Member Access Processing (MAP), the nation’s leading provider of the Visa DPS Debit, Credit, ATM, Prepaid, and Mobile Processing platform to credit unions, announced today that it will offer ATM Cash Recycling to its client credit unions that use MAP to drive their Automatic Teller Machines (ATMs).
Traditionally, cash deposits would sit in a storage compartment within an ATM until the cash is collected by an armored truck. With Cash Recycling, the deposited money is checked for authenticity, sorted, and then stored in the machine's secure cash dispenser. The ATM then uses the stored cash to provide withdrawals to customers.
“Installing Cash Recycling affords credit unions increased efficiency, security and cost savings,” states Joyce Carter, Chief Customer Officer. “While members will not notice the change, Cash Recycling allows the credit union to extend it cash replenishment cycle, reducing the risk and cost that comes for restocking cash at an ATM.”
In a post-pandemic world cash is making a comeback where customers are still wary of in-person banking, with long lines and many physical touch points, ATMs are set to play a vital role in the way people do business. This is even more true with the added functions that modern ATM technology allows, adding benefits and conveniences that customers never had before, truly making these cash machines an extension of the credit union branch in all aspects.
For more information about Member Access Processing, please visit https://maprocessing.