China Overtakes the USA as the World’s Largest ATM Market

Chinese Financial News, an authoritative media of financial industry in China, released the report of Chinese ATM Market Overview 2013.

According to the report, China has surpassed US to be the world’s largest ATM market, with ATM density above worldwide average level for the first time. In 2013, China’s largest ATM manufacturer GRGBanking takes up 23.28% of the Chinese market share with sales volume of 19,940 units, ranking No.1 for the 6th consecutive year.

According to the report from the People’s Bank of China, by the end of 2013, the installation base of ATM in China reached 520,000 units, with a robust year-on-year growth of 25.12%. Currently ATM per million population in China reaches 382, for the first time exceeds the global average number (346 units).

Chinese Financial News also points out that in 2013 the self-service banking equipment are more market-oriented, customized and focusing on user experience. Undoubtedly one of the most representative examples is the upsurge of remote intelligent banking, or called VTM (Video Teller Machine). As “one of the important achievements of China’s banking technology innovation”, the kind of machine integrates video interaction, ID identification, account opening, card dispensing, electronic signature and other functions, with 24/7 comprehensive banking services capabilities.

Currently, nearly 300 units of VTM have been deployed nationwide, of which GRGBanking occupies over 50% market share.

Source: http://www.banksdaily.com/news/banks/China-Overtakes-the-USA-ATM-Market