News

GRG tops list of ATM suppliers to China for 8th year running

June 22, 2016

GRGBanking recently announced that it has been named China's top self-service equipment supplier for the eighth consecutive year, according to that country's authorized research institutions.

In terms of market share, the leading ATM vendors in the Chinese market last year were:

• GRGBanking (27.85 percent);
• Hitachi (13.35 percent);
• Cashway (11.49 percent);
• King Teller (10.94 percent); and
• Yihua (10.82 percent).

Also in 2015, China overtook Japan as the largest supplier of cash recyclers in the Chinese market, having shipped 21,460 units domestically, compared with Hitachi's 17,913 units.

For the first year, there were no Western ATM vendors on China's list of top five vendors, mostly attributable to new government regulations that prohibit foreign vendors from operating in the country except under the auspices of a domestic partner.

This move has adversely affected manufacturers such as Diebold Inc, Nautilus Hyosung, NCR Corp. and Wincor Nixdorf AG that previously claimed a growing presence in the Chinese market.

And it is a fast-growing market. Figures from the People's Bank of China show a total of 866,700 ATMs online in 2015, up 41 percent from 2014. Since 2013, China has claimed first place as the world's largest market for payment cards and ATMs, according to People's Bank data.

source: Financial News (China)