A top ATM executive, who was deeply critical of a UK Payments Council report about the demise of cash usage, has re-joined the organization's board of directors.
"I am delighted that I have been elected to the board a second time. I will aim to play my part in ensuring both that the U.K. has the payment systems required by a modern economy and that the needs and rights of individuals are given due consideration," said Ron Delnevo, managing director of Bank Machine Ltd., one of the U.K.'s largest independent ATM deployers with more than 3,000 machines. Cardtronics Inc., a Houston-based ATM ISO, owns Bank Machine, which has its headquarters in Hatfield, Hertfordshire, England.
Delnevo also is chairman of the European Board of the ATM Industry Association. And in that capacity a few weeks ago, Delnevo blasted a UK Payments Council report that said for the first time spending on debit cards has exceeded spending with cash.
"Put simply, the published figures understate cash usage," said Delnevo. "Whilst every card transaction is of course recorded, the same is not true for every cash transaction. From every mini cab driver to market traders, babysitters to bar tips, cash keeps business moving. Industry experts suggest the cash figure is understated by up to 20 percent or 30 percent, the gap is growing."
Delnevo served on the London-based UK Payments Council's board for a year after it was founded in March 2007. Board members serve one to three years.
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ATM executive re-joins UK Payments Council board
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