While it is unlikely the ATM is the next Pay Phone, technology still has an important role to play in the future of automated teller machines. After all, this is the world of “me”.
ATM participation and marketing relationship delivers surcharge-free account access for ConnectOne Bank clients to nearly 8,000 7-Eleven®locations throughout the U.S.
There are currently over 400,000 ATMs in the United States (roughly 173 machines per 100,000 adults). Spanning banks, credit unions, and retail locations, it is unlikely for most in the US to have difficulty at least finding a nearby machine. While nowhere near the penetration reached by the public pay phone (2.6 million in the mid-90’s), the seemingly fickle loyalty of the average consumer begs the question – will your ATMs stay relevant?
Online resource offers unique, customizable graphics to help financial institutions promote surcharge-free access and convenience.
A majority (78%) of US workers live paycheck to paycheck, according to a 2017 CareerBuilder Survey. One in four workers do not contribute to savings most months. Higher salaries do not end money issues, either. Of workers making $100,000+, nine percent (9%) are living paycheck to paycheck. The percentage only rises as income decreases – with twenty-eight percent (28%) of those making $50,000-99,999 and fifty-one percent (51%) of those making under $50,000 also counting on the next payday.
Millennials aren’t the only “digitally-savvy” generation anymore. In fact, smartphone penetration in the United States is expected to reach 230 million people in 2018. To put that in perspective, the US Census Bureau reports 325.7 million in population as of 2017.
Despite a growing perception surrounding declining reliance and use of cash, recent studies show a much different picture.
My local grocery store has installed a second set of self-service stations. And, while there are some minor complaints from older regulars, the majority of shoppers with lower item counts are gravitating toward them. It’s not just grocery stores, either. From large retailers to fast food chains, the march toward self-service has been happening for over half a century.
Don’t believe me? When was the last time you paid someone to pump your fuel?
ATM participation and marketing relationship with FCTI delivers surcharge-free account access for Fifth Third Bank customers at nearly 8,000 7-Eleven stores.
Criminals want your information. Why? Because your identity equals money. Cyber baddies go out of their way to create duplicate websites and legitimate looking emails/offers in order to trick you into providing them with the information they need.