In tie-up with US-based Triton

NEWS TODAY

CashLink Enter ATM Market again: CashLink Global Systems Private Limited has entered into a partnership with US-based Triton, one of the largest manufactures of ATMs and software developers for retail banking, for reselling their products and services in the country.

The association with Triton through marketing of their ATMs and cash dispensers would enable CashLink to make a determined foray into the vending of banking products and solutions with the focus of its parent company HMA which caters to the automation of banking industry. HMA group has a record of being a reliable value added reseller and a volume player in automation products for retail banking since 1988.

"Triton self-service terminals that we have undertaken to sell and service in the India will provide ATM industry its very own machines that are designed to be the most suited for out conditions and cost expectations with highest reliability and security", said P. P. Manjunath Rao, Chief Operating Officer, CashLink at a press meet yesterday.

As the world’s fourth largest manufactures of ATMs Triton has shipped over 120,000 products to over 17 countries last year. The US firm is an operating company of Dover Electronics Inc, a subsidiary of $5 billion Dover corporation. The Prism software of Triton along with its XP platform for ATMs are designed for the traditional banking industry with low-cost features as an alternative to other expensive ATM installations.

"The entry of Triton in India is at the right moment as banking are looking for alternatives to their existing ATMs that involve higher cost of upgradation, having to comply with expensive security and regulations. Triton ATMs, cash dispensers and smart card applications offer low-cost alternative with rich features for better return on investments", said Manjunath. The Indian ATM market is growing at a rate of 35 per cent per annum with addition of around 4,000 machines and in the first three years, CashLink has targeted to sell 3,000 machines.

Besides offering after-sales services to customers through systems engineers and field staff at its 42 offices across the country, CashLink is expecting more business from the third party service providers for Triton’s products. The company is reentering into ATM business after it had exited in 2003, in the hope of leveraging its expertise in retailing banking solutions with Triton’s technology base in design and development of ATMs and other automated solutions for banking and financial institutions.