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REPORT: U.S. ATM numbers and usage are on decline
February 24, 2008
South Florida Sun Sentinel:U.S. consumers are using ATMs less often, according to research conducted by Boston-based Aite Group LLC. And, the country's number of ATMs are dropping as well. Aite found that the number of ATMs in the United States fell 9 percent in 2007, the first big drop since the machines began spreading throughout the market in the 1970s. Payment-card companies also favor the shift away from cash, Aite says, because it generates more money for them in interest and fees. Some retailers like it because their cash-handling costs are lowered. The Nilson Report also found cash accounted for 35 percent of the 137 billion payment transactions in the United States in 2006, down from 44 percent of 117 billion transactions in 2001. Meanwhile, payment methods such as those involving credit, debit and prepaid cards rose to 42 percent of all transactions, up from 29 percent, during the same period.
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