News

Relaxed ATM regs in Argentina expected to result in 30K IAD-operated machines

May 3, 2018

A recent decision by the Central Bank of the Argentine Republic has big implications for the ATM industry in Argentina: For the first time, Argentina will allow placement of off-premises ATMs; also for the first time, the government will allow the operation of ATMs by nonbank providers.

Previously, ATM operating licenses were available only to international Link networks and the local banking network, Banelco, according to a report on the Finance Magnates website.

Odyssey Group, a provider to retail banks, promptly responded with a plan to  install 4,000 of an expected 30,000 IAD-operated ATMs to be installed in Argentina, according to the report.

The group already has installed 200 cryptocurrency-only ATMs in the country and has said that the new machines will be crypto-compatible, as well.

The number of crypto ATMs worldwide is approaching 3,000, according to Statista.