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ICash Payment Systems Ltd., an ATM deployer and vendor in Australia, has a signed a deal that will enable consumers to use wireless ATMs, according to a statement from Symstream Technology Group Ltd., the Australian firm providing technology for the effort.
The deal, which also involves Australian telecommunications vendor SingTel Optus Pty Ltd., will connect iCash cash machines to mobile networks. "ICash processes millions of ATM transactions annually, and the adoption of Symstream [technology] by iCash will reduce communication costs, significantly increase the speed of transactions and facilitate faster ATM rollouts," Kim Stewart, iCash CEO of Australian operations, said in the statement. ICash has a network of more than 800 ATMs.
The deal enables iCash to deploy ATMs in such places as outdoor concerts and other live venues and to move ATMs in response to changes in pedestrian traffic, Matthew Sinclair, executive director of Australia-based Carpadium Consulting, tells CardLine Global, an ATM&Debit News sister publication.
The wireless ATMs also could thwart some types of ATM crime, he adds.
"We have seen a spate of ATM robberies in Sydney where organized crime gangs have been blowing up ATMs in banks to get at the cash boxes," Sinclair says. "A wireless ATM could be rolled to a public space for use during office hours and then put away after hours to reduce this risk." ATM
