What is White Label ATM Market?
White Label ATMs are set up, own and operate by the non-bank entities called "White Label ATM Operators" (WLAO). The role of WLAs is that it provides banking services to the customers of banks, based on the cards issued by banks by establishing technical connectivity with the existing authorized, shared ATM Network Operators / Card Payment Network Operators. The white label ATM market is expected to surge at a prime rate during the forecast period. White label ATMs are projected to serve as an essential medium of banking for consumers around the globe. Customers can access banking facilities situated close to their place of work. The objective of authorizing non-banks to operate White Label ATMs is to enhance the spread of ATMs in rural and semi-urban areas.
The market study is being classified by Type (Through-the-Wall ATM, Front Load ATM, Desktop ATM and Others), by Application (Cash Withdrawal, PIN Change, Mini/Short Statement Generation and Others (Value Added Services, Account Information)) and major geographies with country level break-up.
Diebold Nicdorf, Incorporated (United States), Euronet Worldwide, Inc. (United States), Triton Systems (United States), Fujitsu Limited (Japan), GRG Banking Equipment Co. Ltd. (China), HESS Cash Systems GmbH & Co. (United States), Hitachi Payment Services Pvt. Ltd. (Japan), Nautilus Hyosung (South Korea), NCR Corporation (United States) and Guangzhou KingTeller Technology Co., Ltd. (China) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Vortex Engineering Pvt Ltd. (India) and Oki India Pvt. Ltd. (India).
The market players present in the White Label ATM market are mainly focusing on product enhancements by implementing advanced technologies. By signing partnership contracts, collaborations, and inaugurating new offices across the world permit the company to maintain its brand name globally. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global White Label ATM market throughout the predicted period.
Analyst at AMA have segmented the market study of Global White Label ATM market by Type, Application and Region.
On the basis of geography, the market of White Label ATM has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand for ATM Services from Rural and Semi-urban Areas
- Reduction in Per Transaction Cost and Maintenance of ATM by Commercialized Banks
- Value-Added Services Like Mobile Recharge, Utility Bill Payments, etc.
- Introduction of Solar ATM's
- Introduction of Biometric ATM's
- Government Rules and Regulations for Cash Management
- Digitization in developing Countries such as online and mobile banking
- Increase in the Geographical Spread of ATMs and Enhanced Customer Service
- Improvement in Security Mechanisms, such as Biometrics, Fingerprints, etc.
- Difficult for Customers to Trust WLAs
- Failed Transaction Issues
In November 2020, Hitachi Payments has announced an expansion spree, to nearly double white label ATMs by March by March to 5,000 units, having already installed new 1,340 machines by October this year.
In India, are authorized under the Payment & Settlement Systems Act, 2007, by the RBI.
Key Target Audience
White Label ATM Manufacturers, WLAs Service Providers, Stakeholders/ Sponsors, Government Organizations, Industrial Bodies and Associations and Others
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