Mobile transactions at ATMs are expected to become the fastest-growing service in the coming years, according to a new international survey published Tuesday by the ATM Industry Association (ATMIA). Such transactions are initiated by a mobile phone instead of a plastic card.
Indeed, 54.9% of those polled said mobile-initiated ATM services will enjoy the fastest growth in the next five years. The online survey, conducted during the second quarter of 2013, had 176 respondents in the ATM industry.
Meanwhile, the study found that deposit automation (41.8%) is the the number one recent technology to help develop the ATM, followed by enhanced security features (32.9%), new ATM hardware (28.1%), wireless communications (26%), ATM cash management and/or forecasting software (24%), migration to the XP operating platform (19.2%) and video on ATMS (8.9%).
"While deposit automation has made the biggest recent impact on technological progress in our industry, the survey found that the future of innovation lies in greater linkages between ATMs and customer owned devices in order to create a payments hub where online payments, mobile payments and ATM transactions are interconnected in a seamless customer-focused system, said Mike Lee, CEO of ATMIA, in a press release.