Decoded: Life behind the ATM and how the cassette-swap mode will change it

Will the interchange fee after free transactions increase with the shift to cassette-swap mode?

Come June 1, and you will be able get better quality notes from ATMs because of the cassette-swap mode of loading cash. Over time, the initial four-phased roll-out across 30 cities will span the whole ATM network, which is 250,000-strong, and counting, albeit slowly.

So, what is a cassette-swap?

It’s a lockable mechanism, and way superior to the practice of open-cash replenishment at ATMs. That is, personnel at cash-in-transit (CIT) firms – that move cash to load it into ATMs – will no longer be touching it anymore. It may not be truly cutting-edge technology, but the cassettes have smart