Tranax Technologies, VALID Systems to premier all-in-one cashing terminal at ATMIA

Tranax Technologies, VALID Systems to premier all-in-one cashing terminal at ATMIA

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Tags: Associations / Conferences, Bank / Credit Union, Bank Automation, Check Cashing, Debit / Credit, Multifunction ATMs, North America, Retail / Off-Premise, Transaction Processing, Trends / Statistics
2/8/08

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NEWARK, Calif. — Tranax Technologies and VALID Systems have announced plans to introduce their all-in-one checking cashing terminal at the ATM Industry Association Conference in New Orleans, Feb. 20-22, 2008.

According to a news release, the benefit of the Tranax 500CS is that it simplifies the check-cashing process for retailers. With a small footprint about the size of the average laptop, the deployer simply plugs it in, and is ready to serve customers. Boasting that the unit is "more than a POS device," the release says it is so easy to use that cashiers can be trained within minutes, and customers enrolled, verified and paid in seconds.

"The 500CS offers the simplicity and flexibility our retail customers need," said Dr. Hansup Kwon, Tranax Technologies' founder and chief executive officer. "With an inexpensive, hybrid solution requiring minimal cashier involvement and built-in ATM payouts, this unit offers the optimal cost/convenience ratio that works for both stores and their customers. Combine that with VALID's high approval rates and negligible loss rates, and you have an ideal product for the retail environment."

The 500CS will be on display and demonstrated in Tranax's booth No. 301 at the ATMIA Conference.

John Templer, VALID's CEO, will be speaking at the event on Feb. 21 in a session about hybrid ATMs.

"The 500CS combines our expertise from the banking industry, by delivering unparalleled fraud prevention and security, with our in-depth understanding of the needs of the retail industry, based on years of experience," Templer said.