This from The Sun;
In its bid to ease the payment system, the nation’s banks have so far invested a whopping N390 billion in the acquisition of Automated Teller Machines (ATMs) deployed across the country.
A recent report revealed that as at the end of October, there are about 12,100 active ATMs performing transactions across the country at bank branches, hotels and airports.
It was gathered that the cost of ATMs is determined by their functionalities which include mono-functional, cashless and multi-functional ATMs.
A mono-functional ATM is the type mostly deployed by banks in the country which dispenses cash as well as carrying out other transactions such as payment of utility bills and cost $20,000. This type of ATM is the one mostly deployed by banks in the country.
Multi-functional ATMs whose cost is between $50,000 and $100, 000 are those that, aside dispensing cash, also accept cash deposit as well as cheque. There are few of this type deployed in the country.
Cashless ATMs, as the name implies, does not accept or dispense cash are but rather carry out electronic payment transactions only and it costs some $3,000.
The two major brands of ATMs deployed by the banks are NCR and Wincor Nixdorf.
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