Lotte banks on cash recyclers

South Korean retail giant Lotte has ordered 1000 CINEO cash recycling systems from Wincor Nixdorf.

This is Wincor Nixdorf’s first major CRS order in South Korea. Lotte is significantly expanding its cash machine network, which already comprises around 4000 cash recycling systems, in a project extending until 2013.

Cash recycling technology, which enables deposited and validated banknotes to be dispensed again, is already well established in South Korea. The interval for replenishing such systems is extended considerably by, among other things, small-scale retailers depositing their daily proceeds in them.

After extensive testing Lotte opted for Germany-based Wincor-Nixdorf’s technology based on supply, small footprint and tamper-proof security.

Lotte was also swayed by the technology allowing cash cassettes to be exchanged between the individual systems and other CINEO models available, which opens up new cash handling opportunities between the retail and the self-service ISO environment of the Lotte organisation.

The rollout of the systems has already started in the Seoul metropolitan area, with around 200 new systems being installed every month.

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