News

Chicago firm takes ATM card-dispensing tech to Europe

April 21, 2008

MESA, Ariz. — Capital Market Technologies has signed a deal with Better ATM Services Inc. to distribute Better ATM Services' patented card-dispensing technology throughout Europe.

Better ATM Services' process enables already-deployed ATMs to dispense gift cards and other pre-paid media from existing ATM dispensers in the same way they dispense cash.

"The agreement with Better ATM Services allows us to make another important step in providing unique solutions to the financial markets in the U.K. and Europe," said Capital Market Technologies chief executive Jack Bouroudjian. "The expected impact of Better ATM Services' technology on businesses ranging from banks to advertisers is quite exciting."

Better ATM Services' distribution option means banks, shopping malls, grocery stores, restaurants, independent sales organizations, advertisers and other business can enable their ATMs to increase profitability.

Better ATM Services' CEO Todd Nuttall said the deal with Capital Market represents another important step for the company.

"We are looking forward to working with CMT to guide our expansion into international markets," he said. "From initial reports, European customers are expected to rapidly embrace Better ATM Services' innovative ATM-based payment card dispensing technology. We anticipate some very creative applications of our technology developing from this relationship."