Once upon a time, it seemed miraculous to stick a card in a machine and get back a fistful of twenties. But today people expect a lot more from an ATM—and Irving-based Hyosung America just launched some new products to deliver it.
Since it entered the North American market in 1998, Hyosung says it’s grown from the largest provider of ATMs in the U.S. to offering what it calls “best-in-class” technology solutions in the cash management and payments realm.
North America is a key strategic market for the global company. Hyosung America, which moved its headquarters to expanded offices in Las Colinas in late 2020, is focused on ensuring that its product is relevant for today’s market, and beyond, it said at the time.
Its four newly launched machines offer benefits including “immersive touchscreens”; the ability to make cryptocurrency purchases; cash in/cash out features for payments, gaming, and more. They also have improved security baked in, with some featuring NFC readers, barcode scanners, and “ticket-in and ticket-out features.”
Creating more transactions—and more retail store foot traffic
After years of the pandemic, physical shoppers can still be scarce in retail stores. That’s left businesses nationwide hungry for new products that can “create more transactions and thus foot traffic for retailers,” Marvin Bowers, VP of retail sales for Hyosung America, said in a statement.
Hyosung aims to satisfy those “lofty goals” by releasing what Bowers calls “transformational” new solutions.
Developing ATMs for the future
The new Hyosung products, pictured from left to right in the photo above, include:
Beginning with the basics, the Hero is the flagship of Hyosung’s cash-dispensing ATMs. It features a new bill presenter employing “spray dispense” technology along with improved security and auto recovery capability. The Hero now includes enhanced physical protections including a redesigned safe door and an optional UL291 L1-rated safe.
X10 Cash-in-Sidecar: A modular solution for crypto and more
With this machine, cash doesn’t just come out, it can go in, too—offering with what Hyosung calls “the cornerstone of one of the industry’s most advanced cash-in/out solutions.” Its modular design allows the X10 to support a myriad of customer experiences, the company says, including “cryptocurrency purchases, payments, and gaming ticket redemption.”
“The device can be ‘bolted on’ to existing Hyosung cash dispensers to transform them into full-function devices,” adds Brad Nolan, Hyosung America’s CMO. “It’s an upgrade, not a replacement.”
“Immersive” Series X MetaKiosk
Designed to attract and engage customers, the MetaKiosk offers a large, immersive touchscreen, barcode scanner, NFC reader, ticket-in and ticket-out capability, and more. This interactive machine’s “inherently flexible design” allows for easy integration and low-cost upgrades to support multiple self-service solutions, Hyosung says.
Both the X10 Cash-in-Sidecar and MetaKiosk will be supported by Hyosung’s soon-to-be-launched app store. Any ATM operator using Hyosung’s retail software platform will be able to subscribe and download apps including DigitalMint cryptocurrency, Money Remittance, and Bill Pay. The apps will enable their ATMs to do more, “driving new revenue streams for the operators and the retailers with whom they partner.”
Cajera is Spanish for “cashier.” The CR-E is meant as an entry-level “cash recycler” for stores of all sizes, including smaller stores that typically don’t offer ATMs.
“Traditionally, cash automation has been reserved for larger, higher transaction volume retailers,” said said Michael Graham, VP of retail strategy and solutions for Hyosung America. “However, the Cajera CR-E provides cash automation for lower-volume, smaller-staffed retailers who previously couldn’t justify high end cash recycler products.”
Cash recycling enables an ATM to accept cash payments or deposits, then store the banknotes to be dispensed to other customers. This lessens the need for cash replenishment costs, by circulating the cash directly within the machine.
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