TORONTO - TNS Smart Network Inc., Canada's largest ATM processor, says it has exceeded 10,000 third-party ATM installations on its network. The company says it expects to hit 11,000 independent ATM installations by the end of 2007.
The strength of the Canadian ATM industry, coupled with the confidence in independent sales organizations and merchants, is driving more ATMs to TNS, the company said.
TNS's installed ATM base represents a number equal to 64 percent of all of the ATMs deployed by the country's big-five banks.
"At the current rate of growth, we expect that within one year TNS Smart Network Inc. will surpass the number of ATMs currently deployed by all Canadian financial institutions combined," said Mischa Weisz, TNS's president and chief executive. "Compared to the banks, our installed base of ATMs is more than twice the size of the largest bank's installed ATM base."
TNS ATM comparison
- TNS Smart Network Inc. - 10,291 ATMs
- Royal Bank of Canada - 4,232 ATMs
- CIBC - 3,818 ATMs
- TD Canada Trust - 3,256 ATMs
- Scotiabank - 2,742 ATMs
- Bank of Montreal - 1,936 ATMs
* Bank information as at Oct.31, 2006
