99 Billion Withdrawals: ATM Usage Remains Strong Despite Growth Of Cashless Payments

Posted On: 2/20/2017

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TAGS: RBR ATM study, 2015 ATM cash withdrawals, worldwide ATM usage, cash machines, cash usage trends, ATM usage in China, Rowan Berridge

RBR ATM study, 2015 ATM cash withdrawals, worldwide ATM usage

LONDON -- New research from RBR, a London-based consultancy, shows that ATM cash withdrawals grew by 10% worldwide in 2015, the fastest rate since 2011. According to the study, 99 billion cash withdrawals were made around the globe in 2015, with the number of withdrawals rising in all regions.

Growth in Chinese ATM usage accelerated 23% as a result of rising financial inclusion and efforts by banks to migrate more transactions to self-service formats. China accounted for a staggering 24 billion withdrawals, almost a quarter of 2015's total. RBR also reported similar factors at play across other developing markets; Egypt, India, Indonesia, Malaysia, Pakistan and Saudi Arabia, for the same reasons as in China, saw strong increases in ATM transactions.

Although the research shows that ATM usage is stable or even falling in some mature markets, most continued to see an increase. In the U.S., for example, where an increase in surcharges contributed to a decline in withdrawal volumes over a number of years, transaction levels rose slightly in 2015.

"Global usage data [point] clearly to the enduring importance of the ATM channel, both in mature and developing markets," said RBR's Rowan Berridge. "Despite rapid growth in cashless payments, demand for ATMs remains robust and we forecast cash withdrawal volumes will continue to increase in most countries for the foreseeable future."

RBR is a strategic research firm with three decades of experience in banking and retail automation, cards and payments. It provides independent advice and intelligence through published reports, consulting, newsletters and events.