News

Infonox 'software as a service' chosen by CashWorks

August 2, 2005

SAN JOSE, Calif. - Infonox, specialist in building, operating and delivering extensible, aggregated services and multi-application payment platforms has partnered with the CashWorks division of GE Consumer Finance to develop and operate their Advanced Function Kiosk network.

A network of CashWorks-owned Advanced Function Kiosks is currently being rolled out at large retail chains across the country. The initial rollout on the kiosks include self-service payroll and government check cashing, instant bill payment and on-the-spot debit card dispensing with monetary value that can be accessed on any ATM or POS debit networks.

The AFK solution includes kiosk-resident software to manage peripherals, transaction and services workflows, kiosk management and driving, transaction switching, 24/7 monitoring, help desk and support functions that include real-time reporting, settlement and reconciliation functions.

"Infonox's products simplify the ability to link devices, transaction services, back-end payment providers and operations in an on-demand fashion," said Dr. Safwan Shah, president and chief executive officer of Infonox. "Our extensive experience in self-service delivery of financial service has enabled us to provide very compelling differentiators to CashWorks."

The AFK solution demonstrates Cashwork's creation of their "hub-and-spoke" model for delivery of financial services. Other Infonox customers have previously applied the "software as a service" model across the United States with significant commercial success. For example, in the entertainment and gaming markets, Infonox has applied its "software as a service" model on several thousand transactional endpoints, such as biometric ATMs, kiosks and thin-client PC systems.

"The CashWorks partnership validates the Infonox model and establishes the 'software as a service' paradigm as an effective way to maintain competitive edge in a very demanding market," added Shah.