As more and more business and homes in the United States and around the world continue to shift towards a cashless economy, what are called “reserve ATMs” are really starting to explode across the country.
A typical ATM of course dispenses physical tender based on the digitized amount of money kept at the bank; a reserve ATM does the opposite, and instead allows customers to convert their paper cash into a digital asset in the form of stored-value cards.
While cash relatively still remains the prettiest girl at the dance around the world, digital transactions are not the far behind most places save only a handful of countries; the move to more digital and contactless transactions were exacerbated by the Covid War, when businesses and public amenities refused cash and coin due to fears that they could be harbingers for Covid, and instead began offering contactless pickups and deliveries.
Because of this, Axios reports that reserve ATMs (a.k.a cash-to-card kiosks) are becoming more widespread now that more businesses are trying to phase-out physical cash. The outlet says “Handling cash is also a hassle for retailers, with problems including theft and constant runs to the bank.”
‘When a customer uses the card, the merchant bears the interchange fee charged by Visa and Mastercard — just as they would with any other card under those brands,’ Axios says.
Axios reports that amusement parks, casinos and sports stadiums are the biggest proponents leading the change, namely Hersheypark, Six Flags and many waterparks. Other venues like airports, hotels, universities, movie theaters, zoos, restaurants and some stores are implementing or at least considering adding these.
Hersheypark, for example, claims that they are doing this because “Cashless transactions are faster, safer and more secure. Guests can spend less time waiting in the checkout on change and more time hitting up their favorite rides or other attractions,” they say. The park accepts all major digital payment apps, and those that do not carry a debit/credit card can convert their cash to “prepaid debit cards at the Cash-to-Card kiosks stationed around the park.”
And just like Hersheypark, SixFlags only allows a maximum of $500 to be loaded on their proprietary cards.
Naushervan Beg, a partner and business development executive at Wavetec, a Toronto-based company that sells reverse ATMs under the brand name Azimut, told Axios in a statement:
This is a competitive business. Cash carries a lot of friction, right? Many venues are willing to pay for the machines because for them, the bigger pain point is taking the cash.
If I tell you your cash is no longer good and you have to go to the machine and convert it to cards, the experience has to be good. In the two-hour window you have to watch a game, you have added a few minutes.
He said
SEE: Panera Bread Debuts Amazon One’s “Frictionless” Palm-Reading Payment System
Installing a reverse ATM from Wavetec will cost $6,000 plus the extra servicing and maintenance fees.
New York City shops in particular are embracing these reverse ATMs. According to the New York Post, restaurants like Slutty Vegan and Brooklyn Dumpling Shop are integrating reverse ATMs to avoid the “dirtiness” of cash.
Beg also noted that these reverse ATMs will eventually evolve into transacting with digital wallets on smartphones, removing the cards entirely.
It might not be a physical card […]. You can have a virtual card on your smartphone.
NewsNation further details the rise of reverse ATMs and how they work, saying that this is the “way of the future.”
AUTHOR COMMENTARY
He that putteth not out his money to usury, nor taketh reward against the innocent. He that doeth these things shall never be moved.
Psalm 15:5
The “way of the future” is right: cash may still reign supreme but not for much longer as more businesses goad people into dumping their cash and going digital; along with central banks pushing their economies to adopt a CBDC to track and trace every last transaction on the spot.
SEE: Red Alert: Federal Reserve Set To Launch “FedNow” Digital Payment System To Usher In CBDC
Going back a ways several years ago, I routinely pointed out that the whole point of the shamdemic had little to do with a disease, but an excuse to teardown some of the remaining bricks of the old way of doing things. I had written a detailed piece observing how Sweden, one of the only few nations to not lockdown, had pretty much already phased-out cash and are totally digital.
As noted by Axios and NewsNation, that old ruse that cash is dirty and could contain germs, is the same thing being repeated once again.
And even cards were being demonized too in the onset of the Covid lie. Sooner rather than later cards will disappear, and there will be a hilarious lie sold to the public to stop using them: ‘Oh, there’s a specific plastic shortage for these cards,’ or, ‘Oh, we need to cutdown on emissions by reducing plastic, so let’s start with credit cards.’
Clearly, this is another step towards normalizing CBDCs and digital wallets the central banks can control; and that will lead to the ultimate goal, the mark of the beast.
[16] And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: [17] And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. [18] Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
Revelation 13:16-18
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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