News
ArcaTech releases cash-recycling, dispensing tech for check-cashing industry
August 27, 2007
MEBANE, N.C. - ArcaTech Systems, supplier of transaction-automation components for the financial, retail and self-service industries, has developed cash-recycling and cash-dispensing technology for the check-cashing industry.
According to the U.S. Treasury Department, the number of check-cashing stores has doubled since 1986. That number is expected to continue growing, with some industry estimates predicting as much as a 600 percent increase during the next decade.
"ArcaTech's cash recyclers and dispensers are helping check-cashing and convenience stores handle larger volumes of cash transactions, while also providing a higher level of security to store employees and customers," said Aubrey Meador, vice president of ArcaTech Systems. "We are currently expanding an in-store, check-cashing program with a large national chain. Their employee-assisted model is providing them with improved return and increased volume as a result of their ability to help customers through the process. As the industry continues to experience such rapid growth, proven tools and technology can quickly help these outlets become successful."
The Arca2000 and Arca2600 Cash Dispensers automatically dispense cash to counter employees before it is passed to the customer. Transactions are faster and more accurate, ArcaTech says. And for check-cashing stores that offer money wires, transfers, re-loadable debit cards and bill-payment services, ArcaTech's Arca8000 Cash Recycler also provides counterfeit detection by checking each bank note for validity before it is deposited into the safe. LCD displays allow users to clearly see instructions on how to identify and correct the most common issues without calling a technician.
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