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In an effort to streamline the purchase of goods and help to bolster sales, UK-based company KAL has created the cashless ATM.
Named the RTM for ‘Retail Teller Machine,’ the ATM-like machine dispenses retail vouchers that can be used on-site for the purchase of goods and services. When a transaction is made, money from your bank account is electronically transferred to the store and a voucher for that amount is provided instead of cash. If you’d prefer to receive cash, the voucher can be converted to cash by the store you’re in. The RTM is a fantastic way of decreasing the dependency on ATMs, which require constant refilling and maintenance.
Cashless ATMs could be popping up sooner than later as the concept of the RTM has more global abilities for consumers that allow for seamless transactions no matter where you are in the world.