InnoVentry, Travelers Express test delivery of self-service money order, wire transfer services

SAN FRANCISCO - InnoVentry Corp. and Travelers Express Company Inc. have signed an agreement to test Travelers Express money orders and MoneyGram money transfer services on Internet kiosks developed by InnoVentry.

The companies recently began testing self-service delivery of money orders on cash-accepting Internet kiosks in two InnoVentry concept stores in the Phoenix area, the city where InnoVentry tests products and services it will include on its RPM cash management machines.

RPM machines provide secure check cashing with advanced facial recognition technology to identify the customer, eliminating the need for cards or personal identification numbers (PINs). This technology, according to Innoventry, extends the convenience of traditional ATMs to the 40 million Americans who cash checks outside of banks. RPMs are touchscreen activated and include a multimedia second screen that can deliver customized educational and promotional messages in English and Spanish.

The MoneyGram wire transfer service will be added to the pilot early next year, and both companies hope to incorporate the money order and wire transfer services on InnoVentry's RPM cash management machines in the near future.