STRATEGIC PARTNERS
December 2, 2003
CINCINNATI, Ohio - Cash Carriers USA has signed a letter of intent with The ATM Exchange, a provider of ATM refurbishing, parts, training and technical support, to upgrade 580 ATMs with ATM Exchange's 3DES Plus, a security solution that makes a variety of ATMs compliant with Triple DES requirements.
MasterCard International's deadline for all ATMs to be Triple DES compliant is April 1, 2005. Several regional EFT networks, including Star and Pulse, are asking their members to ensure ATMs are Triple DES compliant by Dec. 31, 2005.
Cash Carriers, a Richardson, Texas-based provider of armored car, cash replenishment and other ATM services, is one of the first companies to implement 3DES Plus, a conversion device that can be used to upgrade many popular ATM models with a new mini processor and encrypting PIN pad (EPP).
(See related story Companies offer TDES upgrade alternatives)
Jerry Gregory, chief development officer for Cash Carriers, said his company will install 3DES Plus on 580 NCR 5670 ATMs for one of its customers, an ISO.
Gregory said that Cash Carriers expects to use 3DES Plus to upgrade more than 2,000 ATMs for its financial institution and ISO customers in the southwestern U.S. Cash Carriers has included 3DES Plus in sales of refurbished machines for the past few months and will begin installing the device on those machines when it becomes available in February.
"A lot of smaller financial institutions lose money on their ATM programs, so spending big bucks on new machines isn't an option for them," Gregory said. "It's a huge benefit for us, and for our customers, to have a cost-effective upgrade alternative."
"ATM owners are racing to meet yet another compliance deadline and they need peace of mind that the security solution they choose is affordable and works on a variety of machines they already deploy," said Dave Parlin, chief executive of The ATM Exchange. "We designed 3DES Plus with the multiple needs of ATM owners in mind, particularly smaller owners such as independent community banks and credit unions."
