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Spectacular ATM growth in Asia-Pacific

Categories : Cash is efficient
July 8, 2016
Published in : Asia, ATM, Availability, Banknotess
The number of installed ATMs in the Asia-Pacific region has risen by 12% in 2015 due to a growing demand for cash.
Communication Team

According to RBR report “ATM Hardware, Software and Services 2016”, the number of ATMs installed in the Asia-Pacific region has increased by 12% last year. The study is based on data collected in 11 countries. 

With a 21% increase, Bangladesh demonstrated the most important growth. This rise is due to new regulations allowing deployers to implement new ATMs without the consent of the central bank. Pakistan, India, China and the Philippines also registered a two-digit growth in their ATM- base in 2015.

Robert Chaundy, leader of the study, declared that the strong demand for cash and the great number of unbanked people in these developing markets will probably encourage deployers to continue expanding their installations. The Asia-Pacific region, however, still has a fair way to go to catch up with Europe where there are 794 ATMs per million people compared to 335 in China. 

In Europe, the number of machines installed decreased in 12 countries, but the offer is still considered as very satisfactory. Besides, the demand for software and services is rising. Poland and Turkey are the only countries to have registered a growth in their installed base. 

The study also shows that banks are now using increasingly sophisticated software, forcing deployers to constantly upgrade older machines. 

To read the original article, click here

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