Software

E-Squared announces cloud-based ATM services

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February 13, 2023

E-Squared Systems Inc., a fintech company, has announced a remote hosting service for ATMs in collaboration with Genmega, a global terminal manufacturer, and Digital Cash Processing, a payments gateway. The service provides a remote-hosted ATM manager that centralizes processes and reduces the need for information processing requirements for individual ATMs, according to a press release.

"The net result for terminal operators is fewer technician visits to terminals, reduced need for hardware and software upgrades to terminals, greater resistance to logical attacks on terminals, and greater opportunities for terminal operators to add revenue-producing functionality quickly and with less downtime," Leland Englebardt, president of E-Squared, said in the release. "All these advantages mean lower costs, higher revenue and more satisfied customers for every terminal using the E2 service."

Englebardt said this service will also help provide the infrastructure to enable integration of tools such as cryptocurrency purchasing.

"ATMs are one of history's greatest consumer innovations and will continue to be the preferred financial services touch point for a long time to come. So-called cash alternatives are plagued with fraud. Meanwhile, financial self-service terminals must adapt rapidly to expanding consumer desires for new services, from the advent of non-physical forms of value like cryptocurrency and central bank digital currency, to growing fraud threats and ever-evolving regulations," Englebardt said in the release. "A different and more efficient infrastructure is needed to enable these changes and E2 provides this infrastructure."