News

Cash Technologies announces e-commerce platform

February 24, 2002

Los Angeles -- Cash Technologies, Inc. announced that it has filed a patent application related to its electronic commerce (e-commerce) platform with the United States Patent and Trademark Office. The patent application describes technology which enables financial transaction kiosks and other devices to perform a variety of e-commerce functions, integrating conventional ATM and point of sale networks with non-bank networks and the Internet.

"The explosion of Internet e-commerce will soon demand that people have access to these systems when they're not at home or the office, when they're traveling, shopping or just don't have access to a PC. There are also millions of people without online access that could benefit from the emerging e-commerce infrastructure," said Cash Technologies Chairman and CEO Bruce Korman.

The company plans to demonstrate the use of this technology during pilot installations in 1999, beginning with the issuance of real-time activated prepaid phone cards and direct ATM coin deposits on their CoinBank coin machines.