Electronic Network Cash Tellers, Inc. (ENCASH) assessed the capabilities of the Retail Teller Machine (RTM) during the Rural Bankers Association of the Philippines' Convention last June 10-11, 2013 at the Hotel Sofitel Philippine Plaza.
The RTM is a new product that works just like an ATM, but instead of dispensing cash, it dispenses a voucher that will be exchanged at the cashier's.
The RTM enables bank connection with more customers. For example, if there is a long queue at the ATM, cardholders can use the RTM to access their accounts. The voucher dispensed to the cardholder can then be exchanged for money at the cashier's.
The beauty of the machine is that it is portable and can therefore be placed not just in banks, but also in other commercial establishments, such as pawnshops, resorts, stores, etc.
Another advantage is that it does not require ATM fit notes which may be difficult to find in the rural areas.The Retail Teller Machine provides all other banking functions such: Balance Inquiry, Bills Payment, Funds Transfer, Mobile Top Up, supports customer personalization, executes back-to-back transaction and credits retailer for cash dispensed.
The RTM is so easy to use. It works on the same principle as an ATM. It has a large touch screen with easy screen instructions that cardholders will find convenient to use. Safe and convenient, it has a full set of banking transactions. It is as secure as an ATM.
Banks won't have difficulty using the RTM because it expands and complements the existing branch and ATM network. It gives banks full control of the transactions. It also enables banks to acquire "off-us" transactions.