India ATM Cash Management Services Market is Expected to Reach over INR 4,100 Crore by Fiscal year ending March 2023: Ken Research

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:-

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/india-atm-cash-management-market-forecast-2023-/154994-93.html

Related Reports:-

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-financial-brokerage-market-report/29331-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/india-online-loan-market-research-report/622-93.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

India ATM Cash Management Services Market is Driven by Increasing Penetration of ATMs in Rural Areas coupled with Growth in Financial Transaction in ATMs: Ken Research

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 31^st, 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:-

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/india-atm-cash-management-market-forecast-2023-/154994-93.html

Related Reports:-

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-financial-brokerage-market-report/29331-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/india-online-loan-market-research-report/622-93.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

India ATM Cash Management Market Forecast to 2023 – Ken Research

The report titled “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” provides a comprehensive analysis of India ATM Cash Management Services market introduction and genesis, market size by revenue and working model. The report provides competitive landscape of major players in India Cash Management Services market such as CMS Info System, SIS Prosegur, Brink’s Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash. The report also covers future projections. The report is useful for ATM Managed service providers, Cash management companies, ATM Manufacturers, White Label ATM Management companies, Banks, Reserve Bank of India (RBI), ATM Switch companies, Cash Reconciliation companies, Digital payments merchants and other stake holders to align their market centric strategies according to ongoing and expected trends in the future.

Market Overview:

Until 2000s, banks were offering the ATM services only to their branch customers. With the aim to progress towards a cashless economy, the banks enabled the concept of branchless banking and hence allowed their account holders as well as non-account holders (belonging to other banks) to withdraw cash from their ATMs. Post 2010, banks started to outsource management of ATM to specialized ATM managed services companies. This initiative has helped banks to enhance their penetration in rural and urban areas, on the onset of rising competition among public, private and foreign banks and the quest of RBI to strengthen the financial sector.

Currently ATM Cash management services market is at a developing stage. The Cash Management Services Market is moderately fragmented among top 6-7 players which constituted majority of the revenue share though there are number of smaller players existing in the market.

Market Size: Cash Management is the process of collecting, managing and investing cash in an ATM which are outsourced by banks to MSPs. The current cash management cycle involves cash pick up from bank, cash movement from the bank to the ATMs’ locations, grading, counting, monitoring ATMs for assessing the level of cash in an ATM, and replenishing cash in the machine accordingly. On the other hand, Cash Management companies has undergone in a partnership to form Cash Logistic Association (CLA) during the year 2013, to structure down the growth of India’s ATM infrastructure. India cash management services market increased positively at a double digit CAGR during the period FY’2013 - FY’ 2018, majorly due to increase in services offered by the cash management companies including cash vault services, bullion management, cash processing and others. High number of cash transaction in ATMs directly contributed to the increasing growth of Cash Management Services in India.

Cash Management market has observed a decline in growth rate during FY’ 2016 to FY’2017 due to effect of demonetization on the financial sector which negatively affected the profitability of cash management companies as majority of the ATMs remained out of cash during the period of demonetization. However, in FY’ 18 cash in circulation is back and is currently at an all-time high.

Market Segmentation

By Services: Cash management service companies (CMC) generates highest share of their revenue through ATM replenishment service. On the other hand, CIT contributed third largest share in generating revenue for the cash management companies in the FY’ 2017. However, CIT service turned out to be the second major contributor in terms of revenue share during FY’2018 majorly due to increase in license of new bank branches during the above period. CPD contributed the third largest share in terms of revenue for the cash management companies due to increase in number of retail touch points.

Competition Scenario: The market of Cash Management services in India is moderately concentrated. There are few players which have global presence while some of the players are in plans to expand towards PAN India level. There is a rising trend of increasing the ATM reach to the population in rural, semi-urban areas and thus such companies look forward to get contracts to achieve the same. With expected increase in the FDI in the Cash Management market, it is expected that with the entry of new foreign entrants, the market will become more fragmented in the near future. CMS Infosystem, Writer Safeguard, SIS Prosegur, Securevalue, Radiant Cash, Brink’s Arya, Logicash are some of the major players which constitute majority of the overall Cash Management Market. Out of these players, CMS Infosystem continues to be the market leader for past 4 years.

Future Outlook and Projections:

By Revenue: It is anticipated that India cash management services market will generate revenue at a positive single digit CAGR during the period FY’ 2018 - FY’ 2023. This is majorly due to increasing deployment of ATMs in rural areas under the financial inclusion scheme imposed by Indian government. Schemes such as Pradhan Mantri Jan Dhan Yojana (PMJDY) has further increased the demand of cash at ATMs as number of active ATM card holders have increased rapidly, which will directly increase the demand of cash management companies. On the other hand, it is anticipated that market of cash management services will increase gradually with the high number of cash transaction in ATMs. Though there are government reforms to move the economy towards cashless, Cash has and is expected to continue to remain King in terms of payments and transactions.

Target Audience:-

ATM Security Services/ Solutions Providers

ATM Cash Management Companies

Banks and NBFCs

ATM Managed Services Providers

ATM Manufacturers

White Label ATM Management companies

Reserve Bank of India (RBI)

ATM Switch companies

Cash Reconciliation companies

Digital Payments Merchants

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 Infosystem, Writer Safeguard, SIS Prosegur, Securevalue, Radiant Cash, Brink’s Arya, Logicash

Key Topics Covered in the Report:-

India Cash Management Services Market Size (FY’2013-FY’2018)

India Cash Management Services Market Overview

India ATM Cash Management Services Market Segmentation By Services (ATM Replenishment, CIT, CPD And Others)

India ATM Managed Services market Ecosystem And Value Chain Analysis

Complete Competition Analysis Including Strength And Weakness Of The Major Companies

Competitive Landscape Of Major Players In India ATM Cash Management Services Market

Future Outlook And Projections Of India ATM Cash Management Services Market (FY’2023E)

For more information about the publication, refer to below link:-

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/india-atm-cash-management-market-forecast-2023-/154994-93.html

Related Reports:-

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-financial-brokerage-market-report/29331-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/india-online-loan-market-research-report/622-93.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249