Going Cashless During the Pandemic
Many businesses and merchants decided to or were mandated to go cashless during the ongoing health crisis because physical currency proved to be a very easy way to spread the virus as it exchanged hands.
Both sellers and buyers suffered, as many individuals all over the globe are still unbanked or underbanked which means they don’t have a debit/credit card or access to a mobile wallet. This alienated a good amount of people from being able to purchase goods and services from cashless only vendors.
This frustration birthed the idea of the Reverse ATM, a freestanding kiosk that allows customers to convert their physical currency notes into a prepaid, active EMV card. Here at Azimut, we were all in on this idea and pioneered one of the first deployments of these kiosks in a sports stadium in Toronto.
Cash to Card within 60 Seconds
Our kiosk helps customers go from cash to card in 3 painfully easy steps.
- Insert desired amount of cash into the machine
- Receive active EMV card with exact amount inserted
- Start spending!
The kiosks are equipped with large 40” touchscreens that run a very easy-to-navigate UI which helps you go from cash to card with three taps of your fingertip and the whole transaction takes just one minute.
The cards dispensed by the Reverse ATMs share the same security features as any other VISA or Mastercard. This means that these cards adhere to the same security and payment standards as any EMV card provided by your bank. This also means that the cards will be widely accepted by merchants all over the world.
Reverse ATMs for Your Cashless Venues
Azimut’s Reverse ATM technology promotes cashless venues for all by not alienating cash customers. Join the cashless revolution while remaining inclusive and accessible by all kinds of customers. The use case for this technology is endless and soon we’ll see them pop up in all major public hotspots as cashless payments become the norm around the globe.
Early Empirical Analysis. Covid-19 Impact on Self Service
We have wide ranging expertise in equipping service areas in banks, hospitals, pharmacies, government organizations, supermarkets and retail stores. Our self service solutions help empower you to take a step further in delivering seamless customer experiences.
What is a reverse ATM?
A reverse ATM is the opposite of a conventional ATM; it accepts cash and dispenses an active prepaid EMV card that is ready to use at any POS terminal that accepts VISA or Mastercard.
How does a reverse ATM work?
Our reverse ATMs use a simple 3 step process to go from cash to card; 1. Insert your desired amount of cash into the machine, 2. Kiosk will dispense an active card with a limit equal to the inserted amount, 3. Start spending!
Where can you use a reverse ATM?
Reverse ATMs can be found at cashless venues such as major league sports stadiums, hotels, airports, malls and other similar public locations that are starting to go cashless.