In the year 1999 Global Cash Access (GCA) installed QuikCash terminals for its entire client base, which includes over 1,000 separate casinos. Easy and convenient, these terminals have touch screens, smart card compatibility, Hypercom ICE 5000, and FastPOS™ 9600-baud modems.

The old terminals that these replaced had several problems, including that they were not Year 2000 compliant, were not “user-friendly” with convenient touch screens, and did not allow the entry of a PIN- personal identification number.

According to Kirk Sanford, the CEO of GCA, the new system for cash access is much better for several reasons.

“When a customer walks into a gaming establishment, we provide all ways for them to get cash. POS debit cards, credit cards and a check-cashing program tie in with the system. Customers can also send and receive wire transfers through Western Union.”

In addition, the casino and GCA make a percentage of each transaction, ranging between 3%-6%, depending upon the casino. Every time a potential customer walks away from a POS in frustration because he couldn’t make a withdrawal of funds, money is lost for the casino and GCA. Mr. Sanford points out that there has been a 20% increase in cash access transactions at the new POS debit system terminals. With nearly 4 billion dollars worth of transactions each year at the QuikCash machines, Mr. Sanford  knows that installing the latest in POS machines is a gamble that can’t lose.

When most people think of gambling, they think of a high risk venture that is only tangentially related to business.  But not Kirk Sanford. As the CEO of Global Cash Access, Mr. Sanford has been able to harness the gambling industry into a profitable business, with gross revenues topping 250 million dollars in 1998.

Global Cash Access (GCA) is a 250-employee company headquartered in Sunnyvale, California, which provides state-of-the-art tools for accessing funds. Providing the products, services and technology to the casino market with automatic teller machines (ATMs) and point-of-sale (POS) devices, GCA supplies an incredible 85%-90% of casinos in the United States, Canada and the Caribbean with fast and easy ways for their customers to access funds.