SAGA’s ATM with cash recycling functionality was granted a patent

A Moscow-based company patented its SAGA S-200 ATM with cash recycling functionality. The cash terminal is assembled of mainly domestic components and materials and uses domestic software. The enterprise’s production capacities allow for the annual ATM output of over 25,000 machines.

“With the current sanctions imposed, many companies are seeking to replace imported components with domestic solutions. Today our industrial enterprises are able to offer such solutions, including high-tech products. For example, SAGA have developed and patented an automatic transaction terminal which is assembled in Moscow. This up-to-date machine offers cash recycling functionality: banknotes received from one user will be withdrawn by another user without having them processed by a bank or by any other financial institution. This will significantly reduce the cost of cash collection and operating costs,” Vladislav Ovchinskiy, the Head of Investment and Industrial Policy Department said, his department is part of the Moscow Complex of economic policy, property and land relations.

With this solution financial institutions will be able to improve the speed and quality of customer service, become less dependent on foreign vendors and make their ATMs compliant with the requirements of the Central Bank and the Government of the Russia.

The patented ATM has been tested by the Russian Chamber of Commerce and Industry. The test report has been sent to the Ministry of Industry and Trade to have this ATM solution included in the register of domestic goods.

The developers claim that their ATM will be able to provide video recording of all transaction, scan barcodes and QR codes, print receipts and balance statements. Its functionality also includes a special system designed to quickly accept banknotes in bundles.

“It took us over 7 years to develop SAGA S-200 ATM and make it look like it does today. We were continuously improving the product in view of growing customer technical requirements to ATMs and their functionality. On top of that, the product was improved to have it complying with the requirements of the Central Bank and new decrees of the Government of the Russian Federation. It should be noted that our company also offers maintenance services for our products. Since March 2022 most foreign suppliers ceased provision of their services in the Russia’s market. In this regard, the S-200 ATM meets all the requirements that are currently applicable in the market of fintech devices in Russia," said Andrey Zholobov, SAGA’s CEO.

Source: Press-service of the Moscow Investment and Industrial Policy Department