SIOUX FALLS, S.D. (6/19/13)--Mobile/contactless payments was identified as the area with the most expected future growth by respondents to the 2013 global ATM Innovation Industry Survey.
About 55% of respondents cited mobile payments as the top area of growth in the ATM Industry Association survey.
"There seems to be no indication of a lack of satisfaction with basic ATM operation and function," the white paper accompanying the survey said. "However, there is definitely an awareness of the need to modernize the connection to mobile devices."
Bill payments, ATM advertising, person-to-person payments, and prepaid cards were all selected by more than 25% of the respondents as other areas of future growth.
Deposit automation was ranked as the top non-core function by respondents, with about 48% of respondents saying it was the No. 1 innovation. Bill payments came in a distant second with 15% listing it as the top innovation.
More than 50% of respondents said that rules and mandates by the primary global card brands are the biggest obstacle to innovation in the ATM industry. "This consensus may continue to rise in the U.S., given current debates about Europay, Mastercard, VISA liability shift and routing choice issues in that country," the white paper said.
Respondents say the area most in need of improvement/modernization is security surrounding the ATM, with 43% selecting that area.