News

InnoVentry adds another retail customer

February 17, 2002

SAN FRANCISCO -- InnoVentry Corp.has signed an agreement with RaceTrac Petroleum to deploy its RPM cash management machines, which include check cashing as well as ATM functionality, in as many as 175 RaceTrac stores in Texas, Georgia and Florida.

The RPM machines use biometric facial recognition technology to identify the customer, which eliminates the need for cards or PINs. The machines are touch-screen activated and include a multimedia second screen that can deliver customized promotional messages in English and Spanish. According to InnoVentry, RPM machines will eventually provide a complete range of financial services, including money orders, money transfers and electronic bill payment.

"The installation of RPM machines adds to our existing convenience services by offering an easy and secure means to cash checks," said Daniel Gordon, finance manager at RaceTrac Petroleum. "Additionally, we're putting cash into the hands of our customers at the point of purchase, which we expect will increase sales revenues."