News

Moneybox intros lower-cost ATM program

July 8, 2003

LONDON -- Moneybox, an independent supplier of ATM services, has introduced Moneybox Direct, a program that gives merchants a direct route into ATM ownership by allowing them to apply for ATMs over the telephone.

According to a news release, the program offers merchants an NCR EasyPoint 53 ATM for a cost as low as £2,750 ($4,484 U.S.) Moneybox will deliver and install the machine at no cost and train the merchant on ATM maintenance, including cash replenishment. The merchant will receive up to £1.15 ($1.87 U.S.) of the transaction fee.

In addition, Moneybox is offering competitively priced finance options to help meet the initial cost of purchase of the ATM.

According to the release, the Moneybox Direct package has been made possible by eliminating the sales force and demanding better pricing from key suppliers.

Paul Stanley, Moneybox's chief executive, said this reflects Moneybox's belief that the ATM market is now a commodity market requiring a sales approach that reflects how other commodity suppliers operate -- selling direct and at the lowest price.

He said, "Moneybox already manages one of the largest independent cash machine networks in the UK, but we believe that if the economics of the cash machine proposition can be made sufficiently attractive there is scope for considerable further growth."

Moneybox installed its first ATM in June 1999 and now owns and manages more than 2,200 ATMs in the UK. Its fleet includes owned-and-operated, fully-managed ATMs, merchant replenished ATMs and, recently, ATMs managed on behalf of financial institutions.