OKI, a telecommunications manufacturer in Japan, has announced it will quadruple the number of banknote denominations that can be handled by its ATM-Recycler G7 by enhancing its currency exchange and public utility payment functions and services. The enhanced ATM-Recycler G7 is immediately available.
The ATM-Recycler G7 adds coin withdrawals, contactless IC card reader/writer and barcode reading functions. In addition to banknote deposits and withdrawals, it provides services such as exchange between multiple currencies and payments for public utility invoices, including payment services for users who do not have bank accounts.
"Drawing on OKI's sophisticated mechatronics technologies, OKI has created a high-performance, industry-leading ATM that accurately recognizes and precisely transports 128 denominations of varying sizes, thicknesses and materials," said Shinya Kamagami, executive officer and general manager of Systems Hardware Business Division at OKI.
Efforts to expand product sales will primarily target rapidly growing emerging markets. The company is targeting cumulative sales of 140,000 units by fiscal year 2014, which includes the sale of earlier models.
