News

VERO and Tranax provide self-service check cashing solution

February 14, 2006

PORTLAND, Ore. - VERO Inc., a financial services technology provider, announced in a news release a marketing relationship with Tranax Technologies Inc., a self-service technology innovator. The two companies will partner to deliver a new self-service check cashing solution that offers retailers and casinos more control and greater revenue opportunities.

With a strong presence in the automated check cashing and self-service kiosk industries, VERO and Tranax together offer exclusive and essential improvements to the retail self-service financial solutions market. VERO's proprietary fraud engine powers a check cashing kiosk that cashes more checks with a lower degree of risk for fraud. Tranax brings innovation to new and existing customers with its proven and trusted hardware platform for delivering ATM transactions.

"Retailers are asking for a check cashing solution with additional fraud protection and the power to manage their check cashing risk," said Jeffrey Lee, director of sales for the self-service products group at Tranax Technologies Inc. "By partnering with VERO, we are able to fill a void in the marketplace and take the self-service kiosk experience to the next level for our distributors and their customers."

Featuring both ATM and automated check cashing services, the new kiosk will be available later this year following a pilot program.