Analysts at Ken Research in their latest publication, “India ATM Cash Management Market Forecast to 2023 – by ATM Replenishment, Cash in Transit, Cash Pickup and Delivery and Vaulting Services, Bullion Management, and Cash Processing” believe that promoting better regulations, setting up ATMs in rural areas and focusing towards timely ATM replenishment will aid the India ATM Cash Management Services Market. India ATM Cash Management Services market is expected to register positive CAGR of around 6.8% during the period FY’2018-FY’2023 in terms of revenue.
Increase in retail customer base in terms of jewelers, gold loan companies; retail stores along with hospital chains will drive the demand of cash management companies as these all customer’s deals in large volume of cash transfers.
Growth in debit cards and increasing direct benefit transfers will lead to surge in cash withdrawal and a higher demand for ATMs in future, which will imply banks to outsource more number of ATMs to cash management companies.
Rising number of transactions performed in an ATM will shoot up in future with the introduction of machines such as bunch note acceptor and cash recyclers in the market. As, these machines allows various other features other than cash withdrawal such as cash deposit, updating passbook, user KYC and others will augment the growth of India ATM Cash Management Service market.
Cash management services also provide other services such as vaulting services, bullion management, and cash processing which will further aid the demand for ATM cash management service providers as there is an increase in demand of these services.
ATM recycling machines installations will grow in future and banks would be outsourcing these machines as well. Interoperability will be a game changer. This will lead to double the transactions with lower CRA cost.
Increasing use of digital payment apps in future will decline the non financial transactions as it will allow people to check their account balance and keep a track record of their past transactions. However, total number of transaction in an ATM will increase in future as majority of the people still depends on cash transaction as compared to making digital payments. Cash will continue to remain King in terms of payments, shopping and other transactions in future as well.
Keywords:-
Number of ATM Transactions India
Cash Reconciliation Market
Bullion Management Market India
Cash Circulation Trend India
Importance of Cash India
Impact of Demonetization India
ATM Security Market India
India Cash Management Services
India Cash Management Services Market Value
India Cash Management System
India Cash Management Services Market Revenue
Cash Management Services in India
India Cash Management Services Market Competition
India Cash Management Services Market Size
Products Covered:-
ATM Replenishment
Cash-in-Transit (CIT)
CPD (Cash Pickup and Delivery) /RCM (Retail Cash Management)
Vaulting Services, Bullion Management, and Cash Processing
Companies Covered:-
CMS Info System, SIS Prosegur, Brink’s Arya, Writer Safeguard, Securevalue, Logicash and Radiant Cash
For more information about the publication, refer to below link:-
https://www.kenresearch.com/banking-financial-services-and-insurance/banking/india-atm-cash-management-market-forecast-2023-/154994-93.html
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