October, 2012 – Sioux Falls, SD, USA and London, UK– The ATM Industry Association (ATMIA), the only global non-profit association for the ATM industry, has
published a global cash compendium to provide comprehensive information on the rising international demand for cash.
“Cash is the global payment method of choice, accounting for at least 8 of every 10 payment transactions.,” explained Mike Lee, CEO of ATMIA. “It’s a highly competitive technology, and there is no evidence that cash substitution, from credit cards, online payments or mobile payments, has ever taken place. The world’s most successful mobile payment system, M-Pesa in Kenya, for example, has failed to halt the growth of cash in circulation in that country. The number of M-Pesa customers increased from 6.18 million in 2009 to 14.91 in 2012 but currency in circulation in Kenya rose from 89.94 billion (KShs -Kenyan shilling) in 2007 to 147.76 billion in 2011.”
The Cash Compendium follows ATMIA’s Cash Connects Us video on YouTube as part of a campaign to present the true picture of global cash demand.
“The YouTube video and the Compendium serve to dispel groundless myths about the coming of the cashless society,” added Lee.
The Compendium describes the key facts, benefits, global statistics and principles of cash, as well as some national figures of cash usage in both developed and developing countries. Please view it at the ATM Cash Council portal at https://www.atmia.com/atm-cash-council/atm-cashcouncil/.
For more information, please see contact Mike Lee at mike@atmia.com. If you wish to join ATMIA, contact Sharon Lane at sharon@atmia.com .
About ATMIA
www.atmia.com
The ATM Industry Association is a global non-profit trade association with over 3,500 members in 60 countries. Its mission is to promote ATM convenience, growth and usage worldwide, protect the ATM industry's assets, interests, good name and public trust; and provide education, best practices, political voice and networking opportunities for member organizations. In June 2003, ATMIA established the Global ATM Security Alliance (GASA) (www.globalasa.com) , since renamed the ATM Security Forum, with the mission to employ global security resources in a united alliance in order to protect the ATM industry from criminal activity.