News

Combination self-service and ATM units add value for retailers

June 29, 2004

Consumers will embrace technologies that make their lives easier. That's why the retail industry is embracing ATMs that also provide self-service functionality.

Whether you call it an ATM or a kiosk, what's really important is creating cross-functional applications that generate opportunities for convenience and revenue growth.

Pioneering retailers are beginning to recognize the potential of using ATMs to offer value-added services such as pre-pay, check cashing, money transfer, loyalty programs, gift cards and even ticketing.

Tranax began to consider converging its ATMs with self-service kiosks when it realized the proliferation of stand-alone, off-premise kiosks would eventually lead to stagnation in the ATM marketplace. Tranax developed the Mini-Bank 2500 as an ATM that could be expanded to provide self-service functionality.

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The Mini-Bank 2500 is more than an ATM. It delivers exceptional value, increases revenue opportunities and provides limitless expansion capabilities.

"We essentially developed the Mini-Bank 2500 as a way to introduce innovative services and new revenue streams for ATM owners," said Scott Holt, product manager for Tranax Technologies Inc. "We noticed that consumers were using self-service kiosks very near Tranax ATMs. That's when we realized we should combine these into a single unit."
The combined units not only lower ownership costs: they also provide new revenue opportunities. "At many movie theaters the ticketing kiosks were on a wall opposite Tranax ATMs," said Holt. "We started asking, `Why would you purchase two machines when you could get everything wrapped into one?' "

The Tranax Mini-Bank 2500 Ticketing Solution integrates the ATM with self-service ticketing technologies for an all-in-one unit with dual functionality.

Customers who use the ticketing solution can retrieve and print tickets purchased online, complete self-service ticket purchases -- using credit cards, debit cards or cash -- and complete standard ATM transactions, including cash withdrawals and balance inquires.

Can ATMs and kiosks co-exist?

Convenience is the key to the popularity of off-premise ATM machines. When people use an ATM, they want quick transactions and they don't want to wait.

Will consumers who want quick cash grow impatient with the person checking e-mail or looking for movie tickets?

"We are not looking to replace all ATMs," said Holt. "We look at ATMs and kiosks as complementing each other."

According to Holt, combining ATMs and self-service offers great value for the retailer. Combination units help reduce purchase and equipment costs.

But the advantage of the unit goes beyond its low cost. The real benefit is the ability to extend the brand by adding self-service applications at a later date. "The Mini-Bank 2500 offers much greater value than any standard ATM," said Holt.

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[Editor's note: Info Touch Technologies became Tio Networks in April 2006.]