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NCR, Symstream intro wireless ATM connectivity in India

17 Aug 2007

MUMBAI, India — NCR Corp. has announced an alliance with Symstream Technology Group Ltd. to introduce wireless connectivity solutions for ATMs in India.

By deploying Symstream II, a wireless modem for mobile connectivity, banks in India can deploy ATMs in remote sites, offering banking services to unbanked rural populations, the companies say.

Unlike traditional dial-up, wireless ATM transactions are two to three times faster. As transactions on the ATM channel become more convenient in developing countries, the demand for ATM access at off-premises locations is expected to increase.

NCR also says the introduction of advanced functions, such as bill payment, automated deposits and cash-recycling, at ATMs are likely to have greater impact over the next couple of years in developing countries.

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