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Cash at your service!

March 28, 2013 by Richard Buckle — Founder and CEO, Pyalla Technologies, LLC

A few days ago I was paging through photos I took with my smartphone at the ATM Industry Association (ATMIA) conference in Scottsdale, Ariz. I came across a snapshot of my wife, Margo, checking out a robot from Hyosung as it patrolled the lane in front of the Nautilus Hyosung booth.

Margo inquired at the booth and was told that this was a robotic ATM/kiosk that offered some capabilities tied to ATM cards — the card reader was clearly evident on the front of the device.

Since taking another look at this photo, my mind has stepped into overdrive thinking about the possibilities such a robot could provide.

Earlier in the week, I had a phone conversation with Integrated Research America president, Andre Cuenin, whose company provides financial institutions with monitoring solutions for their ATM networks. He called me from a departure gate at the Denver airport, and was quite candid about the fact that he travelled with little cash these days — about the only use he had for it was to get his shoes polished and pay an occasional tip.

However, it has been my experience when arriving at a foreign destination that getting my hands on a little local currency is always a priority. Wouldn't it be great if a robot ATM could be found motoring around the baggage area?

Perhaps, in time, the robot will become a recognizable face no matter where you travel, and will be only too happy to dispense a few notes so you can head to the nearest taxi! After all, there's almost no more secure place than the arrivals area of an international airport, and a couple of burly lads trying to leave with a couple of hundred pounds of robot would be quickly spotted.

And how about the mall? Traditionally, ATMs have been housed in out-of-the-way locations, although of late, I have noticed more of them appearing in food courts. But what if robot ATMs freely patrolled the entrances of popular stores?

It's the holiday season and you have no idea whether you have hit the limit on your credit card and you are not all that sure you want to hand over your debit card to a complete stranger — so pulling a little extra cash out of your friendly robot may just be the trick!

Airports and malls represent small marketplaces, no matter how you look at them, and perhaps the investment in a cash-dispensing robot doesn't appeal to you. There are many instances, however, when the thought of a mobile ATM/kiosk mobile does seem attractive and, at a time when we carry various devices with us (our collection of smartphones and tablets), it seems quite possible that the travelling ATM could have a future. Having robotic ATMs at sporting events and concerts might be the go, as attendees always seem to be in need of cash for the quick purchas of a pennant or T-shirt.

Following my conversation with Andre Cuenin, Margo and I had lunch with Yash Kapadia, CEO of OmniPayments Inc. I have often referenced Yash in posts, as he is enjoying considerable success of late. Having provided consulting services to financial institutions for many years, Yash is now selling a new payments platform.

The one thing Yash has an eye for is trends and product opportunities, and if robot ATMs do arrive, I know that Yash for one will be all over any new business opportunities they create.

I am not completely sure how we transitioned to the topic — perhaps in reference to the 2013 HP Discover event to be held in Las Vegas — but the idea of simplifying access to cash on casino floors came up.

For as long as I can recall, when you were gambling on a casino floor, drinks would appear, as would cigarettes and cigars; so why not cash? Why should we have to leave our table and head to a distant ATM/bill changer for funds?

Surely, it makes a lot of sense for the ATM to come to us! And there's no better security and monitoring than you'll find in a casino; so again, very little chance of anyone physically removing a robot ATM.

Supporting networks of robot ATMs may make little sense for mainstream financial institutions. However, what has become a serious matter is the stagnant state of the ATM marketplace in mature markets.

The lack of creativity is something that appals me. As the adage goes, if we keep doing what we've been doing, we'll keep getting what we've been getting. Isn't it time to think about doing something completely different with ATMs?

Numerous suggestions have appeared in comments posted to this blog: integrating ATMs with kiosks as well as other product dispensing devices; dispensing stamps, lottery tickets, airline boarding cards (or their images directly to our smartphones and tablets). All are ideas that have legs and have produced advocates and evangelists. For this, I am particularly grateful, as it shows that some folks remain imaginative.

Yes, the robot from Hyosung may have just been a trade show gimmick. I never did find out the specifics and perhaps upon reading this post, someone will advise me — I sure would like to know more.

On the other hand, can we rule out something like a robot ATM becoming a mainstream device? How many of us would ever say no to getting a little extra cash if the dispenser were right beside us? As portrayed in books and movies from times past, those who had cash always had an ever-present assistant to handle mundane tasks such as going to withdraw some of it. A return to these days may just be in the cards.

About Richard Buckle

Richard Buckle is the founder and CEO of Pyalla Technologies, LLC. He has enjoyed a long association with the Information Technology (IT) industry as a user, vendor, and more recently, as an industry commentator, thought leader, columnist and blogger. Richard participates in the HPE VIP Community where he is part of their influencer team.

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