Best Price Merchant Services (Home) Best Price Merchant Services Best Price Merchant Services Best Price Merchant Services Best Price Merchant Services
Best Price Merchant Services (Home) Best Price Merchant Services Best Price Merchant Services About Us
Best Price Merchant Services (Home) Best Price Merchant Services
  Best Price Merchant Services

CASHWORKS PILOTS LOW-COST CHECK-CASHING SOLUTION USING STANDARD ATMS

DALLAS, Texas (January 29, 2002) - CashWorks, a provider of technology solutions for the non-bank financial services industry, today announced the launch of its PayPort™ check cashing solution. Initial pilot locations will be two Town and Country convenience stores in San Angelo, Texas. Both stores are using ATMs manufactured by Tidel Technologies, Inc. (Nasdaq: ATMS) and supplied by Sourcetronics, an independent ATM systems integrator.

CashWorks' PayPort™ is the first check cashing solution to employ a clerk-assisted POS terminal as a transaction authorization device linked to a conventional ATM for the disbursement of funds. By leveraging the 155,000 ATMs already deployed in retail locations across the nation, the CashWorks solution eliminates the need for expensive, special-purpose machines or brick-and-mortar check cashing stores. CashWorks has patents pending on both the apparatus and transaction processing methods.

"The CashWorks solution solves the problems associated with traditional approaches to check cashing," says Ken Rees, president of CashWorks. "The incremental cost is so minimal that almost any retailer with an ATM can profitably provide check cashing to its customers, generating fee revenue as well as additional store sales."

The solution is extremely fast, with most checks approved in under a minute. This eliminates the queuing problems associated with other check cashing solutions. No cards are required, so customers can begin using CashWorks as soon as they are enrolled. Also, CashWorks guarantees the checks, protecting retailers from fraud risk.

"We find that check cashing brings customers into our stores and provides fee revenue, but have been unhappy with the large footprint and risks associated with other solutions," says Devin Bates, CIO of Town and Country. "The CashWorks solution is small, fast and doesn't require additional cash inventories in the store."

"CashWorks technology is innovative and adds product functionality to our existing ATMs without expensive hardware upgrades," says Wayne Moran, CEO of Sourcetronics. "This should have a tremendous impact on our ATM profitability."

The CashWorks management team includes several pioneers of automated check cashing. Mr. Rees previously served as chief operating officer and executive vice president of business development for InnoVentry Corp. Jointly owned by Wells Fargo Bank, Capital One Financial Corp. and Diebold, Inc., InnoVentry deployed some 1,500 advanced-function check cashing machines under the RPM brand.

Chairman Michael C. Stinson was a co-founder of Mr. Payroll Corporation, an InnoVentry precursor that developed the world's first self-service check-cashing machine. Mr. Stinson is a co-holder of three U.S. patents and a U.K. patent related to automated check cashing.

The other members of the management team all have extensive experience in either automated check cashing or ATMs.

About CashWorks
Formed in July 2001, CashWorks is a provider of technology solutions for the non-bank financial services industry. It is headquartered in Dallas, Texas.
CORPORATE CONTACT:
Ken Rees
CashWorks
(972) 448-3408
krees@cashworksinc.com

About Town and Country
San Angelo, Texas-based Town and Country currently operates more than 130 convenience stores in West Texas and Eastern New Mexico, and seven T&C Village supermarkets in various West Texas towns. For more information about Town and Country, consult the company's Web site at www.tcfs.com.

About Tidel
Tidel Technologies, Inc. is one of the nation's leading manufacturers of automated teller machines and cash security equipment designed especially for the retail marketer. To date, Tidel has sold more than 30,000 ATMs and 115,000 retail cash controllers in the U.S. and 36 other countries, worldwide. More information about the company and its products may be found on the Internet at www.tidel.com.


TIDEL INVESTS IN LOW-COST AUTOMATED CHECK-CASHING INNOVATOR

DALLAS, Texas (January 22, 2002) - Tidel Technologies, Inc. ("Tidel"), a leading U.S. ATM manufacturer, announced today a $500,000 investment in CashWorks, a provider of technology solutions for the $30 billion annual non-bank financial services industry.

CashWorks has developed a product called the PayPort™, a system that allows retailers with a Tidel ATM to provide check cashing and other non-bank financial services. This is the first product of its kind to employ a clerk-assisted POS terminal as a transaction authorization device, linked to a conventional ATM for the disbursement of funds. By leveraging the 155,000 ATMs already deployed in retail locations across the nation, the CashWorks solution eliminates the need for expensive, special-purpose machines or brick-and-mortar check cashing stores. CashWorks has patents pending on both the apparatus and transaction processing methods.

"ATMs have become a commodity product in the market, especially in the off-premise segment. We believe that CashWorks' unique technology provides our customers with a new products and service to improve the profitability of both their new and existing ATM networks without expensive hardware upgrades," says Mark Levenick, President of Tidel. "We also anticipate that the PayPort™ will help generate new ATM locations for Tidel customers that wouldn't otherwise be profitable with standard ATM transactions alone."

"We are excited to partner with Tidel. They pioneered the development of the first dial-up ATM and their market share provides excellent penetration into the off-premise market," says Ken Rees, President of CashWorks. "They provide both the technical expertise and sales support that will help us quickly expand our network of locations."

About CashWorks
Formed in July 2001, CashWorks is a provider of technology solutions for the non-bank financial services industry. It is headquartered in Dallas, Texas.
CORPORATE CONTACT:
Ken Rees
CashWorks
(972) 448-3408
krees@cashworksinc.com

About Tidel
Tidel Technologies, Inc. is one of the nation's leading manufacturers of automated teller machines and cash security equipment designed especially for the retail marketer. To date, Tidel has sold more than 30,000 ATMs and 115,000 retail cash controllers in the U.S. and 36 other countries, worldwide. More information about the company and its products may be found on the Internet at www.tidel.com.

About Us
Authorized Distributorships
Products & Services
Customer Service
Press Releases
Contact Us
Best Price Merchant Services
Best Price Merchant Services
Best Price Merchant Services   Best Price Merchant Services   Site Design by Tsion Media

Home | About Us | Products & Services | Authorized Distributorships
Customer Service | Press Releases | Contact Us

© 2002 Best Price Merchant Services
Best Price Merchant Services is a trademark and tradename of ATMPA, Inc. All Rights Reserved.