Connect with us

Hi, what are you looking for?


Number of installed ATMs falls, says new study

The number of ATMs installed worldwide fell by 1% in 2018, now numbering 3.24 million, according to a recent research. This has been on account of branch closures and the rising popularity of mobile payments. Research firm RBR in its Global ATM Market and Forecasts to 2024, said ATM numbers dropped in 4 of the 5 largest markets in 2018. More than half the world’s ATMs are found in just 5 countries; of these China, the USA, Japan and Brazil saw a decrease in ATMs, while in India, growth slowed considerably, it said. According to the report, each of these markets had its own reasons for the removal of ATMs. In China, the swift adoption of non-cash payments has contributed to a similarly rapid fall in ATM installations. Branch closures have led to fewer bank ATMs in the USA, while IAD expansion was stifled as some retailers chose to withdraw machines rather than upgrade to EMV standards. The Japanese market shrank for the first time since 2009, as banks attempt to improve operational efficiency via increased ATM sharing. Despite these findings, RBR’s study shows that ATM numbers have actually grown in most countries; in particular financial inclusion initiatives continue to bolster ATM growth in developing markets across Asia-Pacific, the Middle East and Africa and Latin America. With this pattern expected to continue over the next few years, the global ATM total is set to fall slowly, to 3.22 million in 2024, it added.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.