U.S. Cardless ATM Market: Driving the Future of Cash Access

The U.S. cardless ATM market is expanding due to rising smartphone usage and increasing demand for secure, contactless banking solutions. Cardless ATMs enable cash withdrawals via mobile devices, reducing security risks and enhancing convenience. 

U.S. Cardless ATM Market Report Highlights

• The on-site type segment dominated the U.S. cardless ATM market in 2024 and accounted for the highest revenue share.
• The off-site type segment is expected to grow significantly during the forecast period.
• The near-field communication (NFC) technology segment dominated the U.S. cardless ATM market in 2024 and accounted for the largest revenue share.
• The quick response (QR) codes technology segment is anticipated to grow significantly during the forecast period.
• The banks and financial institutions end-user segment dominated the U.S. cardless ATM market with the highest revenue share in 2024.
• The independent ATM deployer end-user segment is expected to grow fastest during the forecast period.

The U.S. cardless ATM market refers to the production, distribution, and application of cardless ATMs are a technological innovation that provides quick and easy access to your accounts without a bank card. A cardless ATM lets you withdraw cash using your mobile or other smart device instead of a physical debit card. A cardless ATM also known as a contactless ATM allows us to access our bank account and withdraw money without a physical card. To use the cardless option at the ATM, we will typically need a financial institution mobile app or our card information stored in our mobile wallet. The benefits of cardless ATMs include minimized physical contact with ATM surfaces, accessibility anytime through banking apps or 24/7 availability, seamless integration with UPI apps, simplified cash withdrawal with a mobile device, faster transactions, no need to carry physical credit or debit card, reduces risk of card theft, skimming, and fraud, and enhanced security. Cardless ATM benefits also include fewer steps involved, access to all accounts, no need to carry a wallet, and a few features of cardless ATM withdrawals that make them more secure.

Increased use of smartphones driving the growth of the U.S. cardless ATM market. Increased use of smartphones as cardless ATM is convenient for travelers and individuals who prefer not to carry a debit card. Flexibility to withdraw cash up to transaction limits set by the bank. The ATM will display a QR code on the screen, which we will need to scan using our mobile device. If our bank requires us to have their app before using a cardless ATM we will need to request a withdrawal before heading to the ATM. We will be given a code, which we can enter at the ATM. Cardless cash withdrawals can be processed through instant money transfer (IMT) service from any Axis Bank ATM. Customers need to select IMT and provide some details such as registered mobile number IMT, sender’s code, SMS code, and the IMT amount. In this way, cardless ATM allows us to perform ATM transactions via our smartphone’s bank app.

Convenience and security offered by cardless ATMs driving the growth of the U.S. cardless ATM market. Convenience and security benefits of cardless ATMs include no physical cards being involved, which reduces the risk of theft or card cloning. These are easier-to-access funds without needing funds without needing to carry a debit or credit card. Cardless methods are may quicker as compared to traditional ATM withdrawals. Modern ATMs are implemented with high-security protection measures. They work under complex systems and networks to perform transactions. ATM offering is an offering of securities into an existing trading market for the securities at a price or prices related to the then market price of the securities. Cardless ATM offers unparalleled convenience, improved security, and a wealth of financial tools designed to enhance the banking experience.

Integration of artificial intelligence (AI) and machine learning (ML) in cardless ATM driving the growth of the U.S. cardless ATM market. Artificial intelligence (AI) can streamline ATM transactions by allowing faster processing times, voice-activated commands, and efficient cash management practices. This reduces waiting times and enhances overall customer satisfaction. Banks use artificial intelligence (AI) to enhance the ATM maintenance process, security, and customer experience. Banks can use AI to enhance customer experiences, and provide a more personalized touch to their services, streamline branch management, and bolster security. Machine learning (ML) based cardless ATMs have shown that fingerprint recognition technology and safer than other technologies as compared to other ATM security systems already in use.