News

Australian independent signs ATM service contract with NCR

October 14, 2003

SYDNEY - Cashcard, Australia's leading independent ATM provider, has awarded NCR Corporation (NYSE:NCR) a multiyear contract to to maintain and support part of its fleet of some 5,000 ATMs, located at Shell service stations, Greater Union, Hoyts and Village cinemas and other locations nationwide.

Established in 1982, Cashcard has to date processed more than 2.5 billion payment transactions, making it one of the largest independent transaction processors in the region, according to a news release.

"Our extensive ATM network requires support from dedicated organizations that truly understand our business and we appreciate the skills that NCR brings to this section of the payments industry," said Greg Baker, the company's chief executive, in the release.

Justin Corles, NCR Financial Solutions Division vice president for the South Pacific Area, said the off-premise ATM market now accounts for around 50 percent of all cash withdrawals in Australia, and sales of off-premise ATMs had outstripped those of the through-the-wall devices in Australia in the past 24 months.

Cashcard's October 2002 purchase of rival ATM deployer Electronic Banking Solutions kicked off a wave of acquisition among Australia's independent ATM companies. (See related stories Australia's Cashcard grows with purchase of EBS and ISO consolidation continues in Australia)

The company is reportedly preparing to sell Australian $300 million ($195 million U.S.) of its shares to raise capital. (See related story Australia's Cashcard planning big stock sale)