Smallest ATM on display today

Dubai-based Quick Line, which delivered a solution to produce labour cards for the Ministry of Labour and Social Affairs in 1994, has launched the world's smallest ATM called NanoCash.

The company is said to have sold 300 such ATMs to a city-based multinational bank, which will soon install these machines throughout the region. The Indian operation of the same bank has made a firm order for 1,000 NanoCash machines to be installed in different locations in India.

According to company sources, a few UAE-based national banks are also in negotiations to buy NanoCash. The company claims the new machine will replace all existing ATMs in the country in the near future, since it doesn't need the amount of space required for conventional ATMs.

This new generation teller machine will be showcased today at the 'E-Banking Trends-2002' - the two-day banking technology event to be held at Emirates Towers. The conference is expected to have live product presentations and workshop sessions.

The two-feet tall NanoCash has been designed by South Korean company Hyosung with software support from Quick Line, which earlier this year supplied 40 mini branches. It is capable of carrying out all normal functions of a bank branch, to a national bank.

The new ATM, by the virtue of its size can be installed on a desktop or even inside a car. Due to the fact that no physical connections - TCP/IP communication systems - are needed for this ATM, NanoCash can be made mobile or relocated without any problems.

"Though this new version of the mini ATM is currently operational in countries like the U.S., UK, China, etc, the Middle East is yet to taste the advantages of NanoCash," said Suresh Menon, chairman and managing director of Quick Line.