This ATM is Like Nothing You’ve Seen Before

What's Next In Payments®
4:26 PM EDT June 20th, 2012

This ATM is different — in fact, the manufacturer isn’t even calling it an ATM.

The new Retail Teller Machine (RTM) made by KAL offers retailers a unique way to conduct “cash” transactions with consumers. The trick: KAL’s machines don’t dispense any cash at all.

Instead, RTMs print out paper vouchers that consumers bring to the register in exchange for cash. Once the retailer receives the voucher, KAL software immediately deposits the money spent into the retailer’s connected bank account, in what KAL calls a “back-to-back transaction.”

KAL says its RTMs cost 90 percent less to operate than traditional ATMs since they don’t need to be regularly stocked with cash. Oh, and it offers video conferencing too, letting customers connect live to a bank call center.

Read KAL’s official release here.

Comments
Also by This Author
What's Hot
B2B Payments
Europe Gains Western Union Money Transfer Options
Acquiring
EMV Company To Acquire EFT Source
B2B Payments
New Deal Brings IT Services And Cloud-Based Travel Management Together
Mobile
Best Buy Offers Gloomy Outlook
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
Europe Gains Western Union Money Transfer Options
News
An Export Strategy To Bolster A U.S. B2B Workforce
Acquiring
EMV Company To Acquire EFT Source
B2B Payments
New Deal Brings IT Services And Cloud-Based Travel Management Together
View All Articles ››