PUBLISHER: The Business Research Company | PRODUCT CODE: 1822796
PUBLISHER: The Business Research Company | PRODUCT CODE: 1822796
Contactless and cardless Automated Teller Machines (ATMs) are advanced banking solutions designed to improve convenience, security, and hygiene during financial transactions. These ATMs enable users to conduct banking operations without physically inserting a card into the machine. Such technologies help reduce the risk of card theft or skimming while offering faster, safer, and more user-friendly banking experiences.
The primary components of contactless and cardless ATMs include hardware, software, and services. The hardware consists of machines equipped with built-in NFC, QR code scanners, or biometric systems that enable card-free transactions via mobile devices. These solutions can be deployed either on-premise or through cloud platforms and employ various technologies such as near field communication, Bluetooth, magnetic stripe, and QR code scanning. Key end users include retail customers, corporate clients, banking institutions, and financial service providers.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.
The contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market research report is one of a series of new reports from The Business Research Company that provides contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market statistics, including the contactless automated teller machine (ATM) and cardless automated teller machine (ATM) industry's global market size, regional shares, competitors with the contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market share, detailed contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market segments, market trends, and opportunities, and any further data you may need to thrive in the contactless automated teller machine (ATM) and cardless automated teller machine (ATM) industry. This contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market size has grown rapidly in recent years. It will grow from $2.64 billion in 2024 to $3.02 billion in 2025 at a compound annual growth rate (CAGR) of 14.3%. The growth during the historic period can be attributed to the rise in smartphone adoption, increased use of mobile banking apps, growing concerns over card fraud, consumer demand for faster transactions, expansion of NFC technology, and the shift toward cashless and digital payment ecosystems.
The contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market size is expected to see rapid growth in the next few years. It will grow to $5.09 billion in 2029 at a compound annual growth rate (CAGR) of 13.9%. The growth expected in the forecast period is driven by rising demand for touch-free banking solutions, increased adoption of mobile wallets, expansion of digital banking infrastructure, heightened concerns over card skimming and fraud, and supportive government initiatives promoting cashless economies. Key trends in the forecast period include integration of biometric authentication, wider adoption of NFC and QR code technologies, improved mobile app compatibility, AI-driven fraud detection, cloud-based transaction processing, and implementation of multi-language and voice-assisted user interfaces.
The growing demand for contactless transactions is anticipated to drive the expansion of the contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market moving forward. Contactless transactions involve payments made by simply tapping a card or device near a compatible terminal, removing the need for physical contact or PIN entry. The increase in demand for contactless transactions is due to their ability to provide a faster checkout experience, reduce physical contact at payment points, and meet rising consumer expectations for seamless digital payments. Contactless ATMs and cardless ATMs facilitate secure and hygienic contactless transactions by allowing users to withdraw cash or carry out banking operations using smartphones, QR codes, or contactless cards without inserting a physical card. For example, in September 2023, UK Finance, a UK-based financial services trade association, reported that contactless payments using debit and credit cards reached 17 billion in 2022, a 30% rise from 13.1 billion transactions in 2021. Additionally, the average value of contactless payments increased to approximately $19.10 (£15.10) in 2022 from about $16.00 (£12.66) the previous year. Therefore, the rising preference for contactless transactions is fueling growth in the contactless and cardless ATM market.
Key players in the contactless and cardless ATM market are focusing on developing advanced technological solutions such as contactless ATM access to improve user convenience, shorten transaction times, and boost security. Contactless ATM access allows users to perform ATM transactions by tapping a contactless-enabled card or device on the ATM, eliminating the need to insert a physical card. For instance, in November 2023, Co-op Solutions, a US financial services company, introduced contactless ATM access for all NCR Atleos ATMs, with plans to extend the feature to Diebold Nixdorf and Hyosung Innovue machines by 2024. This innovation enables credit union members to tap their debit cards for quicker transactions, averaging just 15 seconds-over 50% faster than using magnetic stripe cards. The system does not require API integration for credit unions or vendors. Co-op emphasizes the speed, security, and modern user experience as key benefits, enhancing customer satisfaction and strengthening credit unions' roles in members' daily financial activities.
In November 2024, Travelex International Limited, a UK foreign exchange company, collaborated with NCR Atleos to revamp its ATM network. This partnership aims to modernize Travelex's ATM infrastructure across multiple countries with advanced hardware and software, offering secure and convenient self-service currency access, including features such as contactless withdrawals, and improving reliability for travelers at key locations. This initiative is designed to elevate customer experience and operational efficiency. NCR Atleos, a US-based ATM service provider, specializes in ATM technology and related services, including contactless ATM solutions.
Major players in the contactless automated teller machine (atm) and cardless automated teller machine (atm) market are Banco Santander S.A., Wells Fargo & Company, Hitachi Ltd., HSBC Holdings plc, Barclays PLC, Fujitsu Limited, Fiserv Inc., Samsung SDS Co. Ltd., Fidelity National Information Services Inc. (FIS), NCR Corporation, Conduent Incorporated, Diebold Nixdorf Incorporated, Euronet Worldwide Inc., OKI Electric Industry Co. Ltd., ACI Worldwide Inc., GRG Banking Equipment Co. Ltd., NoteMachine Limited, KEBA AG, Nautilus Hyosung Inc., Hyosung TNS Inc.
North America was the largest region in the contactless automated teller machine (ATM) and cardless automated teller machine (ATM) market in 2024. The regions covered in automated teller machine (ATM) and cardless automated teller machine (ATM) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the automated teller machine (ATM) and cardless automated teller machine (ATM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automated teller machine (ATM) and cardless automated teller machine (ATM) market consists of revenues earned by entities by providing services such as cash withdrawal, balance inquiry, fund transfers, and QR code transactions. The market value includes the value of related goods sold by the service provider or included within the service offering. The contactless ATM and cardless automated teller machine market also includes sales of products including near field communication-enabled ATM terminals, biometric authentication devices, and QR code scanners. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Contactless Automated Teller Machine (ATM) And Cardless Automated Teller Machine (ATM) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on contactless automated teller machine (atm) and cardless automated teller machine (atm) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for contactless automated teller machine (atm) and cardless automated teller machine (atm) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The contactless automated teller machine (atm) and cardless automated teller machine (atm) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.