ATM spending is expected to be either flat or slightly up

ATM spending is expected to be either flat or slightly up
Tags: North America, Wincor Nixdorf International
June 24, 2010 - Frederick Lowe

ATM hardware and software spending in 2010 will be either flat or up 2 percent compared with 2009, Kartik Mehta, research analyst for Northcoast Research in Cleveland, told attendees Thursday at Wincor Nixdorf Inc.'s Executive Forum.

"In 2010, spending will be primarily focused on replacing old equipment and purchasing equipment for new locations," Mehta said. Last year, large financial institutions spent funds on ATM hardware and software, but for the most part community and regional banks did not, he said.

Wincor Nixdorf Inc., which is based in Austin, Texas, is owned by Wincor Nixdorf AG in Paderborn, Germany.