Nautilus Hyosung America Inc.'s Mini-Bank 1500 ATM washeaded to the gallows last year–a victim of age discrimination–but complaints to management by Nautilus Hyosung's distributors and ATM ISOs won the machine a reprieve.
Last year at Nautilus Hyosung's first Users' Conference, the Coppell, Texas-based company announced it was going to discontinue the line, Carlos Siewczynski, vice president of the North American Retail Self Service Division, told 188 attendees last week at Nautilus' second annual Users' Conference in Grapevine, Texas.
"We announced that we were going to discontinue making the Mini-Bank, but after listening to you we changed our minds," Siewczynski told attendees to applause.
Instead of shredding the machine's blueprints and consigning its name to a list of the
disappeared, the conference's organizers placed a Mini-Bank 1500 near the podium,
where its lower body was wrapped with red tape with block-white letters saying 100,000 had been sold.
Nautilus Hyosung distributors and ATM ISOs sold those units during a 10-year period, ending in May, the manufacturer says. Nautilus Hyosung initially planned to replace the Mini-Bank 1500 with the Mini- Bank 1800, a newer, flashier version of the 1500, says Chan Park, company president and CEO.
"We were told the Mini-Bank 1500 was 7 or 8 years old, and it should be replaced with something newer," Park says.
ATM&Debit News learned from other conference attendees that Tranax Technologies
Inc., at one time Nautilus Hyosung's only U.S. distributor, suggested the change.
The proposal helped fuel animosity between the two companies, leading to their
eventual split, the sources say. Hyosung Corp., a $7.7 billion industrial company based in Seoul, South Korea, owns Nautilus Hyosung.
The Mini-Bank 1500, a cash dispenser deployed in convenience stores, fast-food
restaurants and other off-premise retail locations, leads sales for Nautilus Hyosung.
Between February 2007 and May 2008, the company shipped more than 21,000 ATMs,
and the Mini-Bank 1500 accounted for more than 18,000 of the shipments, Nautilus
The Mini-Bank 1800 accounted for 20% of sales in the May-to-May timeframe, Park says.
But the Mini-Bank 1500 clearly is the company's favorite, he says.
"It's a rising star even if it's 7 years old," says Park