With new trends such as the rising expense of surcharge rebate programs and a desire to get out from underneath the overhead expense of managing off-premise ATM fleets, very large financial institutions are embracing surcharge-free as a lower-cost option.
Boston, MA (PRWEB) February 14, 2017
While other countries look to discourage reliance on cash, consumers in the U.S. continue to include cash in their day-to-day payment transaction mix. The use of cash permeates across generations, suggesting that although cash use has seen a small decline in use, it will still play an important role for many years to come.
Mercator Advisory Group’s latest report, New Trends Underscore Role of Surcharge-Free ATMs, provides an understanding of cash usage in the U.S., the reasons that financial institutions of all sizes are latching onto surcharge free networks, and a discussion of the small group of market providers for these services.
“Smaller institutions, online-only banks, and alternative financial product providers have been the traditional buyers of surcharge-free ATM networks to offer cash access points that could rival big financial institutions. Now, with new trends such as the rising expense of surcharge rebate programs and a desire to get out from underneath the overhead expense of managing off-premise ATM fleets, very large financial institutions are embracing surcharge-free as a lower-cost option, comments Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group, the author of the report.
Highlights of the report include:
- Trends in cash usage in the U.S.
- Channels U.S. consumers use to get cash.
- The influence of convenient cash access has on the choice of a financial institution
- Recent trends that are influencing the use of surcharge-free strategies by larger banks and credit unions
This report is 14 pages long and has 6 exhibits.
Companies mentioned in this report include: Allpoint, Citibank, CO-OP, Costco, CU 24, CVS, Fifth Third Bank, First Tennessee, Fiserv, Green Dot, Kroger, Mastercard, Safeway, Star sf, Target, Visa, Walmart.
Members of Mercator Advisory Group’s Debit Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.