InnoVentry Corp., which is developing the next generation of fee-based financial services and information access machines for the mass market by leveraging Internet and biometric technologies, announced that it will deploy its RPM cash management machines in 22 Albertson’s supermarkets and 3 Osco Drug stores in the Phoenix and Tucson metro areas.
The RPM machines offer secure check cashing, utilizing advanced facial recognition technology to identify the customer, eliminating the need for cards or personal identification numbers (PINs). This technology extends the 24/7 convenience of traditional ATMs to the 40 million Americans who choose to cash checks outside of banks. The RPMs are touch screen activated for easy, intuitive interaction, and include a multimedia second screen that can deliver customized educational and promotional messages in English and Spanish. The machines are designed to eventually provide a complete range of financial services including traditional ATM functionality, money orders, money transfers and electronic bill-payment.
“We’re excited to enter into a relationship with one of the nation’s leading retail grocers,” said Jeff Rubin, president, retail division, at InnoVentry. “Albertson’s decision to install RPM machines in their stores is further evidence of their commitment to provide customer’s with one-stop shopping convenience making their lives easier.”
“We have been looking for a kiosk based provider of broad range financial services for years,” said Pat Steele, Albertson’s executive vice president of information systems and technology. “We believe InnoVentry’s RPM machines will be an excellent customer service tool and we’re pleased to have entered into this agreement with them.”
The initial installation of the RPM machines in Albertson’s and Osco are scheduled for October 2000, and pending the success of these machines, a larger roll-out of RPMs Nationwide is expected within the next four years. The Albertson’s installations will bring the current number of RPMs located in retail locations in the Phoenix area to more than 100.
Albertson’s, Inc. is one of the largest retail food and drug companies in the United States. Based in Boise, Idaho, the Company currently operates over 2,500 retail stores in 36 states across the United States. Albertson’s also owns and operates the Osco Drug store chain. For more information, please visit the company’s web site at [www.albertsons.com].
Backed by the wholesale bank of Wells Fargo & Co. (NYSE:WFC) and by Cash America International, Inc. (NYSE:PWN), InnoVentry combines Internet and face-recognition technologies to bring advanced cash-management and information-access machines to market. InnoVentry distributes these machines under the RPM(TM) brand to leading retail-store networks across the nation. Since its launch in 1998, InnoVentry has enrolled more than 760,000 customers, cashed over two million checks and established relationships with many of the nation’s leading retailers. The company is based in San Francisco.