Press release, 22.9.2017 Cooperation between the S Group and Nosto ATMs improves the availability of cash in Finland
The S Group has launched a partnership with Nokas CMS Oy on ATM services in Finland.
The partnership is based on the new cash withdrawal guidelines the Financial Supervisory Authority has issued to banks. The new guidelines has allowed new ATM operators to enter the market starting from the beginning of 2017. Accordingly, each bank must set an EU-level price for cash withdrawals. This price is independent of the location or ATM from which customers withdraw cash.
“We have long received queries regarding the decreased number of ATMs and the poorer quality of cash services. Through this free competition, we are about to start a new ATM service, together with our service partner, to secure the availability of ATM services for all of our customers in the long term,” says CFO Jari Annala from SOK.
“Nosto ATMs will soon open in our locations, and will have the same costs as other ATMs. Consumers will not face any additional costs from the use of these ATMs. These ATMs can be used with cards of all banks and, in addition to twenty- and fifty-euro notes, they also include ten-euro notes, as requested by customers,” Annala says.
Cash continues to be an important payment method for customers. According to Annala, more than one-third of all customers still pay for their purchases using cash in S Group’s supermarkets.
“We want that our customers can freely choose how to pay for their purchases. That is why we are developing different options in addition to digital payment methods.”