Of Special Interest
10th January 2012
Reawakening ATM standard cassette initiative
The European Payment Council is trying to put some industry urgency behind the attempts to standardise ATM cash cassettes and the Intelligent Banknote Neutralization Systems (IBNs) between manufacturers and models.
It was estimated back in 2010 that the cost of wholesale cash distribution in Europe was around €84bn (£69bn $107bn ¥8.3tr Y678bn). The EPC points to the significant additional costs involved because of the many different ATM cassette sizes in use and that IBNs must be customised to each one. The different sizes add to inventory costs, filling costs, transport costs because of packing space and also situations where one ATM may have run out of money but cannot be refilled quickly because nearby cassettes are of a different size. There are also additional training costs to be considered.
The EPC detailed the arguments for standardisation back in July 2011 and is using the new year to try and encourage progress. It accepts that re-engineering existing machines is unlikely and that it would be a question of phasing in a new standard. The EPC also comments that whilst the larger long term savings will come from increased usage of electronic payment this should not prevent initiatives that save costs related to cash payments which will be in use for a considerable time to come.