Cardless ATM market is anticipated to grow at a CAGR of 11.3% during the forecast period (2024-2031). Cardless ATMs are frequently being installed in bank locations to provide convenience for cash withdrawals, deposits, and transfers. The market for cardless ATMs has grown significantly in recent years due to the growing use of biometric verification, QR codes, and NFC (Near Field Communication). A few banks offer the option of cardless cash withdrawals through their ATM services. Over the coming years, it is anticipated that the growth will continue as more individuals use mobile payments and look for easier, quicker ways to access their money.
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The increased penetration of smartphones is a key factor driving the growth of the cardless ATM market. With the widespread use of smartphones, consumers are increasingly looking for more convenient and secure ways to access their funds without the need for physical payment cards. Moreover, cardless ATM solutions leverage the security features of smartphones, such as biometric authentication, to provide added security and protection against fraud and cyber threats. This is particularly important given the increasing prevalence of cyber threats and the need for secure and reliable payment solutions. COVID-19 has accelerated the adoption of contactless payment solutions, including cardless ATMs, as consumers seek to minimize their physical interactions with payment devices. As a result, financial institutions and cardless ATM manufacturers have been investing in the development and deployment of cardless ATM solutions to meet the growing demand for contactless payment options.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Cardless ATM Market Report Segment
By Type
- On-site
- Off-site
By Technology
- Near-field Communication (NFC)
- Quick Response (QR) Codes
- Biometric Verification
By End User
- Bank and Financial Institutions
- Independent ATM Deployer
Global Cardless ATM Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cardless ATM market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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