ATM withdrawals worldwide up 10 pct in 2015

ATM withdrawals worldwide up 10 pct in 2015
According to RBR, ATM usage continued to increase even in mature markets. - Photo for illustration purpose.
KUALA LUMPUR: Automated teller machine (ATM) cash withdrawals worldwide rose by 10 per cent in 2015, the fastest rate since 2011, said strategic research and consulting firm, RBR.

In a statement today, RBR said, 99 billion cash withdrawals were made worldwide in 2015.

"Withdrawals rose in all regions with the most notable increases seen in Asia-Pacific and the Middle East and Africa (MEA), where volumes were up by 16 per cent and eight per cent, respectively," it said.

RBR said the growth in China's usage accelerated by 23 per cent as a result of rising financial inclusion and concerted efforts by banks to migrate more transactions to self-service.
"China accounted for a staggering 24 billion withdrawals, almost a quarter of the global total," it said.

It said there were also similar trend in other developing markets in Asia-Pacific and MEA countries, namely Egypt, India, Indonesia, Malaysia, Pakistan and Saudi Arabia.

RBR also said ATM usage continued to increase even in mature markets.

"For example, in the US, the rise in surcharges had contributed to a decline in withdrawal volumes over the years, but transactions levels actually grew.

"And in Spain, growth in the number withdrawals picked up to eight per cent as the country's economy recovers," it said.

Meanwhile, RBR's Rowan Berridge, who led the research, said despite rapid growth in cashless payments, demand for ATMs remained robust.

"We forecast cash withdrawal volumes will continue to increase in most countries for the foreseeable future," said Berridge.

RBR is recognised as the leading provider of strategic research and consulting services to organisations in the areas of banking and retail automation, cards and payments with three decades of experience. -- Bernama