BETTER ATM HISTORY:
History
In 1996, inventor Stephen Oberan took his groundbreaking concept for ATM distribution of Gift Cards and non-cash media to the next level. Working with his brother, Dan Oberan development plans evolved. They understood that the Gift Card market was going to be very important in the near future despite the fact that the public had yet to widely hear about stored value Gift Cards.
In 1997, their initial plans came to fruition with the granting of a patent regarding the dispensing of non-cash media through the ATM cash tray. Because Gift Cards and non-cash media cards were still in their infancy, the patent was not brought to market immediately. Instead, the inventors closely held it, while the marketplace developed and the product quietly grew in value.
As time passed, the market began to mature and the interest in non-cash media, like Gift Cards, was building steadily. In 2004, Stephen tapped his brother, Dan Oberan, to lead the next phase of the business development effort. Dan led the initiative to bring the patented, innovative technology to market and assembled the leadership team to take advantage of the now billion dollars per year consumer demand for stored value cards. In 2005, the patent was unveiled and Dan Oberan’s company, VAROS holdings, was selected to do the preliminary market introduction.
Ultimately, a new corporation was established to hold the patents, formalize the leadership structure, and align strategies to expand market opportunities. The result was Better ATMTM Services, Incorporated. Today, Better ATMTM Services’ patented technology enables ATMs to distribute Gift Cards and other prepaid media directly from the cash tray without expensive upgrades, sidecars or other equipment.
