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Hyosung intros bill recycling module for ATMs

August 18, 2003

SEOUL, South Korea -- Nautilus Hyosung has introduced its first Bill Recycling Module (BRM) units, which can be used in ATMs or kiosks.

According to a news release, the BRM can provide both cash deposit and withdrawal functions by recycling the deposited notes within the unit.

ATMs, kiosks and vaults using BRM units have been installed at banks in East Asia, especially in Korea, Japan and China.

Hyosung's BRM won lots of attention at the CeBIT 2002 and 2003 shows, where it was exhibited under the name Vertical Bill Recycling Module (V-BRM).

According to the release, the V-BRM's slim design requires much less space than other cash recycling ATMs because of the vertical placement of the deposit and withdrawal modules. The V-BRM not only detects counterfeits, but also rejects them so that they cannot be deposited into the ATM. Moreover, maintenance can be performed from both the front and rear of the machine.

Currently, the V-BRM supports U.S., Japanese and Korean currencies; euro will be supported soon. Several manufacturers believe that there will be increased interest in cash recycling in Europe due to recent approval from the European Central Bank for such devices (See related story ATM cash recycling clears regulatory hurdles)

According to the release, several manufacturers have approached Hyosung in regard to development and sales partnerships for the V-BRM.

Hyosung is a leading Korean ATM manufacturer that produces 15,000 ATMs annually. Hyosung has exported ATMs to such countries as the United Kingdom, Japan, Australia, China and India. In the United States, Hyosung has been distributing Mini-Bank ATMs to the off-premise market through Tranax Technologies.

Hyosung installed and operated ATMs at stadiums during the 2002 FIFA World Cup and 2003 Daegu Universiade events in Korea.

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