News

Survey says: Kiosk-ATM convergence has potential

August 20, 2002

LONDON -- Americans are interested in greater functionality at their ATM machines, including the capacity to perform retail tasks, according to research done by London-based financial services research firm Datamonitor.

A recent brief from Datamonitor, "Off-site and Enhanced Functionality ATMs," argues that Web enhancement of ATMs will create greater potential for kiosk-ATM convergence by broadening the services available through ATMs. The advanced functionality will be fueled by consumer desires for such services, the brief continues.

The brief studied ATM and kiosk-ATM convergence issues in the U.S., UK, Australia, Canada, Russia, and Spain.

Between 50 percent and 60 percent of Americans surveyed for the brief said they would be interested in purchasing postage stamps and obtaining vehicle registration permits at their ATMs, while nearly half expressed interest in buying movie tickets at the ATM.

"Web-enablement of ATMs will change the way that ATMs fit into the financial and non-financial services marketing and distribution mix," the brief states.

The brief was released in mid-July, shortly before NCR Corp. (NYSE:NCR) and convenience store chain 7-Eleven (NYSE:SE) announced they would deploy their Vcom program of enhanced functionality ATMs to more than 1,000 7-Eleven stores nationwide over the next seven months (See story: Vcom = more units, more functionality). The Vcom offers check-cashing, money orders, wire transfers, and other services along with standard ATM functions.