News

PDNB providing cash services for Info Touch kiosks

June 28, 2005

PALM DESERT, Calif. - PDNB-Electronic Banking Solutions (EBS), a division of Palm Desert National Bank, has signed an agreement with Info Touch Technologies, Inc., a publicly traded Canadian company that supplies retailers with kiosk software and end-to-end service solutions, to be the exclusive provider of vault cash and cash management services for Info Touch's bill payment kiosks.

"Info Touch's business model and growth potential is consistent with PDNB's commitment to reach beyond ATMs to the high-growth kiosk deployment segment," said Sandra Hartfield, PDNB-Electronic Banking Solutions' president and CEO.

PDNB-EBS will fund Info Touch's cash needs through its "reverse vault cash" program, which allows for efficient cash collection from bill-accepting kiosks. Additional cash management services will include terminal balancing and reconciliation, settlement payments and ACH services to Info Touch's application providers.

"Info Touch now has an experienced partner that can service our growth requirements, assist in reducing our expenses and free up management time to pursue its core objectives of growth and profit," said Hamed Shahbazi, chairman and CEO of Info Touch Technologies.