TechNavio today launched its report ATM Market in Brazil 2011-2015 based on an in-depth study focusing exclusively on Brazil. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Hardware team said; ”Automated teller machine (ATM) vendors in Brazil are observing attraction for cashless ATMs in this market. The key reasons for the growing interest toward cashless ATMs are the minimized risk of cash mishandling and the security and confidence that customers gain through these devices. Moreover, cashless ATMs benefit both merchants as well as customers. Merchants need not pay any transaction fees, so the cost for the cash received through cashless ATMs is zero for merchants. Further, from banks’ or retail outlets’ point of view, the maintenance cost of cashless ATMs is less than that of traditional ATMs.”
According to the report, the upcoming international events in Brazil are driving the demand for advanced and highly secure ATM networks in the country. Currently, banking institutions are investing heavily in ATMs with global standards, to match the high standards of the secured communication networks of developed countries. The main reason for this is that unless Brazil’s ATMs are capable of complying with the high standards of other ATMs, the purpose of establishing a highly secured network would be defeated. As a result, ATM vendors to the Brazilian banks are focusing on developing ATMs with highly secure identity recognizers based on technologies such as biometric identification sensors.
Further, the report also discusses that the challenges have emerged mainly from advancements in technology and loopholes allowing hackers to take undue advantage of that technology to loot money from ATMs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/atm-market-brazil-2011-2015
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TechNavio Announces the Publication of its Report – ATM Market in Brazil 2011-2015
