Saturday, March 21, 2020View Showroom
SIOUX FALLS, SD, March 21, 2020. Since their introduction more than 50 years ago, ATMs have become an important element of the U.S. economic system. That importance escalates even further in times of crisis – the first visible evidence of which is often long lines at ATMs, as consumers replenish their cash reserves.
Although we are not seeing the long lines typical of a hurricane or other natural disaster, the closure of some bank branches, restaurants, and retail establishments will make many ATM locations inaccessible. Both financial institution and independent ATM operators are working hard to ensure that all available ATMs are functioning properly and that cash replenishment cycles are keeping up with demand. In recognition of the important role that ATMs play, the U.S. Department of Homeland Security, Cybersecurity & Infrastructure Security Agency has included ATMs on their list of “essential critical infrastructure”. The March 19th DHS Memorandum, which includes a list of essential workers, can be downloaded from the ATMIA website.
Recent strategies surrounding “branch transformation” have moved some ATMs into the bank branch from outside locations. Branch closings will make those terminals inaccessible to the public. However, most financial institutions outside of downtown business districts offer drive-thru options that will continue to operate.
ATMs operated by independent businesses account for nearly 60% of all ATMs in the U.S., which includes many that are “branded” by financial institutions. Independent ATMs can be found in restaurants, hotels, transportation hubs, and retail establishments of all size and sort, as well as in rural areas where bank coverage is thin. For all those locations that remain open and accessible, independent operators are committed to making certain that their ATMs have cash available and are functioning properly.
Even in normal times, cash remains a preferred payment method for most consumers – and should always be an option that they can choose.
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ABOUT ATMIA — ATMIA is the leading non-profit trade association representing the entire global ATM industry. ATMIA serves more than 11,000 members from over 650 participating companies in 65 countries spanning the whole ATM ecosphere, including financial institutions, independent ATM deployers, equipment manufacturers, processors and a plethora of ATM service and value-added solution providers. ATMIA provides education, advocacy and connections to help its members keep abreast of industry news and developments; increase knowledge and professionalism; improve operational efficiencies; understand and influence regulatory processes; participate in the local, regional and global ATM community; and forge new relationships to advance their businesses. Founded in 1997, ATMIA has active chapters in the United States, Canada, Europe, Latin America, Asia-Pacific, Asia, Africa, India and the Middle East focusing on the unique needs and issues of each region. For more information, visit atmia.com. Follow us on LinkedIn, Twitter or YouTube.