Cash Technologies, Inc. announced that it has signed a software licensing and payments-gateway agreement with transaction processor Premier Processing Alliance, LLC (Premier), a joint venture of ATM network operators Community Merchant Services, Inc. (CMS) and Welch Systems, Inc., credit card processor Nobel Electronic Transfer, LLC and Quad Cities Bank. This installation will be the first of its kind, incorporating software distributed by Cash Tech under its previously announced agreement with TII Smart Solutions. Through this arrangement, Cash Tech will gateway all of Premier’s nearly 1,000,000 transactions per month. In addition, Cash Tech’s EMMA (E-commerce Message Management Architecture) system will enable Premier’s 2,500 managed sites to take advantage of value added applications, such as check cashing, bill payment, Internet applications and other advanced services.
Cash Tech will be integrating the traditional ATM and POS processing capabilities of TII’s software with the advanced functionality of EMMA. According to Bruce Korman, CEO of Cash Technologies, “This is the first example of our cookie-cutter plan to roll out EMMA transactions throughout the ATM industry. The approach offers a cost effective path for ATM network operators to migrate from conventional to advanced function transactions. EMMA provides access to conventional EFT networks as well as the Internet and a wide variety of advanced function hosts.”
The implementation plan calls for the system to be driving its first revenue-generating transactions by May 31, 2001.
Bob Miller, Marketing Director of Premier and Senior Vice President of CMS, added, “Cash Tech’s solution allows us to reduce costs by bringing our conventional ATM transaction processing in-house, while EMMA’s functionality puts us ahead of the curve in the marketplace by enabling new services — the best of both worlds.”
Illinois-based Premier Processing Alliance, LLC, offers debit and credit card transaction processing and settlement to the ATM and retail industries. Premier is a newly formed joint venture of transaction processor Nobel Electronic Transfer, LLC ([http://www.nobel-net.com]), Quad Cities Bank and ATM network operators Community Merchant Services, Inc. ([http://www.cms2000.com]) and Welch Systems, Inc. ([http://www.welchsystems.com]). CMS and Welch operate nearly 2,500 ATMs in 48 states. Nobel provides credit card acquirer and cardholder processing and authorization for 73 banks serving more than 14,000 merchants in the U.S. and internationally.
About Cash Technologies
Cash Technologies, Inc. ([http://www.cashtechnologies.com]) develops and markets innovative e-commerce systems, including the EMMA(TM) transaction processing software and the multifunction ATM-X(TM) and POS-X(TM) client software. Through EMMA, consumers and businesses may access a wide variety of financial services via ATMs, POS terminals and the Internet. Check cashing, electronic bill payment, event ticketing, interactive advertising, traditional ATM cash dispensing Internet-based products and other functions will be offered at retail locations and on ATMs using a variety of payment methods, including ATM cards, credit cards, checks and cash.