News

GRG dominates Chinese ATM market for 5th straight year

March 22, 2013

Financial News, a Chinese financial industry publication, has released its Chinese ATM Market Overview 2012. The report credits GRGBanking with slightly more than 20 percent of the Chinese ATM market, making the company China's largest ATM provider for the fifth consecutive year. GRG delivered 20,170 ATMs to the Chinese market last year.

In 2012, major banks in China purchased 60,800 cash recycling machines, accounting for 60 percent (47 percent in 2011) of total purchasing volume, the Financial News report said. The number indicates that the cash-recycling machine has become the mainstream of the market.

Overall, the Chinese market experienced fast growth in 2012, a pattern that is projected to continue through the next three to five years. Industry analysts predict that in that time, China will surpass the United States as the world's largest ATM market.

The report also found that financial managed services are proven to help banks lower both operational costs and risk, thus helping to ensure competitiveness over the longer term.

However, Financial News observed, the managed service sector is hampered somewhat by an insufficient management system and the lack of standards and guidelines for quality control and resource integration. These could turn out to be considerable restraints on the sector, the report said.

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