Irving-based Hyosung Americas is set to revolutionize the retail store experience with the launch of its pilot program, Hyosung Pay, in partnership with eGlobal, a Grant Victor company. The pilot will feature the new Pivot ATM, which aims to redefine the role and value of ATMs for retail operators and consumers alike.
The Pivot ATM, a cash-recycling machine, allows for cash-in transactions, enhancing transaction revenue streams and improving cash-handling efficiency for retailers. The pilot program will kick off in October 2024 at selected retail convenience stores and premier hotels in the western United States, with nationwide availability planned for February 2025.
Michael Graham, Chief Product Officer of Hyosung Americas, emphasized the importance of providing transformative solutions to retail partners amid changing financial markets. “Hyosung Americas is committed to providing our partners with more than just great products but with the technology they need to drive enhanced retail solutions,” he stated.
Retail store owners and operators stand to benefit significantly from the new system. The Pivot ATM's smarter safe features allow merchants to deposit cash directly into the machine, facilitating instant bank credit and replenishing cash reserves. Additionally, store operators can withdraw cash as needed to restock their tills.
Consumers visiting participating retailers will also enjoy expanded services through Hyosung Pay. Features include the ability to send money globally using Global Money Transfer powered by MoneyGram, pay bills to thousands of companies via Fiserv CheckFreePay, and access cash in various denominations with the ATM's bill-breaking feature through BlueVerse Retail. These enhancements are designed to boost customer return visits and improve user experiences.
Jeff Matthews, CEO of Grant Victor, expressed optimism about the partnership’s potential. “Hyosung Americas has been a long-time partner and is understood to be an industry disruptor,” he said. “Together, Hyosung and eGlobal can provide more value to our retail ATM partners and customers through additional transactions, deposits, and cash recycling technology.”
Hyosung Pay reflects the company's commitment to evolving the retail ATM landscape. Nancy Gail Daniels, COO of Hyosung, highlighted that the initiative addresses market needs by streamlining retail ATMs and enhancing service offerings. “We anticipate a real increase in foot traffic for our pilot participants,” she noted.
About Hyosung Americas
Hyosung Americas, the world’s leading cash management and payments platform service provider and is part of Republic of Korea-based Hyosung. Since entering the North American market in 1998, Hyosung Americas has grown from one of the largest providers of ATMs in the United States, to offering best-in-class, innovative and transformative technology solutions across the cash management and payments spectrum. Hyosung Americas is headquartered in Irving, Texas.
