Don't Let Your Wallet Suffer: Pay with Cash to Avoid Hidden Fees

We have now passed the halfway point for the year, and it is clear that the ATM Industry is having a strong year. We particularly want to draw attention to the increasing pushback against cashless payment options and the growing awareness within the community of the hidden costs of relying on cashless payment options. Earlier this month, Channel 7 released a report into the costs of cashless payment terminals. The report drew attention to the pressures that hidden costs such as transaction fees are having on small businesses, which either take a hit on the business’s profit margin or are passed on to consumers in the form of higher prices.

The key message made in this report is the must effective way to avoid hidden fees is to pay in cash. This sentiment was also echoed in a recent trend on social media calling to use cash only from 3 July 2023 to 10 July 2023 in protest of a cashless society. To read more, click here.

Mark Your Calendars – Upcoming Forums in August

Last week, ATMIA hosted a webinar discussing cash payments and the trends in cashless adoption, along with initiatives to support the ATM Industry. Attendees were fortunate enough to hear from industry expert Marcus Lim, who provided insight into the payment landscape in Malaysia. They also heard from ATMIA's International Advocacy Manager Sofia Sadiq, who gave an informative presentation on the Future of Cash and what the Cash Cycle will look like in 7-10 years. To access the webinar, please click here.

ATMIA will be hosting our next Strategic Direction Committee teleconference on 24 August at 4 pm AEST. We believe in creating strong relationships with industry partners, and this forum will include the Reserve Bank of Australia and Clubs NSW. Our members will have the opportunity to engage in expert dialogue. If you require us to resend the details for this forum, please reach out to me at [email protected].

With over 25 years as a leading Global ATM Industry Association, ATMIA remains committed to serving our members. Feel free to contact us for any questions or concerns, we strive to provide exceptional service to our members.

Don’t forget to visit the ATMIA website for all details to our upcoming events :

September – Global Security Summit – USA  

October – Europe & Emerging Markets ATMs & Cash Summit – Dublin

Cheers,

Sandra Smith, 
Executive Director, Asia/Asia Pacific