NORTH CANTON, Ohio Diebold Inc. and Innoventry Corp., which sells RPM Cash Management Machines that are similar to automated teller machines but targeted to the unbanked, have signed a deal to produce and distribute check-cashing kiosks that use biometrics to identify users.
Diebold, an ATM manufacturer, will provide the hardware. Innoventry, of San Francisco, will supply the software and deploy the machines in retail stores.
The agreement will last three years or until a minimum of $100 million in Diebold equipment has been purchased. The $100 million target does not include a 1,400-machine lease agreement the companies made in November.