The global ATM Managed Services Market size was valued at $6.6 billion in 2020 and is projected to reach $10.6 billion by 2027, growing at a CAGR of 6.9% from 2020 to 2027.
The ATM replenishment & currency management segment dominated the ATM managed services industry in 2020 and is projected to maintain its dominance during the forecast period. As the requirement of these services by banks and financial institutions largely takes place for their installed ATM machines and is expected to rise in the upcoming years. Furthermore, rise in advanced ATM monitoring tools, live track on cash status, and direct access to accountability for currency management, are some of the factors driving the growth of ATM replenishment & currency management segment during the forecast period.
The Key Market players declared in the ATM Managed Service Market report include AGS Transact Technologies Ltd., Euronet Worldwide, Inc., Financial Software & Systems Pvt. Ltd., Fiserv, Inc., FUJITSU, Hitachi Payment Services Pvt. Ltd., and NHAUSA.
June 8, 2020-AGS Transact Technologies Limited (AGSTTL), one of India’s leading providers of end-to-end cash and digital payment solutions & automation technology has successfully developed & tested ‘Touchless’ ATM solution in light of COVID-19. ATM cardholders can now withdraw cash from an ATM by scanning a QR code on the machine’s screen without having to touch the surface. AGSTTL is currently providing demo of this solution to the interested banks. This contactless solution by AGSTTL enables a bank customer to perform all the steps required to withdraw cash from an ATM using the mobile application itself. The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank’s mobile application. This includes entering the amount and mPIN required to dispense the cash from the ATM machine. The QR code feature makes cash withdrawals quicker & more secure, and negates the chances of compromising the ATM Pin or card skimming.
Euronet USA, LLC, a division of Euronet Worldwide, recently launched its REN Foundation solution for Banco de Moçambique. Delivered through Sociedade Interbancária de Moçambique (SIMO), the REN™ Foundation modernizes Mozambique's national payment network and will help SIMO offer innovative payment solutions to member banks and their customers. Rob Brakensiek, Vice President of Implementations and Project Services at Euronet Software Solutions, said about the launch, The pandemic certainly presented unique challenges to our delivery timeline, primarily in the lost opportunity to be onsite. However, as a global company with decades of implementation of software solutions, Euronet was well prepared to manage this critical project remotely and met our original objectives of going live in 2020.
July 20, 2020: CR2 was named as a Top Performer in The Global Edition of Celent’s Report – The Modern Digital Banking Channels Platform. CR2’s surveyed customers scored CR2 highest in implementation and post implementation, with no other vendor scoring better. This success factor is critical in today’s COVID environment, where a swift and seamless implementation of a digital project is crucial. Other positives reported by our customers include ease of use, flexibility and robustness, out-of-the box functionality, great UI, ease of integration and quick customization.
One Articles showed that ATMs will become the banks of the future as more branches close, said Bill Versen, chief product officer at Transaction Network Services, in the report. He believes ATMs will adopt biometric identifiers like fingerprint and facial recognition to enable cardless usage. They'll also include "services as diverse as applying for loans, buying lottery tickets and dispensing foreign currency," he said. The key driver of ATM industry changes is global saturation, said Daryl Cornell, CEO at Triton Systems, a maker of ATMs. "The ATM ecosystem is no different than any other cyclical industry, where participants ride the growth wave profitably for years or decades before the inevitable peak and subsequent decline."
Segmentation of ATM Managed Services Market by ATM Type, Conventional ATM, White Label ATM, Black Label ATM, Cash Dispenser and Smart ATM. By Service, Electronic Journal & Content Management System, ATM Service & Repair, First Line ATM Maintenance, Second Line ATM Maintenance, ATM Deposit Automation and others. By region it has North America, Europe, ASPAC and RoW. Based on region, Asia-Pacific contributed the highest share, accounting for more than two-fifths of the total market share in 2020 and will maintain its dominance throughout the forecast period.