India spells end of ATM

As big economies increasingly go cashless, the number of ATMs worldwide has started falling, claims a report published in Asian Review of Tokyo. It cited Retail Banking Research, a British research company specializing in banking technology, cards and payments, saying the total number of ATMs around the world fell for the first time in 2018, slipping 1% to about 3.24 million units at the end of the year.

The Research revealed that in China, the world’s largest market, the number of ATMs fell 6.8% from a year earlier to 690,000. It added that the U.S., the second-largest ATM market, saw the total drop 0.9% to 433,500.

The company revealed that growth slowed considerably in India, the No. 3 ATM market.

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