Indian ATM market involves cash services, armoured
cash transportation, management, and transportation of valuables, international
shipping of high-tech devices, armed and unarmed guarding, protection services,
and electronic monitoring of premises. ATMs is always considered as a source of
the cash dispenser. However, advanced technology in banking and financial
institutions has developed many convenient way to handle huge number of
transaction including withdrawal of funds, deposits and balance enquiry updates.
India is witnessing a tremendous growth in ATM market due to rapid
digitalization. The recent technological advancements in ATM market are
bill payment, travel booking, and mobile ATMs which has propelled the automation
and security standards within the ATM market.
According to the study “India Atm Market Outlook To 2023 - By Atm Supply,
Managed Services (Atm Repair, Maintenance And Other Services, Transaction
Processing, Cash Reconciliation Statement, Content And Electronic Journal
Management) & Cash Management (Atm Replenishment, Cit, Cpd)”,
Indian ATM industry is opening new avenues for customers who continuously
explored for revenue opportunities and customer relationship services. Indian financial
institutions introduced innovative functionality and revenue-generating
services via ATM channel which propelled the installation of more ATM machines.
Almost all the ATM users in India are focusing on convenience, efficient
services and availability of cost saving measures. Transaction personalization
and envelope-less deposits are the most utilized service within Indian ATM
services market. With advanced technology many customers are using less cash which
is propelling the banks to provide much better digitalization services.
The major players within India’s ATM services are Hitachi
Payments, AGS Transact, Diebold Systems, Euronet, EPS, Tata Communications
Payment Solution, FIS, FSS, Mphasis Payment Managed Services, NCR, and CMS. Leading
companies within India’s ATM Cash Management practice are CMS InfoSystem, SIS
Prosegur, Brink's Arya, Writer Safeguard, Securevalue, Logicash and Radiant
Cash. The major supplies of ATM’s are NCR Corporation, AGS Transact, Diebold
Systems and Vortex Engineering. Indian ATMs are categorized based on types such
as Managed Services, Brown label ATMs, ATMs Completely managed by banks and
White label ATMs. Second highest numbers of ATMs in India are Brown Label ATMs
which owned by banks and further deployed to ATM management companies for their
maintenance and management. White label ATMs in India are very less and are
located in the rural areas to encourage non-banking entities, to reduce the
shortage of ATMs and financial services in rural areas of India.
Indian ATM market involves services such as ATM repair, maintenance,
ATM Site Management, Cash management services, Transaction processing, ATM
supply, Cash Reconciliation Statement and Content & Electronic Journal
Management. ATM repair and maintenance services include services such as FLM, SLM, ATM
deployment, management and operations of ATM. Other services such as
transaction processing, ATM site management, cash reconciliation and content
& electronic journal management are also a part of the ATM service market.
It was observed that the India ATM management
services market is at a developing stage due to very less number of players.
More number of ATM’s is installed in rural and urban areas over the past few
years due to digitalization. The need for a savings account for per individual
has led to new savings accounts and witnessed a steady growth in the use of ATM
cards within the country.
The ATM market in India will witness a steady growth
with increase in revenue over the next few years due to various schemes offered
by the government. The increasing awareness among the Indian population of
semi-urban and rural areas about the usage of ATMs will drive the market in the
next few years. These developments will drive the need for more ATM’s
installations in the country especially in the rural areas over the next few
years.
Key Topics
Covered in this Report:-
India ATM Managed Services Market
Brown Label ATMs in India
Portable ATMs Market India
Cash Management Market India
Outsourced ATMs in India
Number of ATM Transactions India
ATM Managed Services Revenue India
White Label ATMs in India
ATM Replenishment Market India
Electronic Journal Management Market India
Cash Reconciliation Market India
Cost to Set up ATMs in India
India ATM Market Trends
Investment India ATM Services
Penetration ATMs in Rural Areas
India Banking Industry
Underbanked Population in India
Unbanked Population in India
Global ATM technology trends
Tender Bid Process ATM Managed Services
Cash Withdrawals in India
Impact of PMJDY on ATMs
For more information on
the research report, refer to below link:-
Related
Reports:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
