The Monestiq franchise is an absolute novelty not only in Croatia but throughout Europe. Monestiq is the first and only licence for ATMs, which allows everyone to become the owner of one of these cash dispensers.

This democratizes a market that has so far been reserved only for “big players”: banks and financial institutions. From now on, small entrepreneurs, business owners or private investors interested in entering a dynamic market with rapid growth will be able to participate equally.

What does the Monestiq franchise cover

This franchise opportunity operates on a licence basis. Thus, the licensee receives from the company Monestiq everything necessary for successful work. From setting up the ATM, through filling with money and insuring the amount present in the ATM, to servicing and maintaining the device. Of course, the most important part of this story is the technological one: protocols for processing transactions that allow the device to connect to the global card scheme, that is, the acceptance of cards and the payout of money.

This opportunity is important because ATMs represent a fast-growing segment of financial business. The number of ATMs in Croatia since 2014 to 2019. has increased by more than 60% Namely, although Croatia has 25% more POS devices per inhabitant than the European average, as much as 85% of transactions are still carried out in cash. This is especially true for tourist centers, where the average of cash transactions is even higher.

ATMs and COVID-19

This ratio will not be altered even by the most current topic in recent years: the coronavirus epidemic. It is difficult to expect that the virus, no matter how much “panic” creates, will change the habits of customers in Croatia. Therefore, cash availability will be a key issue for many business premises, especially those in tourist destinations. Moreover, the first instinct of citizens in the time of crisis was the increased demand for cash.

However, due to rising costs, the operations of several bank branches will be unsustainable, so we can expect their closure in future months and years. It’s a process that’s been going on for a long time and now it could be accelerated. Due to all this, one of the possible solutions appears to be the expansion of ATM networks, as simple, fast and secure access to cash. The Monestiq franchise will allow the acceleration but also the democratization of this process.