ATM yield dives at DC Payments
Revenue and profits are on the wane at DC Payments, the largest independent operator of ATMs in Australia.Revenue fell eight per cent to A$86 million over the nine months to September 2016, while gross profit fell 11 per cent to $40 million, a profit margin of 46.5 per cent.In commentary with its September 2016 financials, DirectCash Payments Inc, a Canadian firm, said that compared with the June 2016 quarter, "ATM revenue in Australia for the three months ended September 2016 was consistent."For the three and nine months ended September 2016, ATM revenue in Australasia decreased by 12 per cent and eight per cent, respectively."The decrease was a result of the reduction in ATM transactions in Australia."Offsetting the reduction in transactions was new revenue" generated from the OneCash acquisition in July 2015 and the GRG acquisition in February 2016 as well as the consumer direct charge increases".DC's fleet now also includes 3500 ATMs acquired by the takeover of Cashcard, giving DC 11,500 ATMs.