If you’re looking for a good way to gauge America’s economic health, look no further than the frequency with which you spot ATM machines during your daily travels. These machines, which place access to your bank account little more than a few swipes and taps away, are making a strong comeback after a three-fold series of setbacks in recent years. According to a summer 2017 press release from the ATM Industry Association (ATMIA), a new milestone of ATMs in operation across the country has been reached. Per an ATMIA analysis of industry data, there were approximately 475,000 to 500,000 of these devices in use and the future looked equally bright. What’s more, the capabilities and security of these devices are also being re-tooled and rolled out.
“These numbers confirm what we have suspected in recent months,” David Tente, executive director of the ATMIA, said in the press release. “There is growing recognition of the important role that ATMs play in our payments system, and alongside of it, in a new wave of branch transformation that is sweeping through the banking industry.”
Per the release, recent struggles that the U.S. ATM industry has endured include the severe economic downturn of 10 years ago, operating system updates and the roll-out of the EMV chip that’s now present on the debit card in your wallet or purse. With these hurdles cleared, the ATM industry is free to reinvent itself and start offering services that complement the capabilities of the modern smartphone. So what exactly are the changes coming to Nautilus Hyosung ATM machines among other similar devices from leading brands? According to the press release, pre-staged withdrawals and contact-less technology are among the new perks consumers will be able to enjoy. For those who aren’t up-to-speed on ATM industry terminology, the former refers to initiating the transaction on their phone then completing it with a code or QR image in a fraction of the time at a local Nautilus Hyosung ATM. The latter contact-less technology allows the smartphone to step in as a bank-issued card if its holder happened to forget their card at home. According to Bank of America information, all you would need to do is have a digital wallet installed on your phone and find a contact-less capable ATM to hold your phone over when making a withdrawal.
These are the types of industry innovations that inspires National Cash, which is a leading provider of ATM products and equipment. For business owners who are considering investing in an ATM to offer convenience to customers, you’ll also see a boosted bottom line due to scale-able use fees. Regardless of why you’re looking to add an ATM, the aforementioned technological offerings should provide one more reason to install and Nautilus Hyosung ATM in the near future!