A pilot by Fiserv Inc. involving the use of check-imaging software that enables consumers to deposit checks into their bank accounts through their cellular telephones represents another challenge for the ATM industry. If the product proves successful, it could cause a sizable reduction in ATM use, says one industry analyst.

"It seems likely depositing checks from your phone could have a significant impact on ATM use," Aaron McPherson, a research manager for payments at IDC Financial Insights in Framingham, Mass., tells ATM&Debit News. "Personally, the only reason I go to my bank branch is to deposit checks."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.