ArcaTech Systems Improves Speed and Accuracy in Check-Cashing Transactions
Demand for company’s cash recycling and cash dispensing solutions increases with fast-growing industry
Mebane, N.C. – August 27, 2007 – ArcaTech Systems (www.arcatechsystems.com), a leading supplier of transaction automation components for the financial, retail and self-service industries, has developed cash recycling and cash dispensing technology for the rapidly growing check-cashing industry. ArcaTech’s cash recyclers and cash dispensers enable check-cashing stores and other outlets, such as convenience stores, to greatly improve the security of dispensing cash to customers, while also providing increased speed and accuracy for transactions.
According to the U.S. Treasury Department, the number of check-cashing stores has doubled since 1986. That number is expected to continue growing, with some industry estimates predicting as much as a 600 percent increase during the next decade. ArcaTech’s cash recycling and cash dispensing technology is helping this fast-growing industry better serve its customers.
“ArcaTech’s cash recyclers and dispensers are helping check-cashing and convenience stores to handle larger volumes of cash transactions, while also providing a higher level of security to store employees and customers,” said Aubrey Meador, vice president of ArcaTech Systems. “We are currently expanding an in-store, check-cashing program with a large national chain. Their employee-assisted model is providing them with improved return and increased volume as a result of their ability to help customers through the process. As the industry continues to experience such rapid growth, proven tools and technology can quickly help these outlets become successful.”
The Arca2000 and Arca2600 Cash Dispensers dramatically reduce the need for large amounts of cash to be kept in a drawer. Cash is automatically dispensed from the device to an employee, then passed to a customer for better cash control. Transactions can be performed much faster and with more accuracy. Since cash is stored in a high-security, 24-hour safe the Arca2000 also provides users with more uptime for readily dispensing cash without having to expose large amounts of cash to customers.
Additionally, the Arca2000 and Arca2600 Cash Dispensers and the Arca8000 Cash Recycler are known for their compact size, allowing them to fit into tight spaces that might exist in a check-cashing or convenience store. For check-cashing stores that offer money wires, transfers, re-loadable debit cards and bill pay services, ArcaTech’s Arca8000 Cash Recycler also provides counterfeit detection by checking each bank note for validity before being automatically deposited into the safe. LCD displays allow users to clearly see instructions on how to identify and correct the most common issues without the need for a service technician on site. Remote help desk staff can also assist users with more complex issues based on the detailed information from the LCD display.
ARCA’s solutions help people control and streamline cash operations in financial institutions, retail stores, and self-service kiosks around the world. Our overriding drive is to develop technology and services that make transactions simpler, more efficient, and more secure. Visit us at www.arca.com to see how we are reimagining everyday transactions—freeing people to focus on what matters most.