ATM with money recycling function: Russian banks will take advantage of the capital’s development
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An ATM with a money recycling function, which is already being tested in more than 30 banks throughout Russia, was presented at the Innoprom International Industrial Exhibition by the Moscow-based SAGA Corporation.
“Last year, the Moscow ATM was included in the register of Russian industrial equipment of the Russian Ministry of Industry and Trade and in the list of devices recommended by the Central Bank of Russia for use by credit institutions,” said Vladislav Ovchinsky, head of the Moscow Investment and Industrial Policy Department.
He added that the ATM has an authentic patented design. The device is equipped with a money recycling function. That is, banknotes from one client can be immediately issued to another without going through processing at the bank. This will reduce the cost of collection, as well as optimize operating costs. At the moment, such devices have already been installed by VTB and MTS-Bank. More than 30 banks are testing them.
The novelty meets all the requirements of the domestic market of self-service devices. The ATM is able to record on video, print checks, read bar and QR codes. Its body and details are made of vandal-resistant materials, and the screen is made of protective glass “from peeping”.
According to Andrey Zholobov, CEO of the corporation, the product is not inferior to foreign analogues. The company plans to maximize the share of Russian components in development.
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