Tuesday, August 08, 2017
After years of stagnant growth, likely brought on by a struggling economy, Windows updates, and a burdensome EMV migration, the U.S. ATM population has reached a significant milepost. A new analysis of industry data by ATMIA indicates that there are now between 475,000 and 500,000 ATMs operating in the U.S. market.
“These numbers confirm what we have suspected in recent months,” says ATMIA U.S. Executive Director, David Tente. “There is growing recognition of the important role that ATMs play in our payments system, and alongside of it, in a new wave of branch transformation that is sweeping through the banking industry.”
New functionality is coming to ATMs everywhere. Financial institutions large and small are facilitating pre-staged withdrawals and deploying contactless technologies. Tens of thousands of independent ATMs now provide person-to-person (P2P) money transfer capabilities. And new bank branches are more likely to be smaller and depend more substantially on the use of advanced function ATM terminals.
Looking even further into the future, ATM deployers and manufacturers are coming together to embrace the next generation of ATMs, which will rely on app-based platforms for an enhanced user experience, improved security, and greater interoperability. All of these factors will collectively drive accelerating growth in the ATM channel. ATMIA has launched a Global ATM Innovation portal on its website, which includes the Industry Blueprint for Next Generation ATMs and other resources related to ATM innovation.
For more information about ATMIA activities in the U.S market, contact ATMIA U.S. Executive Director, David Tente.