ATM

Oct 13 2014
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Better ATM Services Partners with Genmega

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We are pleased to announce that Better ATM Services recently entered into a contract agreement with ATM manufacturer Genmega, which will enable all Genmega ATMs with the capability to dispense prepaid gift cards and other prepaid media directly from the cash dispenser.

Once development is complete, each ATM purchased from Genmega will have the card-dispensing technology built in and ready to be activated. This will streamline the process and reduce implementation costs as ISOs and ATM owners look to add the card-dispensing capability to their fleet of ATMs. The technology is projected to launch in Genmega machines in Q1 of 2015. Read More

Apr 30 2014
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ATM Marketplace: Tax every ATM transaction? That’s your solution?

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If you haven’t seen the news by now, yet another small economy has fallen to the level of taxing money. Jamaica has announced that a tax will be imposed every time citizens access their own money. This means that every time a Jamaican uses an ATM, that transaction will include a tax.

Might this become the trendy new solution for dozens of countries facing economic duress? Before you dismiss the thought, look at what’s already happening. We’ve seen Cyprus tax people by claiming a significant percentage of all funds residing in bank accounts. Just last December, international news headlines trumpeted Brazil’s tax plan for ATM users — “Brazilians to Pay More to Shop Abroad as ATM Tax Surges 1,600 percent.”

Here in the U.S., one congressman took an equally interesting approach. Representative Chaka Fattah, D-Pa., introduced a bill, “Debt Free America Act,” that would have eliminated all federal taxes on individuals and corporations and would have replaced them with a revenue-generating system based on transaction fees. Read More

Jan 23 2014
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citibank atm

Better ATM Services CEO talks to Market Watch: Will new ATMs make your bank branch obsolete?

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Your ATM will soon be more than just a cash dispenser—in fact financial executives and analysts say the technology may soon be able to replace some human bank tellers and bank branches.

There are roughly 425,000 ATMs in the U.S., and many of those have already gotten an upgrade—or soon will. On Thursday, Citibank C +0.04%  told MarketWatch it will unveil new ATMs in the U.S. that “remember” customer preferences (like language), offer on-page scrolling (as on an iPad), let you check your balance without leaving the screen you’re on, and feature instructions that are more conversational; the new ATMs were piloted in New York City last year and will begin rolling out in other locales in February. The move is part of a larger evolution of the stalwart machines. In the past few years, Chase and PNC introduced ATMs that dispense $1 and $5 bills; Citibank and Wells Fargo began letting you get an email receipt of your balance rather than a paper one; and Bank of America and a number of credit unions began experimenting with video conferencing with a live person right on the ATM rather than keeping employees in every branch. Read More

Jan 17 2014
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ATM Marketplace: Better ATM expands reseller network to include Advanced Network Inc.

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Better ATM Services, a solutions provider to the ATM and prepaid industries, has finalized a reseller agreement with Advanced Network Inc. As a member of the Better ATM Services reseller network, ANI will offer Better ATM’s patented technology and ATM-issued Visa gift cards to more than 60 financial institutions and their 600 ATMs in California.

ANI CEO Bob Plunkett said the new agreement comes at an important time:

Maintaining customer satisfaction requires redefining the customer experience. This agreement means we can help our clients achieve the innovation they need to better serve their customers by providing the self-service automated services and products that address consumer preferences. ATMs represent a tremendous, largely untapped distribution channel that can be leveraged to achieve their goals, while realizing new profitability. Read More

Jan 10 2014
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ATM Marketplace: “The ATM Industry in 2014: Beyond the Model T”

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To get a better idea what to expect from the ATM business in 2014, we asked professionals from across the industry what the year’s big newsmakers would be. Below, you’ll find their insights. 

What do you think 2014 will bring? Add your comments at the end of the story.

When Henry Ford went to his board of directors in the late 1920s and said that he wanted to introduce the Model A to replace the Model T, their response was that they had already saturated the market and a new model would not sell — people who wanted cars already had cars. Imagine that.

I think that is what the ATM industry is going through — we need to introduce the “Model A” and charge forward into a market that is still growing, replacing, and maturing.

The low hanging fruit has been picked, so we have to work smarter. Henry did, and look what happened to his industry.

— Bill Dunn, VP of sales and marketing, Hantle Read More

Dec 19 2013
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ATM Marketplace: The Wright Brothers Did It. Could We?

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Imagine our lives today without the gift of flight. While many were involved in one of the greatest achievements in recorded history, we tend to view one particular morning on a beach in Kitty Hawk, N.C., when powered flight was first experienced, as a victory of discovery and innovation for the Wright brothers.

Could the Wright brothers have done that today? Could we see them testing a newfangled vehicle of flight on a public beach with curious observers standing on the nearby dunes? If you or I were to try something like that today, we would likely face numerous barriers of special approvals, insurance, public hearings, and a likely unwelcome visit by law enforcement officials. Then, we would need to engage in incessant efforts to convince the non-visionaries in civic power to allow us to take several creative steps … testing and learning from each trial and failure.

During my own career, I’ve witnessed this process get more and more difficult. But I was heartened and encouraged a few weeks ago when the Consumer Financial Protection Bureau released a process with the potential to spawn new thinking that will benefit consumers and reduce resistance to innovation. Read More

Dec 06 2013
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ATM Marketplace: Better ATM, Express Teller forge reseller agreement

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Better ATM Services, a developer of value-added services for the ATM and prepaid industries, and Express Teller Services, a provider of EFT financial service products for financial institutions and retailers, have inked a reseller agreement that will allow third party ISOs and IADs to offer their customers ATM-dispensed Visa gift cards and other prepaid products by Better ATM.

The accord makes Express Teller Services the exclusive reseller for Better ATM products to credit unions in Arizona, and builds upon a partnership between the two companies that began when Express Teller Services piloted Better ATM’s patented technology with Arizona-area credit unions, said a press release from Better ATM. Read More

Oct 31 2013
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From Russia with Love

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This post by Todd Nuttall, CEO of Better ATM Services, first appeared on www.atmmarketplace.com.

Leo Tolstoy had it right. A century after his death, I find myself marveling at the stark contrasts in a country still wrestling with the evolving payments industries.

I just returned from a speaking engagement at the Fifth International PLUS Forum Cash Circulation + Self-service Banking and Retail 2013 in Moscow. What a dichotomy.

Here you have the younger population already embracing smart phones, but prepaids are, in essence, still a world away. ATMs are the lifeblood of the average citizen, who seems caught between two realities — the old way and what we in the U.S. take for granted as a part of everyday life. Read More

Oct 19 2013
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The Impact of Market Turbulence on ATMs

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ATMs are foundationally intended to give people easy access to their cash. But turbulence alters human behavior. Contributors to such turbulence include artificially low interest rates, high personal and national debt, weather-related disasters and changing behaviors driven by technological and societal changes. This white paper, sponsored by Better ATM Services, Inc., explores potential threats and how to devise a strategy and build new revenue streams.

Click here to download the white paper from atmmarketplace.com.