ATM

A new ATMIA position paper calls for Universal Cash Deposit, an interoperable solution whereby a customer from one bank may deposit cash at ATMs owned and operated by other banks or ATM deployers.

The ATM Industry Association (ATMIA) this week launched Cash Hub. The new portal will house global information about pro-cash initiatives and trends, as well as stories from members about cash during and beyond the pandemic, as a resource for the industry.

Sweden, once the poster child of a society without cash, is increasing the number of cash centres and ATMs to ensure access to cash for all.

Nina Wenning, the CEO of Bankomat, the Swedish bank-owned ATM operator calls for the central bank to incentivise retailers to accept cash by subsidising the cash cycle.

In 2012 an ATM selling cupcakes opened in New York City. Eight years later, Food ATMs are dispensing free rice and other essential staples to those affected by the Covid-19 pandemic in Jakarta, Indonesia and Ho Chi Minh city in Vietnam. The service is proving vital for thousands of people whose nutritional status has been compromised by losing their livelihoods as a result of the pandemic.

Despite the time lag – the payments figures just reported by the Reserve Bank of Australia are for activity in the month of May – the stellar cash circulation figures contrast starkly with the much weaker cash transaction numbers. Cash use in Australia has a long and uncertain road to recovery. This can also be said of other payment methods, as well as the wider economy.

Set against the profound health and economic consequences of the global COVID-19 pandemic, the Reserve Bank of Australia’s reporting that at the end of April, the Australian Dollar currency in circulation hit a new all-time high, in part fueled by a large jump in Australian Dollar $50 and $100 banknotes issued at the end of March 2020. In fact, in the month of March currency in circulation grew by $2,200 million, the 15th largest single monthly rise on record and the highest (by value) March increase ever.

ATMIA today announced the launch of an ATM and Cash Revival Plan for an ATM industry hit hard by the COVID-19 pandemic.

Cash demand is soaring in Russia. The country joins Argentina, Australia, the Euro area and the US, which have also seen a sharp rise in cash in circulation.

Cash and Crises, a series of financial literacy video series by CashEssentials releases its fifth episode with a social mission to support the relief and development community in understanding how cash is managed for society in times of crisis.

Groups representing the currency, ATM, transportation and security sectors call on governments, central banks, media, business and society to stand up for cash.

Indian Bank launches a mobile ATM service for safe and accessible cash withdrawal.