1.4 million ATMs in the world now accept automatic note deposits, according to RBR’s Global ATM Market and Forecasts to 2026.
Since there are 3.1 million ATMs installed globally, the automated deposit functionality is available on almost half of them.
The Covid-19 pandemic led to a greater emphasis on self-service banking in 2020, as lockdowns. and other social distancing measures meant that customers were unable or unwilling to visit bank branches and carry out transactions face-to-face. And cash was considered a potential vehicle of infection.
Cash deposit still uncommon in Latin America
In Latin America, only 15% of ATMs offer automated cash deposits, but their number is quickly growing. In Brazil 6,800 automated note deposit machines were introduced last year and Brazilian banks seem to like recycling ATMs, which redispense deposited banknotes, to reduce cash management costs. If the deposited cash is “recycled” for withdrawals, fewer cash-in-transit visits are needed to refill machines.
Asia Pacific: first recycling ATMs ever in Pakistan and the Philippines
83% of ATMs in the Asia-Pacific region are cash recyclers, but the situation varies greatly from country to country. In Japan, Indonesia, Malaysia, and Bangladesh, automated deposit machines are very common, whereas Pakistan and the Philippines have introduced recycling ATMs for the first time in 2020.
