Will Nosto machines disappear from Finland? That is what the nation supervisor solutions – 2024-06-04 01:06:00

“Money is necessary, for instance, from the perspective of safety of provide in Finland,” says Risto Lepo, Nation Director of Nosto ATMs in Finland. Karoliina Paavilainen, Nokas

Withdrawal machines have come to Finland to remain, and that’s within the client’s curiosity.

That is what Nokas CMS’ nation supervisor says Risto Lepo.

Round 500 Nosto machines will change to Otto machines at S Group places by the top of September.

Nokas is at present negotiating new merchandising machines with varied retail chains. There aren’t any names on the papers but, so Lepo doesn’t reveal which chains are in query.

Withdrawal machines are already obtainable in some Lidl and Ok group places.

Recommendations from customers

For about a few weeks, anybody has been in a position to submit needs for brand new merchandising machines on the Nokas web site. In response to Lepo, round 300 proposals have been obtained.

Many of the proposals are from customers, however there have additionally been contacts from corporations.

Nokas guarantees to judge the proposals and produce merchandising machines to one of the best locations throughout 2024.

“Competitors is necessary”

Lepo considers it necessary that the money machine market doesn’t turn into a monopoly, i.e. a dominant place of 1 firm.

When there is just one participant out there, it doesn’t must compete. For instance, it’s simpler to cost totally different charges and lift costs.

Lepo believes {that a} monopoly would weaken companies in additional distant areas.

– I feel the companies can be concentrated the place there are individuals, i.e. inhabitants facilities, Lepo says.

– Sure, this competitors can also be necessary within the sense that the entire of Finland is taken care of.

In response to Lepo, a lean growth might be seen in Finland a superb ten years in the past.

– In response to the statistics of the Financial institution of Finland, the state of affairs till the top of 2016 was that concurrently the banks drastically diminished their money branches, (Loomis, which presents ATMs) Automatia diminished the variety of money machines very drastically, says Lepo.

– It solely was a decline once we signed an settlement with the S group.

The S group gave up Otto machines and changed them with Nosto machines in 2017.

The S group was the most important accomplice

Lepo says that Nokas terminated the cooperation settlement with the S group final fall.

The S group was the corporate’s largest accomplice in Finland.

– Sure, it was huge and necessary, there isn’t any denying that. We had been in a state of affairs the place it was not economically doable and it didn’t make sense to proceed that cooperation mannequin, says Lepo.

– Then we terminated the contract in September 2023.

Earlier than terminating the contract, the businesses had negotiated, amongst different issues, the likelihood that prospects may deposit money by computerized machines.

Lepo says {that a} money deposit is at present not doable, even when the technical situations exist. There are a number of causes. One in every of them is said to banks.

– In this type of market state of affairs, when money is now not in such a giant place and is under no circumstances an important factor for them, banks do not go to debate with us about constructing a brand new system, says Lepo.

Competitor Loomis Automatia purchased Otto machines from banks in 2020.

– Right here, too, the monopoly already exists at Automatia. They’ve these deposit machines and slots for purchasers’ financial institution accounts. It’s not doable for us to make use of it, says Lepo.

Lepo doesn’t reveal precisely why Nokas terminated the contract with the S group. Nonetheless, he says that sooner or later cooperation with, for instance, Nokas Finland Oy, which belongs to the identical group, will probably be simpler. The sister firm presents transport of valuables and money.

Nokas is a Norwegian-owned group that gives, amongst different issues, money companies in Finland, Sweden, Norway and Denmark.

Lepo says that he met the CEO of the group just a few days in the past Rune Hegrestadin.

Hegrestad had promised that Nokas can be allowed to cite his phrases in interviews.

– You’ll be able to quote me and say that Nokas has come to Finland and isn’t going wherever, Lepo quotes.