Business

KAL Launches Cashless ATM In New York's Time Square  E-mail
Thursday, 21 June 2012 03:07


Global ATM software company, KAL, launched the retail teller machine (RTM): which is a revolutionary cashless ATM set to transform branchless banking forever.

The Times Square New York launch showcased KAL's RTM – a machine that provides all ATM transactions including cash-out and cash-in - but has no cash inside the machine.

Operating at one tenth of the cost of bank ATMs, RTMs do not dispense cash. Instead they print a unique voucher which is then exchanged for cash inside the same store. The retailer is immediately compensated by the RTM which executes a back-to-back transaction. This remits the dispensed amount into the retailer's bank account.

Running the same software as ATMs, the RTM provides a full range of banking services and even includes the ability for the customer to video conference with a bank call center.

For more Times Square articles like KAL Launches Cashless ATM In New York's Time Square , please visit the Business News Section of TimesSquare.com