Thursday, January 6, 2011

ATM Machine Market in Brazil 2008-2012

ATM Machine Market in Brazil 2008-2012

An Automated Teller Machine (ATM) is a computerized device that enables banks and its customers to carry out limited financial transactions at public locations; negating the requirement of a manual support. The ATM is generally connected to the operating bank via wired (dial-up modem or leased lines) or wireless network over the internet. The customers are identified through plastic cards (which have magnetic strip or chip that stores account information) and a PIN (personal identification number) that is used as a security feature. Once the identification is done, the ATM connects to banks for verification and financial transactions. On completion of the transaction, the ATM dispatches a transaction receipt that indicates the details of the completed transaction.
ATM facilitates customers to access their bank and credit card accounts to make cash withdrawals, cash advances (for credit cards), generate account statements, transfer money, and to make card less transfer of money. Further ATMs can be used to deposit cash, pay routine bills, print statements, process cheques, recharge mobile phones, etc.
ATMs are pervasive in all geographical regions further they have made their presence in continent like Antarctica too. At present, Brazil is third largest marketplace for new ATM installations. However, in Brazil, the ATM machine market is still on a growth stage. This is attributed to untouched areas which are prime expansion target of banks. Further, new legal requirements in ATM security features are fueling the growth of ATMs in the Brazilian market.
This report by TechNavio Insights will discuss the ATM machine market in Brazil with market forecasts and segmentations. Further trends, growth drivers, challenges and key vendors are analyzed which will decide the future of ATM machine markets.
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