ATM Market in the U.S. Continues to Thrive

The ATM Industry Association (ATMIA) today announced the results of a recently completed project to estimate the current population of ATMs in the USA. After a significant dip in 2020, the U.S. ATM population grew by about 21,000 terminals from 2021 to the end of 2022. ATMIA now estimates the total number of active ATMs to be between 520,000 and 540,000.

“An exact count of ATMs is virtually impossible,” noted ATMIA USA Executive Director David Tente. “The total number of Terminal IDs must be adjusted to account for ATMs that have multiple TIDs, as well as those that are out-of-service or decommissioned but still in the system.”

ATMIA’s previous population estimate of 475,000–500,000 was released in late 2017. The recent low of 450,000 ATMs was experienced in 2020, but many of those ATMs were behind locked doors and out of service due to pandemic shutdowns.

As presented by the Atlanta Fed at ATMIA’s 2023 annual conference, cash in circulation has increased sharply since the pandemic—28% just since 2020. The amount of cash held by individuals as a store of value has also grown. And although the number of cash withdrawals has declined slightly, consumers are withdrawing much more per ATM transaction than a few years ago.

All of this portends well, particularly for independent ATM deployers (IADs). As banks continue to close branches in rural, sparsely populated, and low-income areas, IADs gain more and more opportunities to provide financial services to the consumer and small business markets. We are also seeing steady growth in the deployment of recycling ATMs in retail locations. Again, there are more opportunities for IADs to offer new services, such as cash deposits.

"It is a positive sign to see growth in the ATM channel and continued opportunity to provide consumers with access to cash", stated ATMIA CEO Lonnie C. Talbert. "This, coupled with the rise in app-based contactless ATM transactions increasing to over $5 billion in volume, shows ATM commerce is resilient and trending upward."

The ATM growth seen over the past three years is valid testimony to the bright future of the ATM industry.

ABOUT ATMIA - ATMIA, a division of ePayResources, is the leading non-profit representative of the entire global ATM industry, serving thousands of members from 500 companies spanning the entire global ATM ecosphere, including financial institutions, independent ATM deployers, equipment manufacturers, processors, and a plethora of ATM service and value-added solution providers. Our mission is to promote ATM convenience, growth, and usage worldwide; to protect the ATM industry's assets, interests, good name, and public trust; and to provide education, best practices, political voice, and networking opportunities for member organizations. Visit atmia.com and follow us on LinkedIn, Facebook, and YouTube.