What IC Cash Services does

IC Cash Services GmbH is a Germany-based, bank- and manufacturer-independent operator of cash management systems, headquartered in Taufkirchen bei München and operating since 2005 (independent since its 2007 spin-off from InterCard AG). The company is licensed as a payment institution (Zahlungsinstitut) under the German Payment Services Supervision Act (ZAG) and is supervised by BaFin. IC Cash serves as a full-service provider of ATMs, deposit safes, back-office cash recyclers, mobile cash dispensers, and value-added payment services — most notably early value dating (vorzeitige Wertstellung), which gives merchants next-business-day access to deposited funds. Its solutions are deployed at banks and Sparkassen, commercial real estate, retail chains, petrol stations, hospitality venues, public transport nodes, events, and municipalities, with over 2,000 cash systems installed across Germany and Austria as of 2024.

The company's underlying technology stack integrates third-party hardware (NCR and Hyosung TNS ATMs; CIMA deposit safes; Glory cash recyclers) with a proprietary web-cloud monitoring and reporting platform called IC Cash Monitor that provides real-time visibility, forecasting, and cash-ordering capabilities across the deployed fleet. IC Cash offers a distinctive event-themed ATM kiosk (Cash Hütt'n) for festivals and Christmas markets, and operates specialized mobile ATM units used for branch renovations and emergency cash supply (e.g., disaster response for Kreissparkasse Euskirchen). Cash logistics are supported through partnerships with Prosegur and Ziemann for cash-in-transit services.

IC Cash monetizes through a mix of per-transaction ATM commission revenue shared with location hosts, multi-year managed-services contracts for cash deposit and recycling installations, mobile ATM rental fees, and bundled subscription-like services including IC Cash Monitor and early value dating. Go-to-market combines direct field and inside sales with channel partnerships through banks and Sparkassen, who refer their business customers. The company recently executed a transformative 2025 acquisition of Amsterdam-based In2Retail Holding BV, expanding operations into the Netherlands, Spain, Ireland, and France, and signed a five-year SaaS agreement with Tietoevry Banking for core technology services. Management is led by founders Dr. Kersten Trojanus and Marc Stückemann, supported by Richard Entrop overseeing European expansion.

Name

IC Cash Services

Legal name

IC Cash Services GmbH

Website

https://iccash.de

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

IC Cash Services GmbH is a BaFin-supervised, bank- and manufacturer-independent payment institution operating over 2,000 ATMs, deposit safes, and cash recyclers across Germany, Austria, and four additional Western European markets, serving banks, retailers, municipalities, and event organizers with full-service cash management and early value dating.

Ownership category

akta.pro rank

Product category

Cash Management Services and ATM Operations

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

ATM Deployers & Managed ATM Services (IAD/ISO) (FSAMAOAC)

akta.pro secondary industries

Cash & Coin Processing / Cash Centers (FSAMAOAF), ATM / Cash Access Network Schemes (FSAMAAAH)

Keywords

• Cash management services
• ATM operations
• Cash deposit systems
• Payment institution services
• Mobile ATM solutions

Headquarters

HQ city

Taufkirchen

HQ country

Germany

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. ATM Placement & Commission Revenue: IC Cash installs and operates ATMs at third-party commercial locations (retail, real estate, petrol stations, etc.), earning commission revenue from each withdrawal transaction. Location hosts receive rental income from IC Cash for the use of their space. Revenue is generated on a per-transaction basis.
2. Cash Deposit & Recycling Services: IC Cash provides businesses with cash deposit safes and cash recycling systems, charging service fees for cash counting, validation, secure storage, and transport logistics. Revenue is earned through service contracts with merchants, retailers, and hospitality businesses.
3. Zahlungsdienste (Payment Services / Early Value Dating): IC Cash provides payment services including early value dating (vorzeitige Wertstellung), allowing business customers to access deposited funds the next business day. This is offered as a value-added service bundled with deposit solutions.
4. IC Cash Monitor Reporting & Analytics: Real-time cloud-based reporting platform bundled as part of the full-service offering, enabling customers to monitor cash transactions and order change money. Included as part of the full-service contract.
5. Mobile ATM Rental: Rental of mobile ATM units to banks and sparkassen during branch renovations or disaster response scenarios, including full setup, operation, and cash replenishment.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

IC Cash Services GmbH is a bank- and manufacturer-independent operator of cash systems, functioning as a ZAG-licensed payment institution supervised by BaFin. The company provides full-service cash management solutions including ATMs (Geldautomaten), cash deposit safes (Einzahlsysteme), back-office cash recycling systems, mobile ATMs for temporary deployment, and payment services with early value dating (vorzeitige Wertstellung). It serves banks, retailers, municipalities, petrol stations, real estate owners, hospitality venues, public transport operators, and event organizers across Germany, Austria, and additional European markets.

Product overview

IC Cash Services operates as a bank- and manufacturer-independent provider of cash management systems in the German-speaking market, functioning as a licensed payment institution under the ZAG regulatory framework. The company's product portfolio centers on a core offering of Geldautomaten (ATMs) for cash withdrawals, complemented by Einzahlsysteme (cash deposit systems) for secure cash collection, and Cash Recycling systems for back-office automation. These hardware products are supported by value-added modules including the IC Cash Monitor (a web-cloud-based reporting and cash forecasting platform) and Zahlungsdienste mit vorzeitiger Wertstellung (payment services with early value date for enhanced liquidity). Mobile Geldautomaten (mobile ATM units) are offered as flexible outsourcing solutions for temporary or long-term needs. The company positions itself as a full-service cash management provider, delivering all services from a single source—covering installation, operation, cash disposition, and 24/7 monitoring—across diverse industries including banking, retail, municipalities, petrol stations, real estate, hospitality, public transport, and events.

Differentiator

Problem solved

Functional benefit

Brands

• Cash Hütt'n: A specially designed ATM housing concept for events such as Volksfeste, featuring rustic appearance that blends into traditional festival ambiance.

Products and services

• Geldautomaten (ATMs) Bank- and manufacturer-independent automated teller machines deployed at commercial locations for cash withdrawals. Services include on-site analysis and consultation, professional installation and customization, 24/7 online monitoring via IC Cash Monitor, multilingual customer support, and competitive rental payments to location owners.
• Einzahlsysteme (Cash Deposit Systems) Secure cash deposit safes (CIMA hardware) that process large cash volumes in approximately 40 seconds with automatic counting, note verification, secure centralized storage, and automated reporting. Optional early value dating (vorzeitige Wertstellung) provides next-business-day access to deposited funds.
• Cash Recycling (Back-Office Cash Recycler) Back-office cash recycler systems (Glory hardware) that automate cash drawer opening and closing in under 60 seconds, featuring automatic counting, four-eye-principle verification, automatic note examination, and secure centralized storage. Eliminates manual counting and supervisor-presence requirements for register operations.
• Mobile Geldautomaten (Mobile ATMs) Temporarily deployable mobile ATM units offered for short-term or long-term rental, particularly to banks and savings banks during branch renovations, emergencies, or events. Includes complete outsourcing with setup, maintenance, operation and dismantling services and full cash replenishment.
• Zahlungsdienste und vorzeitige Wertstellung (Payment Services with Early Value Date) Regulated payment services under ZAG that provide early value dating (vorzeitige Wertstellung) for deposited funds, offering increased liquidity to business customers with same-day or next-business-day fund availability. Includes complete cash logistics, cash disposal, and optional coin-money supply services.
• Full-Service Bargeldmanagement for Banks and Sparkassen (Business Customers) Full-service outsourcing package for banks and savings banks covering cash management for their business customers, including software updates, electronics insurance, data backup, remote monitoring, technician deployment, 24/7 support hotline, and WTU (Werttransportunternehmen) management. Offered to banks that want to provide cash services to their business customers without building internal infrastructure.
• Cash Hütt'n Event ATM Specially designed ATM housing concept (Cash Hütt'n) for events such as Volksfeste and Christmas markets, featuring a rustic appearance that blends into traditional festival ambiance while delivering reliable cash access for visitors. Includes full setup, dismantling, and on-site operation outsourced to IC Cash.

Quantifiable outcome

• Cash register opening and closing automated in under 60 seconds using backoffice cash recycler
• +4 more outcomes

Named customers14 records

Segments9 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Tietoevry BankingcoreTechnology or Integration · 2 September 2025IC Cash Services GmbH and Tietoevry Banking signed a five-year Software-as-a-Service (SaaS) agreement for technology services. For Tietoevry Banking, this represents a first step into the German ATM market. The SaaS agreement covers core banking technology services for IC Cash's ATM operations.
• CIMAcoreTechnology or Integration · 1 January 2016Since 2016, IC Cash sources deposit safes (Einzahltresore) and cash recycling systems from CIMA, a renowned global partner in the cash handling sector. CIMA provides the high-speed deposit safe hardware that processes large cash volumes in 40 seconds with automatic counting and counterfeit detection.
• GlorycoreTechnology or Integration · 1 January 2013IC Cash has worked closely since 2013 with Glory, a globally operating company, in the area of backoffice cash recyclers. Their high-end device guarantees optimized performance in cash register opening, closing, and change management, as well as excellent on-site service. Glory provides the hardware for IC Cash's automated cash recycling and register management solutions.
• AGG (Arbeitsgemeinschaft Geldautomaten)coreOthers · 1 January 2010IC Cash is a member of the AG Geldautomaten (Working Group on ATMs), founded in 2010, which represents the interests of independent ATM operators in Germany. IC Cash CEO Dr. Kersten Trojanus serves as one of the spokespersons. The AGG conducts dialogue with media and politics on ATM infrastructure and cash availability, and serves as a technical and regulatory contact for payment policy and cash infrastructure matters.
• NCRcoreTechnology or IntegrationNCR is an optimal partner for IC Cash in the area of cash dispensing machines (ATMs), with over 300,000 devices deployed globally. NCR provides ATM hardware particularly suited to outdoor and TTW (through-the-wall) applications, delivering optimal results for customer satisfaction.
• Hyosung TNScoreTechnology or IntegrationFor more than 10 years, IC Cash has maintained a close partnership with the globally operating Hyosung corporation for cash dispenser hardware. Hyosung's ATMs enable IC Cash to meet customer requirements particularly in indoor installations with space-saving models.
• ProsegurminorOthersIC Cash cooperates with Prosegur, one of the market leaders for cash and valuables transport. Over 4,000 employees and 31 branches in a nationwide network contribute to comprehensive cash supply in Germany.
• ZiemannminorOthersAnother cooperation partner of IC Cash is Ziemann, a Germany-wide security services group with over 3,200 employees at 34 locations and approximately 610 vehicles. Ziemann provides cash-in-transit logistics services.

Scale indicators5 records

Recent moves11 records

Expansion highlights2 records

Broad incumbents

• Glory: Japan-headquartered global manufacturer and servicer of cash handling equipment — including back-office cash recyclers — and a long-standing hardware supplier to IC Cash (since 2013). Glory competes indirectly via total solution offerings that bundle hardware with recurring services in Europe.
• Hyosung TNS: South Korean ATM manufacturer with a substantial European presence and a 10+ year partnership as a hardware supplier to IC Cash. Hyosung TNS competes most directly in indoor ATM installations where the company offers space-saving, full-feature models.
• NCR Atleos: Independent ATM network operator spun off from NCR, providing outsourced ATM services globally including in Europe. As a direct ATM hardware supplier to IC Cash, it is also one of IC Cash's largest potential competitors in independent ATM deployment.
• Diebold Nixdorf: Global ATM manufacturer and managed-services provider with a large installed base in European banks. While broader and primarily manufacturing-led, Diebold Nixdorf offers ATM outsourcing and managed cash services that compete with IC Cash for bank-channel contracts in Germany and Austria.

Direct peers

• Brink's: Global cash-management and ATM services company with a substantial European footprint. Brink's competes across the same end-to-end cash-handling value chain — ATM placement, CIT logistics, deposit, and recycling — making it one of the most comparable international peers to IC Cash.
• Euronet Worldwide: US-headquartered operator of independent ATMs (epay and ATM segments) active in Europe. Euronet's independent ATM deployment business directly competes with IC Cash for commercial-location contracts and shares the same bank-independent positioning.
• Loomis: Swedish-headquartered cash handling, CIT, and ATM services company with operations across Europe including Germany and Austria. Loomis offers a directly overlapping full-service cash management portfolio — CIT, ATM outsourcing, and deposit/recycling — competing head-to-head for enterprise and mid-market contracts.
• Cashpoint: Austrian-headquartered competitor in the DACH independent ATM operator space. Cashpoint operates a comparable bank-independent ATM placement and services model focused on German-speaking markets and is one of the closest direct competitors in IC Cash's home region.
• Cardtronics: Previously an independent US ATM operator now part of NCR Atleos; included here as a historically relevant peer identity in the independent ATM deployer (IAD) category, reflecting direct business-model overlap with IC Cash's ATM placement franchise.
• Prosegur Cash: Spanish-headquartered global cash-in-transit and ATM services company with significant German operations (4,000+ employees and 31 branches). Already a logistics partner of IC Cash (cash-in-transit), Prosegur is also a direct competitor in managed ATM and cash-recruitment services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/ic_cash_at
• LinkedInde.linkedin.com/company/ic-cash-services-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IC Cash Services