Boston, MA — ATMs have been with us over four decades, and while their usage has grown, providing new functionality has proven challenging, Mercator Advisory Group's 2011 CustomerMonitor Survey Series finds.
Consumers and ATMs: New Opportunities for the Old Channel, the sixth in a series of eight consumer survey reports examining payment and banking topics, probes the changing face of the ATM and consumers' willingness to try new capabilities.
The report is based Mercator's CustomerMonitor Survey Series.The foundation of the series is data obtained during a national sample of 1,003 online consumer survey responses completed between October 9 and October 13, 2011. Among the topics covered by the survey are types of ATMs and ATM-based services used, use of the
debit card cash-back feature at the point of sale in stores, and attitudes toward ATM fees.
Findings of the research include:
The reasons many consumers remain reluctant to make deposits in ATMs
The likelihood of those making ATM deposits to consider making other, new types of transactions
The consumer segment experiencing some of the highest ATM usage
Additional popular services for frequent ATM users
“ATMs can be equipped to provide a wide range of transactions and functions to consumers, yet some consumers are still challenged to make deposits,” states Ken Paterson, VP for Research Operations at Mercator Advisory Group and the author of the report. “While technologically advanced consumers show interest in ATMs' extended capabilities, financial institutions will have to actively market these new capabilities and educate their customers before the full range of functionality can be appreciated.”