Business
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Plans to Wholesale ATM Machines
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Plans to Wholesale ATM Machines.
About this update from Flexpower Inc
[{"type":"text","content":"LAS VEGAS, NV, June 21 - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) www.espritfinancialgroup.com announced today that it will begin wholesaling ATM machines to the North American market.\n\nFollowing up on negotiations with a Chinese manufacturer, the Company has assessed the viability of profitably wholesaling ATMs to retail distributors. The Company has traditionally offered turnkey systems to licensees of its Cash Now PayDay loan software. \n\nEsprit now has direct access to manufacturing capability in China and can aggressively compete at the wholesale level, offering significant savings to companies focussed on developing private ATM retail network deployment.\n\nThe Company will offer ATMs with packaged software ready for deployment. If desired, Esprit can also provide turnkey systems complete with processing capabilities through its own providers.\n\nThe ATM market continues to show healthy growth. Much of this is through private service providers, rather than the traditional banks. Generic ATMs are increasingly available in most high traffic locations. It has been proven that consumers are prepared to pay additional processing fees in exchange for the convenience of not having to hunt down ATMs from their bank's network. As of 2003, private ATMs represented over 64% of all ATMs deployed in the U.S.\n\nAs noted by ATM Marketplace.com, \"the move from OS/2 to Windows has facilitated change by opening standards and levelling playing fields. No longer locked by proprietary protocols and platforms, financial institutions large and small are leveraging their options to achieve best-of-breed solutions\".\n\nWorldwide ATM deployment is estimated to be 1.5 million, and the market is worth approximately $14 billion per annum, and growing. The United States now has the largest ATM market, with somewhere between 420,000 and 450,000 ATMs. \n\nEsprit CEO Garr Winters, notes that; \"Our intent is to keep things very simple out of the starting gate. Our positioning will be based on value; offering competitive products at lower prices than traditionally available to smaller private network operators. These units are essentially 'plug and play'. With the increasingly open standards of ATM related software, we believe that in the longer term, we will also focus on becoming a VAR (value added retailer) of different software solutions, w...