Financial Inclusion scheme introduced by
Indian Government has led to surge in demand for installation of new ATMs which
further aided the expansion of India ATM Cash Management Services Market.
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.
Currently,
ATMs are majorly concentrated in cities and urban areas, whereas very low
penetration was observed in rural areas of the country. Efforts towards
increasing ATM penetration and to increase the efficiency of existing ATM
machines have made India one of the largest markets for ATM deployment in Asia.
whereas, White Label ATM companies are largely focusing on rural areas as
demand for cash is increasing in that area due to Pradhan Mantri Jan-Dhan
Yojana (PMJDY) in which people are encouraged to open bank account at zero
balance which is driving the demand for debit card transactions in rural areas.
Growth in white label ATM installations in rural areas will expand the market
for India ATM Cash Management Services.
As of May
31st, 2017 new RBI circular has mandated banks to upgrade the OS and
security feature of non-compliant ATMs. The need to improve efficiency in cash
handling through improved hardware, has contributed to the replacement demand
for ATMs in India. Many cash dispensers are now being replaced with cash
recyclers to improve the efficiency in cash replenishment in India. However, increase
in number of financial transaction at ATMS majorly due to dependency of people
towards cash drives the demand for ATM cash management services market. Whereas,
non-financial transactions performed at ATMs have declined mainly due to
increasing use of digital applications in India.
Keywords:-
India ATM Cash Management Market
India ATM Cash Management Growth
Indian
Cash Management Market
Number of
ATM Transactions India
India ATM Replenishment Market
India Cash in Transit Market
India
Cash Pickup and Delivery Market
India
Cash Processing Market
Cash
Reconciliation Market
Bullion
Management Market India
Vault
Services Market India
Cash
Circulation Trend India
Importance
of Cash India
Impact of
Demonetization India
Strength
Cash Management Companies India
Market
Share Cash Management Companies India
ATM
Switch Revenue India
ATM
Security Market India
ATM Cash
Handling Market India
India ATM Cash Management Future
Revenue
ATM Cash Management
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
