Cash Demand Driving ATM Deployment Worldwide  

There’s no denying that digital currency use is on the rise worldwide but despite the popularity of crypto, the reality is that cash demand is also on the rise as well and it’s driving more ATM deployments worldwide. 

Will the demand for cash continue? With an economy that’s facing an uncertain future, the reality is that cash provides comfort because the average consumer knows what they have in their wallet or purse, verses what’s in their digital wallet or bank account. 

ATM’s Are Doing More Than Just Dispensing Cash 

Thanks to a recent study by Retail Banking Research (RBR), we know that in 51 of 100 countries worldwide, ATM deployment has increased, while in China it’s decreased, due to the recent removal of 50,000 ATM machines. 

One reason why ATM deployments are increasing worldwide is due to ATM’s offering more than just cash dispensing, they also offer traditional banking services to underbanked communities and countries where it’s not possible to establish new regional branches. 

For example, one country that’s seen a dramatic increase in ATM deployment since 2019 is Egypt; a move led by the Central Bank of Egypt that was also very beneficial for Egyptians during the COVID-19 pandemic. 

Will The Trend Continue? 

Even though more consumers continue to invest in crypto currency each year, ATM deployments are expected to remain steady because today’s ATM’s can also facilitate transactions that were only able to be conducted previously by branch tellers.  

Overall, the future of ATM’s looks bright, especially in the Middle East, Central, Latin America, Asia, and Eastern Europe where ATM deployments has led to better financial inclusion and more consumers being counted among the banked, instead of the unbanked population. 

By Jeremy Raglin, Content Writer