Some of the key people behind the failed MyATM business have started a new business using what appears to be the same business model, news service
InDaily reports.
Donald Fleming and Dee Fleming are two of the principals of a new business called OurATM. This new business is seeking investors in automatic teller machines, which OurATM will then seek to place, in collaboration with an independent deployer.
The website of OurATM projects "monthly minimum income proceeds" of either 30 cents per transaction, a 20 per cent per year return on capital or 12 per cent of the transaction fees generated by the ATM, "whichever is the greater".
The MyATM business operated in a similar manner. Some other niche ATM businesses also do so.
MyATM (which was ASX listed) went into voluntary administration in December last year. Korda Mentha is the administrator.