SCOTTSDALE, Ariz. — Recognizing the exponential increase in the use of consumer prepaid cards and the power of accessibility that ATMs provide, Better ATM Services has patented technology that enables banks to utilize existing ATM machines to dispense prepaid cards to their customers. The technology, which requires no add-on devices, allows banks to penetrate the prepaid card market without major capital expenditures.
Better ATM Services offers banking interests patented firmware that enables ATM machines to dispense prepaid cards through existing cash trays. The cards can be gift cards, phone cards, event tickets, transit passes or any other type of prepaid card. "Our technology enables bankers to expand the functionality of their machines without costly upgrades," said Daniel Oberan, president of Better ATM Services.
Using various stored value cards, marginally profitable ATMs can offer a wider range of products to become an enhanced revenue center. Profitable ATMs can utilize existing traffic to provide more products to existing customers. "Not only are the cards stored in the secure vault of the ATM, but bankers can opt for reduced cash inventory, resulting in lower cash management expenses and a major reduction in float expense," said Oberan.
