The ATM at 50: Think outside the box

first_img 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Fifty years ago, the ATM revolutionized financial services, changing consumer expectations and spending habits by introducing people to the ease and speed of 24/7 self-service money management. No longer tied to bankers’ hours, consumers had ready access to cash whenever and wherever there was an ATM.ATMs remain busy places. Consumers made approximately 5.8 million ATM withdrawals in 2015 and the amount withdrawn per transaction is trending upward, according to a 2016 Federal Reserve study. Expectations & Experiences: Household Finances, a recent quarterly consumer trends survey by Fiserv, found cash is still among the most frequently used payment methods for U.S. households.Once simply a reliable and trusted way to get cash, the ATM is evolving to meet consumers’ changing needs while also providing key benefits for financial institutions. continue reading »last_img

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