Article

YourCash to deploy 500 ATMs in convenience stores

January 17, 2011

YourCash Ltd. will install 500 free-to-use ATMs in convenience stores throughout the United Kingdom this year, said Lee Middleton, the company’s director of Change and Marketing.

The company’s ATMs are equipped with General Packet Radio Service, enabling mobile transmission of data. As a result, retailers do not have to install a telephone line for the ATMs if the machines remain in the same location within the store, Middleton said. 

To reduce deployment costs, merchants fill the ATMs with the stores’ cash. YourCash electronically reimburses retailers’ bank accounts at the end of the business day, replacing funds withdrawn by cardholders, Middleton said. Retail customers can use the ATMs to add minutes to their mobile phone accounts and to check bank balances.

YourCash also signed an agreement with iDesign to provide on-screen advertising for ATMs. London-based iDesign promotes in-store sales on ATM screens. This strategy encourages cardholders who withdraw funds from ATMs to spend some of the money with the retailer before leaving the store. IDesign also promotes advertising campaigns for mobile telephone operators, DVD providers and other vendors whose products are not sold in the store.

"Your Cash offers the convenience market a total ATM experience,” said Jenny Campbell, chief executive of YourCash, which has its headquarters in Milton Keynes.“From our established surcharging ATMs to more technologically advanced free-to-use ATMs, we can offer our customers a solution that will not only suit their business but also benefits their business and ultimately their customers.”

YourCash was formerly known as Hanco ATM Systems Ltd. Royal Bank of Scotland Group owned the business until Hanco ATM

 Systems’ management purchased the company in a leveraged buyout. The deal became effective October 1.

YourCash has deployed 1,700 free-to-use ATMs throughout the U.K. and 600 free-to-use machines in the Netherlands. Company officials said YourCash controls 32 percent of the free-to-use ATM market in the United Kingdom. The company has deployed 6,000 ATMs overall.