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North America Multivendor Atm Software Market Forecast 2019-2028

The North America multivendor ATM software market is evaluated to reach a CAGR of 14.92% over the forecast period, 2019-2028. The platform enables financial institutions in streamlining their current operations and integrating additional features and advanced functionality, providing numerous growth opportunities for the market in the region.

In order to evaluate the growth of the North America multivendor ATM software market, the region is divided into the United States and Canada. Canada has a large number of ATMs, though have a low population density. There are about 223 ATMs for every 100,000 adults. The prominent companies are interested in entering the Canadian market as there are opportunities for the deployment of new ATMs. The trend of using digital currency is increasing among Canadian people, and encouraging the growth of Bitcoin ATMs, which transfers the traditional currency into digital currency. The private ATMs owned by non-bank entities under the White label ATMs are more subjected to money laundering issues. This issue leads to the loss of tax revenues, which are greater than the amount of money laundered. The government of Canada decided to eliminate the ATMs, which feature magnetic stripe cards since December 2012 due to the increasing frauds by information leakage. Most of the debit and credit cards contain a chip and magnetic stripes, which is creating the need to upgrade old ATMs that accept only magnetic stripe cards. The 38,000 White label ATMs form a major portion of the Canadian ATM market. Global players like Bitcoins and Allpoint are building their network of ATMs due to the acceptance of digital currency, technologically advance people, and friendly regulations.

Some of the renowned companies operating in the market are NCR Corporation, Auriga SPA, Diebold Nixdorf Inc, KAL, Nautilus Hyosung America, Inc, etc.

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North America Multivendor Atm Software Market Forecast 2019-2028
Published By :Inkwood Research
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