Townsend has two ATM models: One has a 10.2 inch main screen through which transactions would be conducted and the short advertisement viewed, and the other would have a 15-inch LCD screen above that shows a looping video advertisement.
A 2008 graduate of Morehouse College in Atlanta with a degree in finance, Townsend is mum on the company's specific plans, although he said he planned to "aggressively roll out" additional ATMs and hire employees.
Townsend said his company has already received requests for ATMs in other parts of the country as more and more consumers grow weary of paying ATM fees.
But Townsend said he plans to place his ATMs "very strategically."
"We target a demographic and we place them in safe locations. Not on street corners in high crime neighborhoods, for example," he said. "We don't put our customers in harm's way. Our goal is to make our customers happy."