Source: ATM Marketplace
Oct 21, 2014 - Rototype International recently teamed up with Orange Apple Technologies Ltd. of Nigeria to introduce the Rototype Cashless ATM — a self-service machine designed to maintain the familiar experience of a cash dispensing ATM — without the cash.
A company news release said that the Rototype Cashless ATM is based on a shared ATM concept in which shoppers pay for purchases using their ATM card — thus eliminating cash handling between the shopper and merchant. The machine instantaneously debits a payment to the merchant’s account, reducing the risk of robberies or pilfering.
Besides realizing substantial savings from decreased cash handling, participating banks benefit because new merchant customers would need to open operating accounts with the bank. A large and profitable market segment can be found by capturing enough of these long-tail merchants, the press release said.
According to Rototype International Group CEO Harres Tan,“Nigeria is now equipped with the right infrastructure and its people are ready to embrace technological advancements. We look forward to continue expanding our presence in West Africa through forward thinking companies such as OAT.”