Thursday, December 07, 2006

ATMC targets 1,000 ATMs in 3 years

Pioneer off-site independent Automated Teller Machines (ATM) deployer in the country, ATM Consortium (ATMC) Limited, has concluded plans to live up to its goal of deploying estimated 1,000 ATMs, within three years of its operations.

Managing Director of ATMC, Mr. Noble Ekajeh, who disclosed this to our correspondent, said that his firm has ordered for 200 ATMs to boost the number of its systems on the ground from its current 146 to 346 before the end of April next year.

This, he said, was facilitated by the Export-Import Bank of America (EX-IM Bank), $5 million advance, basically for its deployment of QuickCash brands of ATMs in the country.

Mr. Ekajeh also said that ATMC, which is in its one and half years of operation has installed QuickCash ATMs in seven cities nationwide, including Abuja, Benin, Enugu, Ibadan, Kaduna, Lagos and Port-Harcourt.

He equally said disclosing that one key challenge facing the emerging electronic payment solution is lack of logistics, infrastructure and capital.

According to him, ATM business is a capital-intensive investment, noting that lack of core human resources for the industry is another obstacle for the growth of the industry.

He further said that ATMC plan is that average Nigeria coming home at this seasons, should be able to use their electronic payment cards locally in the country.Additionally to operate and manage a network of ATMs under the trademark QuickCash, ATMC provides operations and management services for third-party machines.

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