The ATM market is currently seeing the introduction of a major innovation regarding cardless withdrawals and currencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More conversion. Thanks to a partnership between Cardtronics – a leading non-bank ATM operator – and mobile app provider CashDash, foreigners travelling to the UK are now able to retrieve British pounds at ATMs with their smartphone.
CashDash is a mobile app that enables users to digitally buy foreign currencies at attractive and transparent rates. The funds are then loaded on a “Cash2Go” e-Wallet and can be retrieved at any time at one of the 1,000 Cardtronics Cashzone-branded ATMs located in London. The system is currently being tested in the UK but might be deployed in Barcelona and New York in the coming months if the service proves successful. The app allows travellers worldwide to convert their moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More into British pounds without any surcharge and access hard cashMoney in physical form such as banknotes and coins. More by a click on their smartphone once they land in the UK capital. The service also enables customers to deposit the remaining pounds on their e-Wallet at the end of their stay, thus avoiding the loss of even the smallest leftover changeThis is the action by which certain banknotes and/or coins are exchanged for the same amount in banknotes/coins of a different face value, or unit value. See Exchange. More.
Cardtronics firmly believes that cash has its place among digital instruments and remains a leading payment methodSee Payment instrument. More depending on the purchase and the situation. Confirming this assertion, a recent survey carried out by Consumer Intelligence demonstrated that the majority of British travellers relies almost exclusively on paper money when abroad. Brad Nolan – EVP at Cardtronics – added that the company is not competing with digital and mobile payments. On the contrary, it is hoping to work with these technologies to build bridges between virtual and tangible money, to the benefit of consumers.
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