As the global foreign exchange market is rapidly growing, so too is the use of Automated Teller Machines (ATMs). The ATM industry has seen numerous innovations in recent years that have allowed for more efficient and cost effective banking and money transfer activities. In this article, we will explore the advances that are reshaping the ATM industry and discuss how these are impacting the forex industry.
ATMs and Cashless Payments in the Age of Automation
The ATM Industry is evolving rapidly, exploring new technologies and opportunities to meet customer demands. Innovations in the industry have enabled new capabilities, and as consumers move away from cash and towards digital payment methods, Automated Teller Machines (ATMs) have become increasingly more important.
The increasing trend of digital payments has prompted many new rules and regulations in regards to banking, an area that has always been subject to government and societal scrutiny. Reports suggest that over 2000 ATMs are installed every day, and experts say that approximately a third of ATM transactions are now done in a cashless format.
As the rise of digital payments gains steam, many industries have become heavily invested in the newest technology. For example, ATMIA (Automated Teller Machine Industry Association) provides $30,000 worth of ATM-specific research to its members each year in order to allow them to better explore the lucrative potential of new solutions. Furthermore, ATM Marketplace has been the leader in covering the ATM industry and offers free news and information about the business of Automated Teller Machines.
The Advantages of ATMIA Membership
The Market Research Library offered by ATMIA provides valuable insights to members, who use this information to ensure that their operations are up-to-date with the latest trends and practices. Additionally, members are able to access valuable resources such as ATM design guides, industry reports, and a range of educational materials. Finally, members have the chance to attend various events and conferences, as well as take advantage of networking opportunities.
EPS, for example, is a leader in the ATM industry and has successfully deployed over 6000 ATMs for 26 banks in urban and rural areas. By taking advantage of their ATMIA membership, these businesses have been able to stay on top of the latest industry trends, regulations, and customer expectations.
Overview of the Global ATM Market
Another free resource provided by the ATMIA is the “Overview of the Global ATM Market” report which sheds light on global ATM trends and best practices. This investigation into the current state of the ATM as a Service industry reveals insight into key global regions and forecasts their future outlook.
In addition, the report also takes a close look at the many new regulations affecting the sector. This includes bans on cashless retail payments in certain countries, regulations and rules related to digital payments, and even the implementation of payment rights.
The ATM industry is constantly being shaped by new consumer behavior, innovation, and governmental intervention.
For more information on the ATM industry, the ATMIA’s website contains a wealth of resources and news associated with the sector. Additionally, the organization holds various events throughout the year dedicated to discussing the future of the industry and how to continue to innovate in this ever-changing field.
The ATM industry is quickly changing and innovating in order to meet customer demands. By taking advantage of resources provided by the ATMIA, companies can stay up to date on the sector’s evolution and ensure that their businesses remain competitive. Furthermore, with new regulations and consumer trends on the rise, the ATM market may see continued growth and expanded capabilities.