A Reverse ATM™, also called a cash-to-card® kiosk, allows customers to insert a specific amount of cash in exchange for a prepaid debit card in the same amount they inserted. These machines enable seamless and secure cashless payments while accommodating cash-preferred and cash-only customers.
They’re popular among businesses transitioning to a cashless model, especially high-volume environments where preventing long queues and excessive waiting times is vital. Such venues include:
- Airports
- Retail shops and malls
- Stadiums
- Hospitals and clinics
- Amusement parks
- Event venues
- Theaters
- University campuses
In general, here’s how a Reverse ATM™ works: The customer will insert a specific cash amount into the machine, and the machine will then verify the amount and immediately dispense a prepaid debit card. They won’t need to show a form of ID, either. Nor do they need a bank account to use a Reverse ATM™, allowing businesses to serve all customers, including those who are unbanked and underbanked.
Step‑by‑Step Breakdown of the Cash‑to‑Card Process
With a general understanding of how a Reverse ATM™ works, let’s walk through each phase, step by step.
- Cash Deposit by the Customer
The customer will determine how much cash they want to put on a prepaid card before inserting their cash into the Reverse ATM™ designated bill acceptor. The machine will then count the amount, verifying it automatically.
- Processing and Prepaid Card Issuance
Once the Reverse ATM™ verifies the designated cash amount, it will dispense a prepaid debit card loaded with the exact amount the customer deposited into the machine.
- Transaction Receipt Generation
Upon dispensing the prepaid debit card, the Reverse ATM™ will then generate a receipt for the transaction. Now, the cash is completely secure and unobtainable, significantly reducing your risk of theft and improving safety for your employees and customers.
- Instant Card Activation
With their prepaid debit card in possession, customers can use it immediately, as it comes instantly activated. They can use it the same way as a traditional debit card—for purchases in-person or online, wherever major debit cards are accepted.
- No Personal Information Required
Customers won’t need to show an ID or enter their personal data, keeping their transactions private and completely anonymous. This is especially ideal for unbanked customers and anyone wanting a faster transaction.
Discover how Ready Credit’s Reverse ATM™ solutions make cash-to-card conversion fast, secure, and seamless for businesses and cash-preferred customers.