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InterWallet places 1,000 payment kiosks with Open Payment Solutions

From:www.kioskmarketplace.com Update Time:03-26-2014

InterWallet, a provider of multi-function payment kiosks, is to place 1,000 kiosks with Open Payment Solutions, a Florida-based company that manages 700 gas stations and convenience stores in Florida.

The ATM-style kiosks manufactured by Delaware-based InterWallet provide a variety of services to mainstream consumers as well as to unbanked and under-banked consumers. These include bill payments to 10,000 billers, as well as the sale of phone cards, prepaid debit cards, and movie and show tickets.

The kiosks can also sell and purchase Bitcoin and other digital currencies. Payment options at the kiosks include cash, debit cards and bitcoins, InterWallet says.

"We believe this product will open doors for our customers by giving them access to the financial services they need most," Evan Kagan, Open Payment Solutions' chief legal counsel, said in a statement.

"One of the challenges is to ensure we meet not only the needs of the consumer, but also to ensure that all the products and service offerings we provide are fully compliant with all U.S. regulations," Robert Frimet, InterWallet's chief compliance officer, said in a statement. "This is absolutely mandatory."

Frimet tells KioskMarketplace.com that the InterWallet kiosks will be installed in Florida within 60 days, and that the company is also placing kiosks in Nevada, California, Colorado and Washington State.

InterWallet's kiosks will meet financial industry compliance requirements including KYC (Know Your Customer) through a built-in document scanner and imaging technology which will have the capability of taking a picture of a customer or their identification, the company says.

InterWallet founder Aric Fedida said he wants to offer his company's products and services worldwide. The company is in the process of placing terminals in China, the Netherlands, the U.K. and Canada. Other services that could be placed on the machines include traffic and parking ticket payments, Broadway show tickets and food service applications. The company also plans to launch a wire transfer platform in the third quarter of 2014.

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