These are the findings of a new study carried out by Retail Banking Research (RBR) which also indicates that in 2009, the Chinese market has become the world’s second largest ATM market, behind the US, overtaking Japan. The latter two countries have been the two largest ATM markets since 1972.
The record growth is attributable to the transformation of the bank branch from a transaction point to a service outlet, accelerating the migration of basic transactions to self-service. In addition, China’s “Big Four” state-owned banks have played a significant role in driving such a growth.
The report also indicates that ATM Outsourcing Service Providers (AOSPs) is another sector of the Chinese ATM market which has gained in significance. ATM deployment and operation in the country are subject to strict governmental regulation in China and non-banks can deploy terminals only with a bank`s involvement. This has led to the development of a “co-operative deployment model” whereby banks outsource ATM deployment to AOSPs and also pay them a service fee and a share of transaction fee income.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now