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Data for today’s episode is provided by Mercator Advisory Group’s report – North American PaymentInsights, U.S. – ATMs: No Fee for Me.
Interest in New Types of ATM Transactions is Dictated by Income:
- Households earning <$50K are most interested in bill pay functionality from ATMs.
- Households earning $50-100K are interested in adding money to prepaid card products from ATMs.
- Households earning $50-100K are interested in executing person to person transfers from the ATM.
- Households earning $50-100K would like to receive coupons, discounts, and rewards from the ATM.
- Households earning >$100K are interested in purchasing tickets and fare cards from ATMs.
- Households earning >$100K are interested in purchasing prepaid cards from the ATM.
- The most popular ATM functionality among all incomes is to withdraw in specific denominations.
About Report
Mercator Advisory Group’s most recent consumer survey report, ATMs: No Fee for Me, from the 2019 Technology Survey of the bi-annual North American PaymentsInsights series, examines U.S. consumers’ current use of and perspective on ATMs.
The report, which is based on an online panel survey administered to 3,006 U.S. adults in November-December 2019, presents results from questions exploring how adults in the United States use ATMs for cash withdrawals, deposits, and other transaction types. It also presents data on their opinions about paying ATM fees and methods of authenticating users at the ATM.
