The outsourcing of ATM services achieved highest growth during the period 2009-2011, where banks realized the advantages attached to the same and started outsourcing their ATMs at a rapid pace. From 2012 onwards, the revenue growth of the market has been continuously picking up. Considering factors such as increasing debit card base in the wake of the Jan Dhan Yojana, expansion of the ATM network in the country and the transition of ATMs managed by banks to outsourcing of ATMs will provide a boost to the revenue of the market
The Pradhan Mantri Jan-Dhan Yojana (PMJDY) is the National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/Savings and Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Accounts opened under the scheme will be issued a debit card that can be used in withdrawing money from the account through ATMs. Since increasing number of cards and eventual rise in number of transactions is directly correlated to the revenue of service providers, the PMJDY will boost the market size of the ATM managed services and outsourcing market in India.
“Due to the increasing number of ATMs in India and the growing usage of cards at ATMs, the revenue generated by service providers will increase robustly in the future.”– according to the research report ‘India ATM Managed Services and Outsourcing Market Outlook to 2019 - Spurred by Expansion of the ATM Network’ by Ken Research.
The report provides detailed overview of the ATM Managed Services and Outsourcing Market in India and helps readers in identifying the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, ATM service providers, banks, government decision makers, private equity, venture capitalist, ATM manufacturers and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.