CINCINNATI - Bill Mercer, formerly of ATM Exchange, has opened a new ATM business, ATeeM Financial LLC. Mercer opened the company in June, shortly before Airis ATM Technologies' acquisition of ATM Exchange. (Read, Airis takes ATM Exchange brand.)
Mercer, who has more than 30 years of experience in the EFT and ATM industries with companies including ATM Exchange, Burroughs and Diebold Inc., says his new company will provide new and refurbished ATMs and parts to independent sales organizations and financial institutions. "Companies that started as brokers and refurbishment companies 20-plus years ago have been forced to reinvent themselves significantly," Mercer said. "Profit margins are squeezed more than ever with increased costs and reduced service-contract revenue. And cost is an increasingly critical component. These cost pressures have spawned an opportunity for a reduced-overhead, niche supplier."
ATeeM is part of the Financial & Security Products Association, of which Mercer is the president.
