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ico-questionMany of our customers
and partners ask:

"How have you managed to develop many modules and solutions in such a short time? We had never heard about your business until now!"


Yes, we are new company but we are backed by the experience and expertise of Hart (our "mother").

The experience and "know how" has been accumulatied over the past 40 years, developing, manufacturing and servicing multitude of different devices. Some of them were the first in the European market, others have been "the only one of its kind" in countries around the world.

In the last 4-5 years Hart has focused on developing a new line of banking equipment based on the modular approach. Cashphenix International LLC has been established to bring this new line to the world market. We are proud of the history and experience that precedes us. We are sure you will study and analyze our path forward.

The story of "Hart" shows that even as a small company, we can be innovative, providing interesting and efficient market for all scales of business solutions.


Let's start the story from the beginning



This was probably the very first machine for bill payment designed and built with this specific purpose . The receipts were readen by OCR a with a special printer manufactured by philips. It was able to read a particular line in the receipt, where the value of the bill was written and delivered to the internal PC which controlled the banknote aceptor and the coin dispenser.


Patent was applied an placed in operation during the following years.
Later on different models were developed and thousand of units were installed in different countries, in particular in the middle East, being used by most of the local telephone companies as Etisalat, Batelco, Mobily, MTC and Qtel.



At that time ATM's, just delivered banknotes. This first full function lobby version ATM included: 

  • Deposit of banknote in bundle.
  • Deposit coins in bundle.
  • Dispense banknote and coins.
  • Cheque acceptance and reading the microencoding, delivering the check image.
  • Receipt printing.
  • Motorised card reader.
  • Tripple DES encrypting PIN PAD.
  • Video conference through the Data line (Windows 95), just hanging the phone.
  • Barcode reader of bills.

This unit was precursor of the full function ATM concept currently recognised worldwide today.

Few different models were developed and installed since then, including the most recent, but rarely used RECYCLING ATM's. Which we beleive as the definitive solution: The full function affordable recycling ATM.

Cashphenix is has worked to achieve this technology to be affordable for all finantial institutions and retailers.


At this time none of the existing ATM's were using a PC, a color screen or a touch screen with higher capacity PC was the IBM compatible XT with a 4 megabyte Hard Disk and MSDOS. Due to the inexistence of any PC peripheral most of the required hardware had to be developed.


The unit accepted up to 150 different denominations of foreign banknote and dispensed two denominations of local notes. It also returned the exact change of coins and printed the receipt.

Those Units were deployed mostly in Europe, like CITIBANK in Paris, Banco Santander, Banco Bilbao, La Caixa, American Express and installed in mayor airports and touristic places. Some units were installed in middle east and South America, Uruguay, Dubai Airport and many other places. This was the first experience of a large history of developments along the following years.



After Windows 95 was launched, a new series of foreign exchange machines were developed; this time as a multicurrency exchanger.

This unit could accept either foreign or local currencies, and dispense six banknote denominations, local or foreign according to customer configuration.




HART has been one of the very few companies to develop and build coin roll dospensing machines. Practically since its incorporation in 1987, this units were developed, built and commercialized all over Europe, being able to dispense coin rolls of almost all currencies.

With the arrival of the Euro, the attention of the finantial institutions was oriented to other matters, and this necesity was left on hold. Recently we are detecting more and more demand for this application and new models are being prepared to satisfy this growing need.

As well as for the currency exchange, where needs are emerging in the eastern countries, coin roll dispensing is starting to be demanded in bank branches which are surrounded by a high level commercial activity.



Teller machines, Promoted a dramatic change in the branch concept as they allowed to handle high value of banknotes safely in front of the customer with out the need of armoured glass between teller and customer.

Hart was the first company in Europe to successfully install TCR's (Teller cash recyclers) in Banco Sabadell in 1993 by a close cooperation with Ascom, (lately sold to de la Rue, then to Talaris and finally to Glory). Since 1995 Hart started co-operation with glory for the introduction of the Japanese technology of banknote handling in our specific deposit units to be attached to De la Rue, Wincor and Diebold TCD's. We also introduced new TCR's (teller cash recyclers) as well as modifying some units for self service, producing pilots of different self service solutions (Deposit and recycling for NCR, Wincor and Diebold).


After the acquisition of Talaris by glory, Hart decided to develop his own line of banknote handling equipment based in fresh independent concepts well ahead of ancient technology with the aim to facilitate the access to a wider range of users, banks or retailers.


1 - Ascom twin safe recycling module 1992
2 - First deposit module teller assist 1996
3 - Rb 20 type recycling unit 1997


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