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First Major Cash Recycling Order in South Korea: Lotte installing 1,000 CINEO systems

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SEOUL, South Korea, Oct. 5, 2012 /PRNewswire/ — Lotte PS Net, the largest retail company in South Korea, has ordered 1,000 CINEO cash recycling systems from Wincor Nixdorf. This is Wincor Nixdorf’s first major CRS order in South Korea. Lotte is significantly expanding its cash machine network, which already comprises around 4,000 cash recycling systems, in a project lasting until 2013.
After extensive testing Lotte opted for technology from the leading IT solution provider for retail companies and retail banks, the crucial factors in choosing the CINEO C4040 systems were their quality including its high availability, the small footprint and innovative security concept that effectively prevents tampering. Lotte was also convinced by another aspect of this new generation of devices, namely the technology allowing cash cassettes to be exchanged between the individual systems and other CINEO models that are available. This opens up new cash handling opportunities between the retail and the self-service ISO environment of the Lotte organization.

The rollout of the systems has already started, in particular in the Seoul metropolitan area, with around 200 new systems being installed every month.

Cash recycling technology, which enables deposited and validated banknotes to be dispensed again, is already well established in South Korea. The interval for replenishing such systems is extended considerably by, among other things, small-scale retailers depositing their daily proceeds in them.

About Wincor Nixdorf Pte Ltd

Wincor Nixdorf is one of the world’s leading providers of innovative IT solutions and services to retail banks and retailers. The company is headquartered in Paderborn, Germany, and is publicly traded on the Frankfurt Securities & Stock Exchange. The company has a global presence in more than 100 countries. For more information, please visit

For more information and media enquiries, please contact:

Ms. Christine Tan
Regional Corporate Communications, APAC
Tel: +65-6740-2452
Fax: +65-6747-1577
Mobile: +65-9159-7780

SOURCE﹛Wincor Nixdorf Pte Ltd

Written by asiafreshnews

October 8, 2012 at 3:15 pm

Posted in Uncategorized

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