The ATM Industry Association has recognized the 40th birthday of the ATM by producing a white paper on the global benefits of ATMs.

“This white paper presents a factual outline of the many social and economic benefits brought to modern society by forty years of the ATM,” commented Mike Lee, CEO of ATMIA.” Retail purchases outside of banking hours, using either cash from 24 x 7 ATMs or credit cards, have driven the extension of shopping hours beyond previous limits, providing for greater sales, greater employment opportunities and greater convenience for today’s highly mobile citizens.”

The paper outlines the benefits of ATMs to industry, cardholders, retailers, governments, the economy and society in general. It concludes that ATMs an extremely popular and trusted global technology which is at the forefront of modern retail-based economies. They serve a global economy in which 85% of all transactions are still carried out in cash.

According to the paper, ATMs have risen in importance to become the world’s main distribution channel for humanity’s favorite form of payment, which is cash.

“The ATM provides both convenience and financial self-discipline for the modern cardholder by allowing virtually ubiquitous access to cash through debiting the bank account, rather than working on credit-style lending,” Lee said.

For more information, please contact Mike Lee at mike@atmia.com.