COVID-19 has made an enormous impact on the payments industry. The crisis has brought changes and innovations across different sectors. Let’s take ATMs. If you’re interested in what will happen to the way ATM will be used in the future and who can help you with reliable and low cost countertop ATM machine.
Cardless ATMs on the Rise
The increased use of contactless cards has made Google Pay, Apple Pay, and other mobile platforms more popular in the U.S. in recent months. London’s RBR has recently released its Global ATM Market and Forecasts to 2025 study.
This is a top provider of strategic research and consulting services to organizations involved in retail banking, banking automation, retail technology, cards, and payments.
Based on the study, the number of ATMs allowing for cardless cash withdrawals is on the rise. Specifically, this type of withdrawals grew by 26% last year. Such rise was especially vivid in the U.S.: in fact, the number of cardless ATMs has more than tripled in the country. Globally, without taking into account the U.S. stats, the number of cardless ATM cash withdrawals has grown by 10%.
More on Cardless ATM Withdrawals: Countertop ATM Machine
Fidelity Information Services (FIS) and Payment Alliance International, a provider of ATMs, may introduce Cardless Cash and Touch ID. As a result, users can use their mobile devices to access ATMs. They plan 95.000 U.S. ATMs in 2020, as The Verge reports.
Given the current changes in the economy, many business owners need fast and easy access to additional working capital. If you’re one of them, consider applying to a reliable alternative online lender that offers the safest and cheapest possible merchant funding services in the field. With the right processor and lender, you can get exceptional merchant services, including a countertop ATM machine.
In fact, cardless ATMs have the potential to serve as a key tool for banks in need of relevant branches. ATMs play an important role for banks as they’re responsible for many transactional services provided by tellers at a much cheaper cost per transaction.
So, the world is concerned about COVID-19 and faced with challenges brought about by the crisis. One of the changes has to do with cardless cash withdrawals: they’re on the rise globally and are likely to become mainstream.
Author Bio: Michael Hollis is a Detroit native who now lives in Los Angeles. He is an account executive who has helped hundreds of business owners with their countertop ATM machine solutions. He’s experimented with various occupations: computer programming, dog-training, scientificating… But his favorite job is the one he’s now doing full time — providing business funding for hard working business owners across the country.