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Three reasons the ATM is still central to US banks – NCR

#Mobile and online is surging, but a recent Federal Reserve report shows the #ATM is still, after the branch, the most used method among consumers to engage with bank services.   Several factors lie behind this. One is that cash use is persistently strong. While the US is among the leading cashless economies, the Diary […]

and online is surging, but a recent Federal Reserve report shows the is still, after the branch, the most used method among consumers to engage with bank services.

 

Several factors lie behind this. One is that cash use is persistently strong. While the US is among the leading cashless economies, the Diary of Consumer Payment Choice (DCPC) shows how cash “plays a dominant role for small-value , is the leading payment instrument for many types of purchases, and stands as the key alternative when other options are not available”. Cash, at 40 percent of transactions, makes up the single largest share of consumer payment activity, followed by debit cards at 25 percent, and credit cards at 17 percent.

 

A second reason for the ATM’s continued importance in the infrastructure is that the technology can offer much greater functionality than before. Not only do we see bill and check payments, but

 

Of course consumers want more, and in order for the ATM to remain at the heart of retail banking it’s important for deployers to think about what they can offer their users. For example, the ATM Marketplace report on this sector showed how people are demanding more choice and functionality. This ranges from the 64 percent who want cash withdrawals in multiple denominations (not just $20 bills) to the 19 percent who want cardless cash withdrawal using a mobile app.

 

Consumer transaction technologies leader recognized as one of America’s most reputable companies for its innovative solutions, services, workplace and more Duluth, Ga., July 1, 2015 – NCR Corporation (NYSE:  NCR), the global leader in consumer transaction technologies, has been named …

 

 

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