When we launched our India Cash Vibrancy Report in May’23, I was often asked a very pertinent question, let me try and explain it in this article. We launched the CMS Cash Index in 2016 to track the infusion of cash back into the economy across various commerce points. Since then, it has demonstrated the trend of cash usage among consumers across and its robust co-existence with digital payments in the country.
India is today the fourth largest retail market in the world, generating more than 10% of the country’s GDP. As retailers work towards maintaining their market presence in these intensely competitive times, working capital plays a key role in enabling valuation and transformation strategies.
The global ATM market is expected to reach US$34.8 Billion by 2030, growing at a CAGR of 5.7% from 2022-2030. As technologies evolve and continue to transform the way businesses and consumers access money and manage their finances, the future of banking is set to undergo a change
Until a few years ago, surveillance systems meant the use of closed-circuit television (CCTVs), that required eyeball monitoring. It also raised the need for personnel who monitored the camera feed continuously and identified any anomalies.
The ATMs of today have the potential to make the future of banking both ‘assisted and inclusive’. What started as a simple cash dispensing booth along with receipt features has metamorphosed into an internet-enabled contraption that can do much more, provided the right resources are invested.