New Rototype Cashless ATM Enables Banks to Acquire Business Operating Accounts.
Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
, June 11, 2013 /PRNewswire-iReach/ — Rototype International
unveiled its new ATM, the
Creutzfeldt-Jakob disease, see there
8000 Cashless ATM to a gathering of bank
executives at its Wall Street showroom in New York today.
The changing economic climate is pressuring banks to look for new
revenue opportunities to meet its return on equity targets. Moreover,
the implementation of tough new regulations such as the Dodd-Frank Act
is expected to reduce $27b in annual debit card fees for large banks.
Consequently, banks are constantly looking for ways to reduce its cost
to revenue ratio in order to remain competitive in the industry.
There are opportunities to explore within the small merchant
business segment. While card schemes provide cashless payments via
, new non-financial establishments are aggressively promoting
mobile payment and Point of Sales (
) machines featuring mobile wallet
integrations. However, these small businesses still face cost challenges
such as high transaction fees and high cost of entry.
Rototype’s innovation enables banks to tap into this business
segment by enabling a new cashless payment transaction using existing
“With Rototype’s cashless ATM, your bank enables these
small merchants to process cashless payments with the familiarity of a
traditional ATM. Retail customers will only need to select the merchant
to transfer the cash electronically” said Harres Tan,
He continued, “What differentiates Rototype’s solution
from other cashless ATMs or scrip terminals is that the shared ATM
dispenses a high security voucher that is presented to the merchant for
redemption. Merchants authenticate the voucher validity using
Rototype’s mobile app and this solution can be integrated into the
merchant’s existing POS systems.”
This approach benefits all stakeholders in the payment process,
especially merchants and customers. Every merchant’s sales
transactions will translate into direct deposits into their operating
account – thus reducing the need of handling physical cash. Banks will
eliminate cash replenishment headaches and reduce non-interest
generating cash in traditional ATMs.
By partnering with these merchants, banks can provide the Rototype
cashless ATM facilities surcharge free to the merchants’ customers
while managing their business operating accounts. This strategic
partnership reduces the barriers to entry for these merchants in order
to conduct cashless transactions in their business.
The CJD 8000 Cashless ATM is certified
EMV EuroPay, MasterCard, Visa
EMV Europay, Mastercard and Visa
Level 2 and ADA
compliant, ready for immediate deployment in the US market.
About Rototype International Rototype International is a global
self-service banking solutions provider facilitating electronic payments
of merchandise at shopping malls via its shared Cashless ATM. It is the
designer of the Cashier’s Check Dispensing ATM and the Bundled Cash
/ Check Deposit ATM. The company provides outsourcing services with
schemes such as “pay-per-use” and “all-inclusive”
lease/rental. These include check collection, back office check
processing and 24/7 management of self-service machines deployed by
banks. Additional information may be found at www.rototypeintl.com |
Media Contact: Vanessa Tan Rototype International, 1-212-252-2086,
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SOURCE Rototype International