News

TEKchand licenses ATM advertising software to eFunds

December 10, 2004

CHICAGO - TEKchand, a provider of software for enabling real-time advertising on ATMs, has licensed its flagship product, ATMRewards software platform, to eFunds (Nasdaq: EFDS).

With CU Connect as a customer in Canada, eFunds is the second major North American transaction processor to sign on as a TEKchand client. According to a news release, the company is also in the final stages of acquiring a banking customer in India.

ATMRewards software enables real-time, Internet-based screen changes on ATMs. The product is integrated at the ATM host, and thus does not require hardware, software or network changes at the ATM.

Later this month, the company will unveil version 2.0 of its software, which will enable graphic content development and downloads for any OS/2 or Windows-based ATMs.  

TEKchand customers will initially use the ATMRewards software to automate the current manual process of changing content on ATM screens and receipts. According to the release, processors will be able to offer their ATM customers the ability to self manage the content of "welcome," "please wait" and "thank you" screens on their ATMs via a Web browser.

"Changing ATM screen content is just the beginning," said Rajeev Bahri, TEKchand's managing director. "As our customers get more comfortable with our product, we hope to see them deploying the enhanced functions of our platform -- such as on-demand ATM coupons, polls, and e-commerce."