Transact Payment Systems Uses NCR ATM Technology to Turn Its Vision into New “Workhorse” for Scrap Yard Businesses Worldwide
ATMs used for payment redemption to soon feature new 2D bar code technology
DAYTON, Ohio – As with many businesses, currency management and operational security are becoming increasingly important in the scrap recycling industry. Transact Payment Systems, Inc. recognized that individual scrap yard customers and management could be better served through automated self-service. An authorized NCR Corporation (NYSE: NCR) reseller, Transact turned to NCR to help make its vision a reality and will soon enhance its offerings with the first U.S. deployment of NCR’s new two-dimensional (2D) bar code reading technology for the automated teller machine (ATM).
Currently, the Transact Cash Payment System enables a secure, automated process for paying customers who bring materials to a scrap yard for recycling, through the innovative use of magnetic striped cards and an NCR ATM. This removes the need to rely on cashiers to handle and manage cash, leading to significant improvements in security and operational efficiency. Management also gains additional accountability in currency management. Customers simply access the NCR ATM located at the site for immediate payment. A database, still image and video record are maintained for each transaction, increasing security and allowing for follow-up research when necessary.
The new 2D bar code readers will eliminate the need for scrap yards to issue plastic cards to their customers on site for payment redemption. Instead, customers will receive a printed receipt that includes an encrypted bar code that can be read by the scanner-equipped ATM. The new 2D technology is significantly more difficult to copy than traditional one-dimension bar codes and has been recently introduced within the U.S. airline industry for passenger boarding passes. The 2D version, which is more scrambled in appearance than the common vertical lines of traditional bar codes, can also hold more information.
Ken Gruber, founder and president of Transact Payment Systems, said, “We recognized that scrap metal is typically purchased from peddlers who require payment in cash. About ten years ago, we started supplying ATMs to the yards and enabling payment via a magnetic striped card. The bar code reader, redundant cash dispensers and coin changers offer a wide variety of advantages previously not available. As an NCR reseller, we can now accomplish this using new, high-quality ATMs with capabilities similar to those used by banks. This system is working very well for our customers and we look forward to expanding the offer globally.”
Brian Pilla, NCR director of Financial Industry Marketing in North America, said, “Much as it did within banks, the use of an ATM self-service system by scrap yards has also helped break down the traditional glass window barriers and subsequent physical security traditions that had grown up around this industry. Plus, the use of an armored cash-in-transit courier to replenish the ATM means cash never touches an employee’s hands. This reduces attendant costs and cash shortages, while offering a secure environment for employees. This is another great example of how integrated, secure self-service technology can make a significant operational difference.”
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