Analysts
at Ken Research in their latest publication, “India
ATM Cash Management Market Forecast to 2023 – by ATM Replenishment, Cash in Transit,
Cash Pickup and Delivery and Vaulting Services, Bullion Management, and Cash
Processing” believe that promoting better regulations, setting up
ATMs in rural areas and focusing towards timely ATM replenishment will aid the India
ATM Cash Management Services Market. India ATM Cash Management Services market
is expected to register positive CAGR of around 6.8% during the period FY’2018-FY’2023
in terms of revenue.
Increase
in retail customer base in terms of jewelers, gold loan companies; retail
stores along with hospital chains will drive the demand of cash management
companies as these all customer’s deals in large volume of cash transfers.
Growth in
debit cards and increasing direct benefit transfers will lead to surge in cash
withdrawal and a higher demand for ATMs in future, which will imply banks to
outsource more number of ATMs to cash management companies.
Rising number
of transactions performed in an ATM will shoot up in future with the
introduction of machines such as bunch note acceptor and cash recyclers in the
market. As, these machines allows various other features other than cash
withdrawal such as cash deposit, updating passbook, user KYC and others will
augment the growth of India ATM Cash Management Service market.
Cash
management services also provide other services such as vaulting services,
bullion management, and cash processing which will further aid the demand for
ATM cash management service providers as there is an increase in demand of
these services.
ATM
recycling machines installations will grow in future and banks would be
outsourcing these machines as well. Interoperability will be a game changer.
This will lead to double the transactions with lower CRA cost.
Increasing
use of digital payment apps in future will decline the non financial
transactions as it will allow people to check their account balance and keep a
track record of their past transactions. However, total number of transaction
in an ATM will increase in future as majority of the people still depends on
cash transaction as compared to making digital payments. Cash will continue to
remain King in terms of payments, shopping and other transactions in future as
well.
Keywords:-
Number of
ATM Transactions India
Cash
Reconciliation Market
Bullion
Management Market India
Cash
Circulation Trend India
Importance
of Cash India
Impact of
Demonetization India
ATM
Security Market India
India
Cash Management Services
India
Cash Management Services Market Value
India
Cash Management System
India
Cash Management Services Market Revenue
Cash
Management Services in India
India
Cash Management Services Market Competition
India
Cash Management Services Market Size
Products Covered:-
ATM Replenishment
Cash-in-Transit (CIT)
CPD (Cash Pickup and Delivery) /RCM (Retail Cash Management)
Vaulting Services, Bullion Management, and Cash Processing
Companies Covered:-
CMS Info System, SIS Prosegur, Brink’s
Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash
For more information
about the publication, refer to below link:-
Related Reports:-
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
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