US ATM users crave cardless cash access, M2M transfers

Cardless cash solutions for ATM withdrawals hold appeal for more than one-third of U.S. consumers (37 percent) and more than half of millennials, according to the Fiserv Inc. quarterly survey, Expectations & Experiences: Household Finances.

However, only 7 percent currently use cardless cash access. Of those not currently using the service, the survey found that:

  • Slightly less than one-quarter (22 percent) would use such a service only in an emergency (e.g., a forgotten wallet).
  • Sixteen percent think it would keep others from accessing their PIN.
  • Six percent would use cardless ATM access in order to avoid carrying their debit card.

The survey also found that more than one-third (35 percent) of consumers would be interested in being able to transfer funds from one ATM to another, and 62 percent of millennials reported interest in this option.

Chip cards

Less than three years into the wide availability of EMV cards, inserting a chip card is now the preferred way to pay (36 percent), topping other forms of payments such as swiping a card (30 percent), cash (17 percent), and check (8 percent).

Relative to the previous year's survey, chip cards made significant strides:

  • As a preferred method of payment, up 9 percentage points at 36 percent.
  • In consumers' perception of convenience, up 12 points at 32 percent.
  • As the perceived fastest payment method, up 9 points at 24 percent.

Transaction alerts

Nearly two-thirds of consumers with a credit or debit card now receive transaction alerts. Among survey respondents, the most frequently cited reasons for opting in to alerts were:

  • A sense of security, 67 percent.
  • A previous fraud experience, 43 percent.
  • A convenient way to manage transactions, 33 percent.

Among all consumers who receive alerts, 42 percent reported having detected fraud via alerts.

Account aggregation

Approximately one-third (34 percent) of consumers and 48 percent of millennials said the ability to manage all of their financial accounts using a single online location or mobile app was of interest. However, only 8 percent of consumers reported that they currently are using such a service.


The survey was conducted online within the United States by The Harris Poll, August 22–Sept. 7. A total of 3,081 interviews were conducted among U.S. adults ages 18 and older who: lived in a household in which at least one member currently has a checking account; and have used their checking account to pay a bill or make a purchase in the past 30 days.


Topics: ATM Innovation, Bank / Credit Union, Debit / Credit, EMV, Security, Trends / Statistics

Companies: Fiserv


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