News

Replacements, upgrades to blame for 2005 record-high ATM purchases

September 26, 2006

SALISBURY, Md. - More than 78 percent of the nearly 30,000 terminals acquired in 2005 by financial-institution buyers replaced terminals already installed, according to a recent study conducted by Phoenix Marketing International's ESP Payment Research Group.

The report also concluded that among non-bank buyers, 59 percent of the more than 30,000 units purchased in 2005 replaced existing ones.

According to a news release, demands to meet triple-DES and ADA requirements are the reasons behind the replacements. However, the report said efforts by ATM manufacturers and FIs to expand ATM utilities and broaden market reach also have contributed to the surge.

Since 2000, more than 128,000 units have been added to the ATM installed base.