Do ATMs have a future?

[Carding Forum]

Despite the global downward trend in cash circulation, ATMs will remain relevant over the next decade. The number of ATMs continues to grow, and the developers are doing everything possible to ensure that their terminals meet the needs of customers.

Implementation of innovations

ATM networks are expanding, and the terminals themselves are becoming more technological. Most modern ATMs work with innovations that could potentially disrupt the traditional realm of finance.

At the end of August, there were reports that in Greece, which is experiencing an economic crisis, plans to install 1,000 ATMs that work with Bitcoin.

This is a kind of survival strategy. ATM vendors are creating solutions for working with Bitcoin, which calls into question the existence of finance in its traditional form.

Biometrics

Biometric technologies demonstrate the potential versatility of the ATM. Last month, a Taiwanese bank unveiled a new ATM that uses multiple biomarkers to authenticate users - palm vein scans and facial recognition.

By constantly improving the experience of interacting with ATM, manufacturers are increasing the lifespan of their devices on the market. Thanks to new technologies, it will be possible to easily refuse to enter passwords at an ATM, and later on from the credit cards themselves.

Evolution

The design of the ATM needs constant revision so that it is not only convenient for customers to use, but also pleasant to look at the ATM.

American ATM manufacturer Diebold has released a new line of high-performance ATMs with improved design. In addition to a more modern look, changing the size and position of the screen on these devices helps to better protect operations from prying eyes.

Financial management

ATMs increasingly infringe on the functions of traditional banks, which continue to cut branches. Now you can open a deposit through an ATM, deposit money into an account, transfer funds and perform other operations that were originally typical of banks.

Future

The fate of ATMs depends on their willingness to keep pace with the times. If it will be possible to exchange Bitcoin at an ATM, log in with a palm scanner, or access an account from a smartphone, there is no reason for these devices to become less relevant.

ATMs are most threatened by the transition to a cashless society. However, the money itself will not disappear anywhere, so even in this case, the ATM has a chance. The ATM can be transformed from a cash dispenser to a terminal for accessing account information and managing finances.