Increasing adoption of NFC, QR codes and biometrics drives growth across cardless ATM market
The global cardless ATM market will have increased in value by US$2.11bn by 2026, an expansion driven by the growing adoption of NFC- and QR code-enabled smartphones and the emergence of biometric ATM technology.
The increased penetration of smartphones is driving market growth, especially in emerging countries, due to the rising sales of low-priced smartphones. These smartphones have several features of high-end smartphones, researchers explain.
Moreover, NFC chips enable smartphones to connect with other NFC-enabled devices in cardless ATMs for data transfer.
A smartphone can also read QR codes on the ATM screen. Such factors are expected to fuel the growth of the global cardless ATM market during the forecast period.
The increased penetration of smartphones is driving market growth, especially in emerging countries, due to the rising sales of low-priced smartphones. These smartphones have several features of high-end smartphones, researchers explain.
Moreover, NFC chips enable smartphones to connect with other NFC-enabled devices in cardless ATMs for data transfer.
A smartphone can also read QR codes on the ATM screen. Such factors are expected to fuel the growth of the global cardless ATM market during the forecast period.
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