Security News > 2021 > February > £30m in contracts awarded in Post Office's £357m ATM overhaul

The UK Post Office has awarded two contracts worth a total of £30m for a banking network and ATMs system in a procurement expected to be worth £357m once all contracts are awarded.

UK government-owned company which runs the familiar local outlets has awarded Cennox a £26m contract for banking automation managed services while Vocalink has won a £4m contract for provision of a highly resilient, compliant and secure platform providing ATMs. The Post Office said last year it planned to close almost a third of its 2,000 cash machines, which are free to use and valuable to the public where alternative facilities are scarce.

Convenience stores largely charge to withdraw cash at ATMs. Post Office machines are owned and operated by Bank of Ireland which is set to pull out of the arrangement.

"Solutions will depend upon the demands of each branch and a number of demographics such as geographic location and cash in/outflow in Post Office branches," according to the original £357m framework contract notice.

The Register was surprised to learn there was demand for bitcoin among the pensioners who largely representing Post Office clientele, but you never know.

They include lots for ATM hardware; self-service hardware, including deposit and cash recycling equipment and teller cash automation supply; as well as the two lots in which the Cennox and Vocalink contracts have been awarded.

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