News

Vero, Tranax join forces to provide self-service check-cashing solution

February 14, 2006

PORTLAND, Ore. -Vero Inc., a financial-services-technology provider, announced in a news release that it has entered into a marketing relationship with Tranax Technologies Inc. to deliver a new self-service check-cashing solution that offers retailers and casinos more control and greater revenue opportunities.

With a strong presence in the automated-check-cashing and self-service industries, Vero and Tranax together offer improvements to the retail-self-service financial-solutions market. Vero's proprietary fraud engine powers a check-cashing kiosk that cashes more checks with a lower degree of risk for fraud. Tranax brings innovation with its hardware platform for delivering ATM transactions.

"Retailers are asking for a check-cashing solution with additional fraud protection and the power to manage their check-cashing risk," said Jeffrey Lee, Tranax' director of sales for self-service products. "By partnering with Vero, we are able to fill a void in the marketplace and take the self-service kiosk experience to the next level for our distributors and their customers."

"We have committed significant resources to developing a fraud engine that supports the market demand for improved check-cashing results," said Matthew Buhler, Vero's executive vice president of sales and marketing. "Our partnership with Tranax provides a strong foundation for delivering the control required by retailers in tandem with the flexibility demanded by consumers."

Featuring both ATM and automated check-cashing services, the new kiosk is expected to hit the market later this year, following a pilot program.