News

Japanese electronics provider hits ATM market with new cash-recycling ATM

November 29, 2009

Japan-based OKI Electric Industry says it has developed its ATM-Recycler G7 cash-recycling ATM for global deployment. Banknotes from multiple currencies can be dispensed, accepted and recycled at a ATM.

According to a news release from the company, OKI has deployed ATMs in Japan and has a strong track record in Asia overall, including in markets in China and Korea. With the addition of the ATM-Recycler G7, OKI says it expects to start selling ATMs to more markets around the world. Shipments and sales are scheduled in March 2010, and will begin in China.

In recent years, the replacement of cash dispensers with cash recycling ATMs, which allow banknotes to be deposited, has increased, not only in Japan but also in China, Korea and other parts of Asia. OKI has launched a multifunctional ATM, ATM 21S, and the space-saving ATM21SX for these markets and has achieved some significant successes.

Demand for cash-recycling ATMs continues to grow in Asia and is quickly gaining momentum in Europe and the Americas.

"OKI has developed (the) ATM-Recycler G7 — a high-performance, high-quality and high-productivity cash-recycling ATM — based on its long experience and extensive achievements in the Japanese, Chinese and Korean markets," said Takao Hiramoto, OKI's general manager of systems hardware. OKI plans to become a top cash-recycling ATM vendor as well as helping to improve their business efficiency by proactively targeting the product at financial institutions and convenience stores."