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Rising ATM withdrawal volumes point to persistent demand for cash

New research from RBR forecasts that ATM withdrawal numbers worldwide will rise from a total of 92 billion in 2014 to 128 billion in 2020.

January 5, 2016

Global ATM cash withdrawal volumes grew 7 percent in 2014 with a total of 92 billion withdrawals made, according to "Global ATM Market and Forecasts to 2020," a new report from RBR.

The number of ATMs also grew, as the global installed base surpassed the three million mark, the London-based research firm said in a press release.

Growth in withdrawals was strongest in Asia-Pacific, the Middle East and Africa, with increases in ATM use far outstripping the pace of deployment in some developing markets, RBR said.

Annual withdrawal volumes rose by one-quarter in both Bangladesh and Vietnam, driven by the acceleration of card issuance to large, previously unbanked populations. However, increases in ATM deployments in these countries amounted to just 11 percent and 4 percent, respectively.

China stands out as the one market where the growth rate of ATM deployments in 2014 exceeded that of withdrawal volumes. Chinese banks added 95,000 ATMs for an 18 percent increase in the installed base. This compares with a considerably smaller rise in withdrawal volumes of 10 percent. However, RBR forecasts that growth in withdrawals will again claim the upper hand as ATM deployments in China inevitably slow.

Even among more mature markets, all regions except North America saw growth in the ATM withdrawal volumes, RBR said. The firm forecasts that the increase in ATM use will outpace growth in the installed base between 2015 and 2020, reaching 128 billion withdrawals annually.