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An uncertain future faces cryptocurrency, though there is potential for mainstream adoption in the next decade. As this tech is really only in its infancy, a lack of regulation, slow transaction times and overall instability keep onlookers watching from afar for now. This currency shows immense promise, however, so hope remains for the resolution of the main issues acting as barriers to the widespread adoption of cryptocurrency. Until that occurs, those interested in this market may remain on edge, waiting for whatever awaits around the next corner.

Bearish Trends in Virtual Coin Prices

Amid the growing popularity of blockchain technology in 2017, Bitcoin prices steadily rose to an all-time high of almost $20,000. As the shortcoming of cryptocurrency came front and center, the market took a rather bearish turn with the value of Bitcoin toppling down to just over $3,600 by the end of 2018. Cryptocurrency trading continues to remain subdued and cautious with many hoping to ride out the lows and recover their losses in the near future.

Although turbulent, this process helped pull back the curtain on the barriers preventing cryptocurrency from maintaining stable interest and usage across many different industries. Until the barriers regarding a lack of regulations, slow transaction times and instability can be addressed, cryptocurrency values will likely continue to stall.

Future Predictions in Cryptocurrency Values

Cryptocurrency values will likely hold steady as the market awaits decisions from the U.S. Securities and Exchange Commission (SEC) about the proposed bitcoin exchange-traded fund. This proposal shows promise in providing a structured way to trade cryptocurrency on the open market. A similar proposal has already been rejected, however, due to lack of investment security regulations. The creators of the bitcoin exchange-traded fund went back to the drawing board with the reasons for the rejection in mind to create an even better plan for the next attempt. With the most recent delay by the SEC, the decision will not come until February 2019.

Even with the establishment of beneficial regulations and the bitcoin exchange-traded fund, long transaction times will require attention before perceptions about cryptocurrency begin to change. Current transaction times can range from just a few minutes to hours as the miners in the system work through the confirmation process. Proposed solutions range from increasing the block size to speeding up the network to overcome this barrier to cryptocurrency success. None of the proposed solutions have been implemented and there is no timetable for doing so.

Even with those issues out of the way, there is still instability to think about, as the rapid spikes and dips in value colors public perception the most. With the widespread adoption and usage of cryptocurrency, it is possible to limit the instability characterizing the market today. Obtaining the trust of the public before the currency truly stabilizes will be the trick, however.

Public Perceptions About Cryptocurrencies – and the Need for Change

Beyond the three main barriers, the uncertainty of the future of cryptocurrency really comes down to public perceptions. If people even know about cryptocurrency, their perceptions are largely negative with many viewing the system as a scam or fraudulent in some way. The complexities of blockchain technology do not help the image of this digital currency either.

Overcoming the barriers making the future of cryptocurrency uncertain will take a dramatic shift in public perceptions. People need to have trust in the system to adopt it as a part of everyday life. Until that happens, the mainstream adoption of this currency and rebound of bitcoin values remains quite a way down the road.

IRVING, TX & SIOUX FALLS, SD — Drumroll, please. The winner of the 2019 ATMIA Educational Scholarship Program is… Alicia Chance, CEO of Uptime Management Solutions.

Sponsored by TransNational ATM, the ATM Industry Association (ATMIA) and Triton’s ATMGurus, the scholarship program is valued at $3,000 and includes a full conference pass to the 2019 ATMIA U.S. Conference at Disney’s Colorado Springs Resort in Orlando, February 19-21. Airfare, hotel accommodations, transportation to and from the airport and reimbursement for meals while at the conference are all included. In addition, Chance will receive Board level membership in ATMIA for one year and will go to ATMGurus’ comprehensive Retail Boot Camp ATM training at Triton’s Long Beach, MS location. This will be Chance’s first time to attend the conference.

Applicants for the scholarship had to provide both a written application and final recipients participated in a teleconference interview.

Chance has 12 years of experience in the ATM field, working with industry leaders such as Welch ATM and Cardtronics. A certified ATM technician and technical support supervisor, she has spent much her career focused on remote monitoring and maintenance, translating these skills to launch cost-reduction initiatives for independent ATM deployers (IADs) ‒ allowing them to better manage, maintain and service their ATM portfolios. She recently founded Uptime Management Solutions.

“It is an incredible honor to be able to provide Alicia with this opportunity. She will be able to meet and connect with people at the conference that will benefit her for the rest of her career,” Debbi Haacke, President of TransNational ATM said. “We are committed to educating our ATM operators, and we know that Alicia will benefit from this scholarship and continue to make a positive impact in the industry.”

“ATMIA is pleased to be able to cosponsor this scholarship and provide Alicia with the opportunity to enrich her education and career development,” said Mike Lee, CEO of ATMIA. “In addition to meeting industry leaders, getting a broad look at the industry and seeing first hand many of the revenue generating opportunities available for IADs at our annual U.S. conference, Alicia will receive vital training from Triton on the entire line of retail ATMs being used around the world.”

The largest ATM industry conference in the world, the ATMIA U.S. Conference includes a full day of workshops and two days of educational sessions covering a multitude of industry-relevant topics, from ATM security to asset management and innovations in payment technology. It also features the largest exhibit hall devoted exclusively to ATMs and self-service payments, with more than 100 booths.

“With so many applicants it was a tough decision,” said James Phillips, ATMGurus Vice President of Sales and Marketing. “I’m very happy that Alicia will have the opportunity to attend the conference, explore the expo hall, be able to compare products and meet the people behind the companies who have revolutionized our industry as well as attending our Retail Boot Camp.”
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ABOUT TRANSNATIONAL ATM CORPORATION — Founded in 2008 and based in Irving, Texas, TransNational ATM is a leading ISO representing more than 3,000 ATMs in 40 states throughout the United States. Owned and operated by Debbi Haacke, a TransNational ATM is a certified female-owned company, which provides the company with unique opportunities for corporate and government bids. For more information, visit www.transnationalatm.com.

ABOUT ATMIA — ATMIA is the leading non-profit trade association representing the entire global ATM industry. ATMIA serves more than 10,700 members from over 650 participating companies in 67 countries spanning the whole ATM ecosphere, including financial institutions, independent ATM deployers, equipment manufacturers, processors and a plethora of ATM service and value-added solution providers. ATMIA provides education, advocacy and connections to help its members keep abreast of industry news and developments; increase knowledge and professionalism; improve operational efficiencies; understand and influence regulatory processes; participate in the local, regional and global ATM community; and forge new relationships to advance their businesses. Founded in 1997, ATMIA has active chapters in the United States, Canada, Europe, Latin America, Asia-Pacific, Asia, Africa, India and the Middle East focusing on the unique needs and issues of each region. For more information, please visit www.atmia.com. Follow ATMIA: LinkedIn, Twitter, YouTube.

ABOUT TRITON / ATMGURUS — For the most reliable and highest quality ATMs, smart safes with real-time tracking software, multi-brand parts and repairs, nothing beats Triton, VersaSafe and ATMGurus. A trusted name for almost 40 years, Triton continues with our partner companies to set new standards in the industry. ATMGurus is a multi-brand one-stop shop for parts, repair and training for all popular retail ATM brands with over 10 million in stock ATM parts and accessories. Learn more at www.triton.com or www.atmgurus.com.

People “of a certain age” have similar recollections of how they learned about the value of money. Saving nickels and dimes in a piggy bank, plunging their hands under their pillows to discover the tooth fairy left a dollar, cashing their first paycheck, or holding their first hundred dollar bill taught us that money had value to buy what we wanted. But a 2016 Pew Research article revealed that nearly a quarter of Americans don’t use cash at all in a typical week. Between debit cards, currency apps like Venmo and PayPal, direct deposit, and auto pay features on everything from rent to utility bills, we live in a society that is becoming increasingly cashless. If cash is no longer king, how do we teach our children about the value of money?

Start Young​

It is common for children as young as five to begin to show an interest in money. Not only are they becoming more aware of the world around them, they begin to understand that the things they want come at a cost. Set up opportunities for them to not only earn money, but save for larger purchases. The idea that their effort pays off (literally) can only help them in the long run.

Start with Cash

Even though we live in an increasingly cashless society, there is a tangible sense of loss when you hand over your hard-earned cash that you simply don’t get when you swipe a card. That is why cash is still a great place to start with young children. Learning the value of coins and bills, how to count it and how to spend it appropriately (including sales tax) is much easier to do when the money is tangible. However, it is important to introduce debit cards, how to track spending and even the concept of credit to preteens so they do not make the same mistakes many adults do when it comes time to enter a cashless society.

Save, Spend, Give, Invest

The “four bank system” is a great way to introduce the idea that money can serve more purposes than feeding an endless toy and candy addiction. Setting up a standardized percentage that goes into four different areas — save, spend, give, invest — lays a sound foundation for your children’s long-term financial health. This can start as four jars where your kids deposit coins and expand to multiple accounts as they get older. It is simple to open separate savings or checking accounts with specific purposes at most financial institutions. Having designated accounts for saving, spending, giving, and investing can even give adults a way to follow through with their good money intentions.

Give them their own account

There are few things more eye opening for kids than walking into a bank with a jar full of money and walking out with a savings account. This is one of the best ways to drive home the point that a debit card is tied to real cash. Bonus points if your child’s savings account is interest bearing so they can learn the value of compound interest in the process.

Even though we live in a digital world, cash continues to serve a purpose not only in financial transactions, but also in teaching our children how money works. Connecting digital money to real life cash may be a challenge, but the more open and honest we are with our children, the better their financial health in the long run.

Money is valuable to adults, but it is nothing more than green paper to a curious toddler. A couple from Utah recently found that out when they discovered that their two-year-old son Leo put more than $1,000 worth of cash they had stored in an envelope through the family’s paper shredder. Jackee Belnap, Leo’s mother, explains how he was likely only imitating her when he observed her shredding unwanted mail.

Although it is easy to understand how a child young enough to not understand the value of money could do something like this, these parents experienced a sinking feeling when they realized the money they saved had literally been ripped to shreds. The good news is that they can get their money back by submitting the destroyed remains to the Bureau of Engraving and Printing (BEP) operated by the United States Department of the Treasury. The bad news is that it will likely take a minimum of one year.

In another recent instance, a film director from Australia residing in southern California lost thousands of dollars in cash and several other valuable items he had stored in a safe inside of his home during the wildfires. While insurance will cover some of the non-monetary losses, Neil Johnson and his partner Tracey Birsdall will need to go through the same process as the Belnap family to attempt to recover some of the cash they lost.

Johnson stated he kept his cash in a safe at home because he did not trust banks. Unfortunately, the safe burned in the fire along with everything else and left the couple with only the clothes on their backs.

How to Redeem Mutilated Currency

The BEP offers restoration of mutilated currency as a free service to the public. If a person can prove that he or she is the lawful owner of mutilated currency, the BEP will replace it. The agency considers money mutilated when it is difficult to determine its face value due to damage from shredding, fire, water damage, chemical spills, rodent damage, or deterioration and petrification because someone buried the money. Currency is also mutilated if the damage erased proof of certain security features.

Mutilated currency must meet certain qualifications before the BEP will accept it. These include:

• More than 50 percent of the note remains and it is obvious that it was a product of the United States Department of the Treasury.
• The bill contains adequate remains of security features recognizable as those produced by the treasury.
• The evidence included in the submission to the BEP supports that more than 50 percent of the currency has been permanently destroyed.

Processing Expectations

More than 30,000 Americans submit claims to the United States Department of the Treasury every year, resulting in a replacement value of approximately $30 million dollars. The precise nature of the work, coupled with heavy demands, can mean a long wait for people requesting replacement of their mutilated currency. Anyone wishing to start a claim should follow these instructions. You will need an active bank account in the United States for the BEP to deposit the funds to upon completion of your claim.

Financial technology continues to transform the way consumers do business, banks operate and features are introduced. There are certain technologies that will completely change the way money is handled and how data is shared:

• ATMs

ATMs continue to introduce new features into the market. Intelligent deposits, where an envelope or pen is not needed is very popular, and the addition of bill pay by ATMs is still continuing to catch on. Even with these types of technological advancements already in the market, there is a new wave of ATM technology on the horizon being introduced that will support contactless payments, including ATM transactions by smartphone, GPS tracking, biometric authentication and iris recognition, to help in preventing hacks.

• Blockchain Technology

Blockchain helps decentralize financial management from one authority to an entire network of computers. This technology has the potential to be safer, and improve certain areas of banking. When fully implemented, it will change the landscape of the banking industry as we know it.

• Automated Employees

In a 2017 interview with Bloomberg TV, Vikram Pandit, former head of Citigroup, Inc said that up to 30 percent of banking jobs could be eliminated within the next five years. With machine learning and cloud computing automating operations, this is no longer an estimation, but may soon become a reality.

• More Online-Store Experiences

Although some people may prefer visiting an in-store branch, the future banking experience may become one of an online store. Customers are quickly migrating to banking apps and ATMs that allow basic banking transactions. The future of banking may involve kiosks, where customers can handle in-store transactions, reserving one-on-one interactions for special needs and requests.

• Non-Banks

Technology has given banks an opportunity to deliver faster experiences that have the transparency customers want. Financial service providers that are not regulated to the finance industry have the potential to grow, as they can devote a higher percentage of their assets to employing technology that offers innovative solutions on a larger scale than traditional banks.

FinTech banks are coming at a rapid pace. Regulators have accepted applications for national bank charters from financial technology startups that will completely change the landscape of traditional banks. As it stands, a few fintech banks are offering checking and savings accounts, overdraft protection, and direct deposit, with more financial technology companies on the way.

• Digital and Mobile Banking

Banks are heavily investing in digital banking technology, with artificial intelligence solutions leading the way. Customer engagement continues to grow as financial institutions employ the use of chatbots and other new innovative methods to deliver services.

• Wearables

Wearables are also a new advancement that will integrate the banking experience. Bank may start using Bluetooth beacons to greet customers on their smartwatches as they enter a location, and bank tellers may very well start wearing smart glasses to process customer banking information. Using smart devices on a wider scale can also enhance convenience and build loyalty.

The best part? Most of these integrate the use of ATMs.

Thieves who steal money from people by skimming their ATM card take in millions of dollars each year and their tactics are becoming more sophisticated all the time. They do this by setting up ATM machines to read account and PIN numbers and then hack into customer accounts to drain them of funds. This involves installing a small device on an ATM machine that electronically reads account numbers via the debit card’s magnetic strip. Some other methods that thieves may use to skim customers using an ATM include:

• Placing a tiny camera on the ATM to record people’s keystrokes and take pictures of their debit cards.
• Placing a thin duplicate keypad over the original keypad.
• Attaching a false front to the ATM machine. When a customer inserts his or her card, the machine comes back and says out of service even though it has already read and recorded the card information.

Anyone who uses an ATM machine can become a victim of this sophisticated form of fraud. Below are several tips for how you can prevent this from happening to you.

Look Closely Before Completing Your Transaction

ATM thieves often look for machines placed outside in poorly lit areas to target. Before you use any ATM, observe your surroundings to see if anyone seems to be loitering in the background. It is also a good idea to study the device’s card reader and even shake or tug it if you feel suspicious that a thief has tampered with it. Typically, the only thing holding a keypad overlay in place is double-sided tape or glue. You should also check the machine carefully for possible hidden cameras. If you notice anything out of the ordinary, notify the financial institution or call the police.

Cover ATM Keys While Using Them

The purpose of placing a tiny pinhole camera is to capture a customer’s PIN as he or she enters it. To prevent this, place something over the keypad and then slip your hand underneath it to enter your numbers. It might look strange to others but it can prevent you from becoming the victim of identity theft.

Check Your Banking Transactions Every Day

Most banks provide online access to their customers to view their account activity. Get into the habit of checking yours every morning to make sure that you recognize every transaction. Notify your bank immediately if you know that a cash withdrawal or debit card transaction is not yours. The bank will deactivate your debit card and temporarily freeze your account while it investigates the fraud. If you check your banking information rarely or never, the person who has access to it could have several days to spend your money.

Be Vigilant When Traveling

Areas known to be tourist destinations are especially attractive for would-be fraudsters. Be sure to put a travel alert on your card before you leave and to only use ATMs located inside of a bank or convenience store.

TransNational ATM cares about keeping consumers safe. Please contact us if you would like additional tips to avoid ATM fraud.

A goal was set by President Clinton in 1994 to award women-owned companies with at least a 4% of available government contracts. The number granted to businesses with female leadership hasn’t risen much beyond that in over a decade. The biggest challenge facing women business owners is gaining access to decision-makers in charge of awarding contracts.

What is the WBENC?

Corporations and government entities look to the Women’s Business Enterprise National Council (WBENC) when looking to bring more female-owned businesses into their sphere. The WBENC verifies that companies receiving their certification are at least 51% owned and operated by female leadership.

The WBENC works to help businesses owned by women gain a more significant foothold in the marketplace. They show them ways to tackle the barriers stopping them from succeeding in traditionally non-female industries like construction and robotics.

The organization accomplishes this through networking events and educational opportunities held throughout the year. They unite women leaders with decision-makers at Fortune 500 companies and within different levels of government, allowing them access to contacts leading to the awarding of lucrative contracts.

What Can Certification Do for Me?

Many businesses and government entities hesitate to get involved with new contractors and subcontractors. They want to be sure they’re accomplishing their mandate to build bonds with women-owned companies.

Gaining certification from the WBENC means being recognized as a company steered by female leadership. Government contractors and corporations will be more willing to sit down with your business and consider you for contracts vital to the growth of your company.
Certification gives you access to many of WBENC’s premiere events, including:

• One-on-one matchmaking sessions with high-level WBENC member and business partners
• Having a showcase exhibit at their annual National Conference & Business Fair
• Opportunities to partner with other WBENC-certified companies
• The chance to look through WBENC’s extensive database of WBE companies
• Education and development sessions

You’ll always have access to valuable contacts and new avenues to promote your company. WBENC provides different webinars throughout the year. They’re a great way to keep up-to-date on the latest trends in your marketplace. You also gain new insight into expansion opportunities for your company.

How Do I Get Started?

Make sure your company meets all of the following criteria before starting the process.

1. It must be 51% owned and run by women who are U.S. citizens or qualify as permanent legal residents. Any publicly held companies must have women owning at least 51% equity in the business who meet the same residency requirements.
2. One or more women must be in charge of daily operations and management.
3. The company must be able to provide all requested documentation to WBENC.

WBENC’s certification process includes a site visit and verification of any paperwork submitted to us. You can contact one of our regional organizations for any further questions you still have.

Why not gain assistance helping your breaking down barriers? WBENC certification gives you a path to achieving the goals you envisioned for your business.

Installing an ATM machine in your business has many advantages. Studies show that retailers with ATM have 25% more foot traffic — and many of those transactions result in in-store purchases. Also consider the additional revenue you earn from the surcharge or convenience fee each customer is charged when they use your ATM.

When customers know you have an ATM, they can skip a trip to the bank and conduct a cash withdrawal and purchase needed items in one location. Not to mention the customers who visit your store that may not have enough cash on hand to complete a purchase. Having an ATM means you retain that customer and you make that sale.

How to Buy an ATM for Your Business

As a business owner, you have options for installing an ATM. Here are ways you can buy an ATM for your business and why having an ATM deployment service place and stock your in-store ATM is the easiest option.

Buy an ATM Machine. This is the most expensive way to enter the ATM business. In this case, you own and stock the the machine and their is no ongoing maintenance costs. But, once you buy an ATM machine, after the warranty expires you are responsible for any maintenance or repairs.

Leasing a Business ATM. While leasing is less expensive than buying an ATM, you will have to pay a fee to exit the lease if you decide not to continue in the contract. You do have the option of buying the unit at the end of your lease, but when you consider the full costs of leasing and purchasing, you’ve paid much more money for the ATM. That hardly makes leasing a smart business decision.

ATM Deployment Service Provider. This is the lowest cost option and is the fastest and easiest way to get up and running with an ATM portfolio. As long as you have a minimum amount of prospective ATM users, you can have an ATM placed in your business with included maintenance and optional cash stocking services.

Why Choose ATM Deployment

When you partner with a national ATM deployment service provider like Transnational ATM, not only do you acquire a fully operational ATM machine and maintenance package, you receive the administrative support needed to monitor and manage your ATM portfolio. Expect the following ATM administrative support when you choose TNATM to help you get started with a successful ATM venture:

• schedule low cash alerts and other cash and systems reporting
• activate a terminal to immediately capture transactions
• automate times to collect surcharges and interchange fees
• use your smart phone or tablet to manage your ATM business

If you desire to get started making extra revenue from an ATM installation and the increased business they generate, contact TransNational ATM or visit our website learn more on this profitable venture. As an Independent ATM Deployer (IAD) we do not compete with your business. We want you to maintain your merchant relationships that you have worked hard to obtain and keep.

Think of the last time you filled up your vehicle’s gas tank. As you were pulling into the service station, you likely noticed that the price if you paid by cash was a few cents less per gallon than the price were you to pay by credit. Though many service stations have enacted this policy to maintain profit margins (it’s estimated that credit card transactions cost about 3 percent more than cash-only transactions), this is an example of why cash is still relevant in today’s world. In fact, it’s estimated that 40 percent of all transactions in the U.S. are made using cash. Conversely, less than 20 percent of transactions are made with credit cards.

Service stations are hardly the only venue that offers discounts on cash transactions (or only accepts cash at all). And while many people eat the additional cost of using their credit card at service stations for the sake of convenience, paying for items in cash has its benefits. For starters, it helps people manage their finances more in that they’re only buying what they know they can afford. Paying in cash helps minimize — or eliminate — credit card debt, not to mention avoid paying interest on carryover balances from month to month. In fact, studies show that people who regularly pay for purchases with credit cards have more of a tendency to overspend. Additionally, paying in cash eliminates the risk of identity theft, as there’s no paper trail to your purchase that a wrongdoer could track and manipulate.

Businesses That Still Accept Cash Only

Though many businesses have moved away from cash-only models to accept credit cards as a means of staying competitive, you’d be surprised at how many there are out there that are still cash only. Here’s a closer look at some of them:

• Laundromats: As there are no large laundromat chains out there, many still operate on a cash-only (or coin-only) business model.

• Hair salons: Many stylists are independent reps, so they have the option of picking and choosing which forms of payment they accept. Many still just accept cash or check to avoid paying credit card fees.

• Small businesses: In order for small businesses to stay competitive, they have to closely watch overhead expenses. Credit card fees have the potential to greatly cut into their bottom line, so many opt to only accept cash or check as forms of payment. Prior to closing, even the world-famous Carnegie Deli in New York City only accepted cash as payment.

• Others: The likes of parking meters, food trucks and more are also largely still operating on a cash-only model. Also, many customers get faster — and better — service at bars and clubs when they pay in cash over credit.

Bottom Line: Why Cash is Still King

In addition to the benefits of paying in cash over credit, there’s one other key reason why this form of currency is still king: ATMs are still being widely used. This is true even among the Millennial generation, as the majority report using an ATM at least once a week. As you can see, cash is still relevant in today’s (largely) digital world. It pays (pun intended) to do business with cold, hard cash.