Esprit Financial Group has signed a Memorandum of Understanding with Hongkong-based Money Check International Limited to deploy ATMs in mainland China on a Joint Venture basis. The parties will be working together to build a business case and business model to support their plan.

Esprit CEO Garr Winters advised, “The market opportunity for ATMs is tremendous. Current estimates place the number of ATMs in China at roughly 10,000. Industry forecasts suggest that this will grow to 1 million over the next 5 – 7 years.”

Gross revenue per transaction within China is currently 7.5 times higher than mature markets like North America. A typical ATM transaction in China generates roughly USD $3.00 in revenue, versus roughly USD $0.40 in North America in interchange fees alone, said Garr Winters. (PRNewswire)