While customers tend to favor mobile payments and credit cards for larger purchases, the verdict is in, cash proves it is here to stay. Cash has a multitude of benefits, and the majority of transactions under $10 are still completed with cash.
Many Independent ATM Deployers (IADs) and Independent Sales Organizations (ISOs) have reportedly felt the turmoil and uncertainty that has accompanied the multitude of recent processor mergers and buyouts. Undoubtedly, these shifts have left many IADs and ISOs scrambling to find needed support. From simple transaction issues to new online systems, the changes can be overwhelming.
ATM technology is advancing to accommodate changing consumer demands. Compared with other tech-centric industries, recent technological advances in banking have either remained stagnant or lagged significantly. However, new technological advancements may see digital progress quickly approaching for financial institutions, particularly when it comes to ATMs.