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ATM networks will have to be reinvented to face the onslaught of technology

Demonetisation provided the first serious wake-up call that cash will not be king for long, and the business of vending it will have to be reworked

ATM, banks, cash withdrawal, bank fraud, debit card, credit

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Step back and look at how the interchange — the pay-out by a card-issuing bank when a card is swiped at other banks’ ATMs — has played out

Raghu Mohan

5 min read Last Updated : Aug 02 2021 | 6:05 AM IST

There are fresh stirrings in automated teller machine (ATM) networks. Though deployments have crossed 250,000 units, after stagnating at 225,000-235,500 for almost five years, the bulk of the orders are for replacing aging machines. And it will take at least a couple of years more before ATMs are installed at fresh sites.

Why so? It’s a legacy business model, and the march of technology is forcing a rethink on the ATM channel.

Demonetisation provided the first serious wake-up call that cash will not be king for long, and the business of vending it will have to be reworked. But the

Topics : ATMs in India ATMs financial transactions UPI transactions

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