KAL is delighted to announce the launch of its first Retail Teller Machine (RTM) in China.
The Tianjin Rural Commercial Bank is operating its premier RTM in a convenience store in the downtown community of XuYuanXinJu, in the city of Tianjin, 75 miles south-east of Beijing. There isn’t an ATM within easy walking distance, so TRCB is expecting its new RTM to attract a lot of interest among residents of the surrounding apartments.
The RTM provides a full set of financial transactions, including cash withdrawals, transfer, balance inquiry, mobile top-up and bill payments. For cash withdrawals, the customer receives a secure ticket which the shop owner exchanges for cash from the till.
Early feedback suggests the RTM will prove a popular method of banking for residents. The first customer to use TRCB’s Retail Teller Machine to withdraw cash found it very convenient, saying: “As I usually visit the shop every other day, it’s easier for me to get my cash here – while I’m buying my groceries – rather than walking to the ATM.”
Another customer used the RTM to pay her driving fine with her non-TRCB bank card. As a non-Tianjin driving licence holder, this was far more convenient than the usual method of payment.
Other customers appreciated the fact they were able to withdraw small amounts of cash if they wished, unlike at the ATM which has a minimum withdrawal of 100 CNY (approximately $15 USD). The ability to pay phone bills using the RTM was also welcomed, with the facility to accept water and electricity payments expected in the near future.
The RTM also benefits the retailer as TRCB shares its profits from the machine. It also has the advantage of attracting customers to the shop to use it. Once there, they are likely to make a purchase.