new service offerings will drive enhanced customer loyalty and create a proven recurring revenue stream."
Cardtronics will own and operate the new hybrid ATMs, with Info Touch providing processing services for all functions other than cash dispensing. All hybrid ATMs will be part of Info Touch's TIO Network and will be branded with Info Touch's "TIO" logo as well as the logos of Cardtronics and the merchant-retailer.
"The hybrid ATM is especially effective in space-challenged retail environments that do not have sufficient room to accommodate an ATM and a separate kiosk for self-service financial services", said Hamed Shahbazi, chairman and CEO of Info Touch Technologies. "The convergence of the ATM and financial services kiosk under the TIO Network is a major step forward for the convenience retail industry and our Company."