New technology enables ATMs to dispense prepaid cards

New technology enables ATMs to dispense prepaid cards
Tags: Bank / Credit Union, Multifunction ATMs
February 17, 2006

SCOTTSDALE, Ariz. - Recognizing the exponential increase in the use of consumer prepaid cards and the power of accessibility that ATMs provide, Better ATM Services has patented technology that enables banks to use ATMs to dispense prepaid cards to customers.

According to a news release, with the technology ATMs dispense cards at their cash trays.

"Our technology enables bankers to expand the functionality of their machines without costly upgrades," said Better ATM Services president Daniel Oberan. "Not only are the cards stored in the secure vault of the ATM, but bankers can opt for reduced cash inventory, resulting in lower cash management expenses and a major reduction in float expense."