Cashbox reports Wadworth ATM deal
16 June 2006 | 2004 views | 0
Cashbox plc (AIM:CBOX), the independent ATM deployer and operator, announces that it has signed a contract to be the exclusive supplier of ATMs for the pub estate of Wadworth and Company Ltd (Wadworth).
Following a successful six month trial in Oxfordshire, Cashbox will now begin installing ATMs under the Company's Placement Model throughout Wadworth's managed estate of 40 premises. The first machine will be installed in the next fortnight and the full roll-out is expected to be completed in two months. Cashbox will also be available for Wadworth's 218 tenanted locations and will be negotiating with each location on a one-by-one basis.
Under the Placement Model, Cashbox retains ownership of the ATM, providing it for the Merchant's use. Cashbox retains a proportion of the gross Convenience Fee while the site owner takes responsibility for cash provision, cash replenishment (from their takings) and telecommunications.
Commenting on the agreement, Jo Skuse, Machine Controller of Wadworth, said: "Following a favourable trial of the Cashbox ATM programme Wadworth are pleased to confirm that we have now signed an ongoing contract for Cashbox to supply ATMs to our pub estate. We have been impressed with the service we have received to date from Cashbox and are looking forward to a long and mutually beneficial business relationship."
Carl Thomas, Chief Executive of Cashbox plc, said: "We are delighted to have formed this relationship with Wadworth and look forward to working with the company going forward. We believe our free placement of ATMs not only delivers increased footfall to the pubs themselves but they increase customer retention and cash spend at the bar. There continues to be a significant and growing demand for convenient cash and Cashbox has a strong pipeline of future ATM installations."