Overview
ATMs Evolve in the COVID-19 era.
As the COVID-19 pandemic ripples across consumer payments, the heavily cash-centric ATM is in a challenging position. Consumers’ use of cash for daily transactional purposes (purchases, person-to-person payments) is on the decline, although larger amounts are being held at home. At the same time, FIs are rationalizing and reducing their branch networks and revising branch configurations and staffing, putting ATMs in the role of supplementing cash handling in the branch. Enhanced cash-recycling ATMs are being deployed to improve the efficiency of cash management. Simultaneously, the move to smartphone-based digital interfaces—and now the delivery of digital goods, namely cryptocurrencies—provides new opportunities for existing and new terminals. A new research report from Mercator Advisory Group titled 2022 ATM Market Summary: Coping in a New Cash and Digital Era looks at the usage related to the pandemic environment, cash usage that influence how consumers use ATMs, and trends in the design, deployment and new capabilities.
"The pandemic environment teaches us once again that consumer behavior can change overnight. Some of the changes in consumers’ use of cash may slowly revert to earlier patterns, while others are here to stay and further grow," comments Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group and author of the report.
This research report has 24 pages and 16 exhibits.
Companies mentioned in this report include: Federal Reserve Bank of San Francisco, LibertyX, NCR, Venmo, Walmart, Zelle
One of the exhibits included in this report:
- Shifts in behavioral baselines
- Overall ATM and cash usage trends
- ATM surcharging
- Capabilities in a shrinking ecosystem
Learn More About This Report & Javelin
Related content
Typecast for P2P: How Venmo and Cash App Are Expanding Beyond Paying Friends and Family
Popular person-to-person payment apps such as Venmo and Cash App pioneered the easy digital payment of friends and family with easy-to-use and engaging apps. The problem: Now, thes...
Consumer Debit Payment Choice: Understanding Debit Card User Preferences
Amid a dynamically changing landscape for payments, debit remains a steadfast performer, serving as a workhorse payment method for everyday transactions. As consumer behavior shift...
An Executive Order: What’s the Impact of Eliminating Government Check Payments?
An order by President Donald J. Trump to eliminate the issuance and acceptance of paper checks by the government isn’t the first time an effort has been made to limit the use of th...
Make informed decisions in a digital financial world