IRVING, Texas--(BUSINESS WIRE)--Hyosung Americas has a long-standing reputation as an innovator and disruptor in the ATM and self-service kiosk marketplace. Now, the technology leader has partnered with eGlobal, a Grant Victor company, to reimagine the role of the ATM in the retail store environment. Hyosung is launching a pilot program of Hyosung Pay using the new Pivot ATM that reinvents the role and value of the ATM for both the retail operator and for the ATM consumer.
The Pivot ATM is a new retail cash-recycling ATM from Hyosung Americas that allows for cash-in transactions. It is designed to increase transaction revenue streams and improve overall cash-handling efficiency. The new pilot program, which is launching in October 2024, will begin in selected retail convenience stores and premier hotels in the western U.S. Nationwide availability of this product is scheduled for February 2025. The results of this pilot will drive the future direction of the retail industry.
“In today’s changing financial markets, it is important that we provide transformational solutions for our retail partners,” said Hyosung Americas CPO Michael Graham. “Hyosung Americas is committed to providing our partners with more than just great products but with the technology they need to drive enhanced retail solutions.”
For retail store owners and operators, there are numerous advantages that address the changing retail market for retail self-service solutions that can drive more foot traffic, increase store revenue, and reduce cash handling costs. Using the smarter safe features, merchants can deposit cash from the store tills directly into the recycling ATM, which allows for instant bank credit and a way to replenish cash reserves into the ATM. Merchants can also withdraw cash, when needed, to replenish cash tills.
Consumers visiting ATMs in participating retailers will also enjoy enhanced and expanded services and features. For those needing to transfer money, Hyosung Pay will allow customers to send money anywhere in the world using Global Money Transfer powered by MoneyGram. Customers can also pay bills to thousands of participating companies using technology powered by Fiserv CheckFreePay. Additionally, those consumers needing cash in different denominations can use the inherent bill-breaking feature available on these ATMs using BlueVerse Retail. All services are designed to increase customer return visits to the store and heighten the user experience.
eGlobal and the Grant Victor companies are enthusiastic about the growth potential for this partnership between Hyosung Americas and eGlobal.
“Hyosung Americas has been a long-time partner and is understood to be an industry disruptor,” said Grant Victor CEO Jeff Matthews. “Together, Hyosung and eGlobal can provide more value to our retail ATM partners and customers through additional transactions, deposits and cash recycling technology.”
Hyosung Pay reflects the company’s ongoing commitment to transforming the retail ATM experience.
“Hyosung Pay addresses many of the market needs to streamline retail ATMs to more efficiently serve retail clients,” said Hyosung COO Nancy Gail Daniels. “This innovative service allows retailers to offer more transaction types and services with best-in-breed ATM hardware. We anticipate a real increase in foot traffic for our pilot participants.”
About Hyosung Americas
Hyosung Americas, the world’s leading cash management and payments platform service provider and is part of Republic of Korea-based Hyosung. Since entering the North American market in 1998, Hyosung Americas has grown from one of the largest providers of ATMs in the United States, to offering best-in-class, innovative and transformative technology solutions across the cash management and payments spectrum. Hyosung Americas is headquartered in Irving, Texas.
About Grant Victor
Founded in 2000 and headquartered in Kaysville, Utah, Grant Victor is a family of companies focused on ATMs and self-service kiosks for the financial marketplace, across retail and Financial Institutions. Grant Victor wholly owns four strategic business units, eGlobal ATM Services, NextBranch, NextATM, and TetraLink. Together, this family of companies facilitates the access and convenience to cash in the consumer marketplace.
