Oct. 5, 2012
Lotte PS Net, the largest retail company in South Korea, has ordered 1,000 CINEO cash recycling systems from Wincor Nixdorf.
The retailer is significantly expanding its cash machine network, which already comprises around 4,000 cash recycling systems, in a project lasting until 2013. Rollout has already begun, with around 200 new systems installed every month.
The Lotte order represents Wincor Nixdorf's largest CRS order to date originating from South Korea. In its announcement of the order, the company said that factors in Lotte's choice of the CINEO C4040 systems were quality, high availability, a small footprint and a security concept that effectively prevents tampering.
Another aspect of Lotte's decision was the fact that CINEO technology allows cash cassettes to be exchanged between individual systems and other CINEO models. This opens up new cash-handling opportunities between the retail and self-service ISO environments of the Lotte organization.
Cash recycling technology, which enables deposited and validated banknotes to be dispensed again, is already well established in South Korea. Among other factors, daily deposits from small-scale merchants considerably extend the interval for replenishing such systems.
For more on this topic, visit the vault cash/cash management research center.