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NCR intros wireless ATMs in India with Symstream
August 12, 2007
MUMBAI, India - NCR Corp. has announced an alliance with wireless technology provider Symstream Technology Ltd. to introduce wireless connectivity for ATMs in India.
According to a news release, Symstream II, a wireless modem for mobile communications connectivity, will allow banks in the country to deploy ATMs to remote sites, enabling banks to offer services to the country's unbanked, rural population.
The solution uses voice channel, unlike traditional general packet radio service connectivity that uses data, making it more reliable and fast, according to Symstream. The technology uses a proprietary algorithm-based symbol.
"The integration of Symstream II with NCR's ATM will provide the market with a faster one-stop-shop approach to what has historically been a complex and difficult solution to provide," said Mark Gamon, Symstream's sales and marketing director. "Leveraging NCR's multifunction ATM-technology capabilities and its distribution strength, combined with our world-leading wireless technology, we are confident to overcome the many barriers to entry in developing countries."
Unlike traditional dial-up, wireless ATM transactions are two to three times faster, resulting in higher transaction volumes and easier customer access to cash, Symstream says.
"This alliance represents a further strengthening of NCR's strategy to develop complete end-to-end solutions, moving away from selling stand-alone products," said Manjunath Rao, country manager of sales for NCR's financial solutions division. "With this particular solution, we have found a partner with technology capabilities that seamlessly integrate with our products and allow us to offer mobility to ATMs, which is a key enabler for banks in India to reach the unbanked population."
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