US Cardless ATM Market Research Report: By Type (On-site ATM, Off-site ATM, Others), By Technology (Near-field Communication (NFC), Quick Response (QR) Codes, Biometric Verification) and By End User (Bank and Financial Institutions, Independent ATM Deployer) - Forecast to 2035

US Cardless ATM Market Overview:

As per MRFR analysis, the US Cardless ATM Market Size was estimated at 623.4 (USD Million) in 2023. The US Cardless ATM Market Industry is expected to grow from 700(USD Million) in 2024 to 2,400 (USD Million) by 2035. The US Cardless ATM Market CAGR (growth rate) is expected to be around 11.853% during the forecast period (2025 - 2035).

Key US Cardless ATM Market Trends Highlighted

The US Cardless ATM Market is experiencing significant growth driven by the increasing demand for convenience and security in financial transactions. As more consumers adopt mobile banking solutions, including digital wallets and banking apps, the need for cardless ATM access becomes crucial. This shift aligns with the heightened focus on contactless transactions due to health concerns stemming from the COVID-19 pandemic. The evolving technology landscape, with advancements in QR code payments and near-field communication (NFC), creates opportunities for banks and financial institutions to enhance user experience while reducing dependency on traditional payment methods.Moreover, the rising trend of financial inclusion is a key market driver, as cardless ATMs provide broader access to cash withdrawals for unbanked and underbanked populations in the US. These individuals can benefit from user-friendly interfaces that do not require a physical bank card, thus simplifying the transaction process. Opportunities lie not only in expanding cardless ATM networks but also in leveraging partnerships with fintech firms to innovate and improve the overall ATM service landscape. In recent times, there has been a notable increase in the number of financial institutions rolling out cardless ATM options across the United States.Major banks are implementing these services as a response to customer preferences, leading to a gradual but steady adoption trajectory. Security measures are also evolving, with biometric verification systems gaining popularity, ensuring that even as convenience is prioritized, safety standards remain robust. This combination of drivers and innovations positions the US Cardless ATM Market for continued evolution and responsiveness to consumer needs and technological shifts in the coming years.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

US Cardless ATM Market Drivers

Growing Demand for Contactless Transactions

The US Cardless ATM Market Industry is witnessing a significant surge in demand for contactless transactions spurred by the increasing consumer preference for safety and convenience. In light of the COVID-19 pandemic, the trend towards digital and contactless payment solutions has accelerated, with approximately 60% of consumers reporting a preference for contactless methods according to a survey conducted by the American Bankers Association. As a result, financial institutions like JPMorgan Chase and Bank of America are actively expanding their cardless ATM networks to cater to this evolving consumer behavior, highlighting their commitment to driving innovation in banking.The Federal Reserve's report on payments shows a 30% increase in contactless payment usage in the last two years, reinforcing the notion that the US Cardless ATM Market is poised for growth to meet the rising expectations of a health-conscious population.

Technological Advancements in Banking Solutions

Technological innovation plays a crucial role in the expansion of the US Cardless ATM Market Industry. With advancements in mobile banking and secure authentication methods, consumers are now able to perform transactions without needing a physical card. As per the National Automated Clearing House Association (NACHA), over 80% of consumers have access to mobile banking, which has led to increased efficiencies in cash withdrawals from ATMs. Banks such as Wells Fargo and Citibank are investing heavily in Research and Development to enhance user experience at their ATMs, setting a competitive standard that encourages wider adoption of cardless technology.This technological shift is essential in ensuring that financial services remain relevant in an increasingly digital economy.

Increased Security Features and Concerns

Security remains a significant concern in the banking sector, and advancements in cardless ATM technology are addressing these issues head-on. The US Cardless ATM Market Industry is benefitting from improvements in biometric verification and end-to-end encryption, which bolster customer confidence when using cardless ATMs. According to a report from the Federal Bureau of Investigation, ATM-related fraud cases have decreased by 23% in the past three years as banks adopt stronger security measures, including those utilized in cardless systems.Institutions like Capital One are emphasizing the importance of security in their operations, ensuring that customers feel safe when choosing cardless options. As security technologies evolve, they foster an environment conducive to the growth of the US Cardless ATM Market.

US Cardless ATM Market Segment Insights:

Cardless ATM Market Type Insights

 

The US Cardless ATM Market is experiencing significant growth, attributed primarily to the rising demand for convenience and enhanced customer experiences. The segmentation of this market is defined by Type, encompassing On-site ATM, Off-site ATM, and Other categories, each contributing uniquely to market dynamics. On-site ATMs, typically located within bank branches or retail locations, play a vital role in facilitating direct banking services, making them essential for daily transactions and thus, attracting consumers who prefer instant access to cash without cards.Meanwhile, Off-site ATMs are strategically positioned in public areas such as shopping malls, convenience stores, and gas stations, catering to customers who value accessibility and wider distribution of banking services. These ATMs have become increasingly important in urban settings, where foot traffic is high, contributing to their popularity among financial institutions and consumers alike. The Other category includes innovative solutions like mobile ATMs or ATMs integrated with stores, which also represent emerging opportunities as technology advances and payment solutions evolve.The growth of the US Cardless ATM Market is also driven by changing consumer preferences towards tech-savvy and cashless transactions, with the capability of withdrawing cash without physically having a card being a compelling feature for users. The emergence of digital financial solutions and payment applications further underscores the relevance of cardless transactions. However, with such growth comes challenges such as security concerns and the need for constant technological updates to ensure user safety. The evolving landscape of the US Cardless ATM Market highlights the critical need for stakeholders to adapt and innovate to meet consumer demands, thereby unlocking new opportunities while addressing these challenges.The market's segmentation underscores the diverse preferences of users and the importance of each Type in catering to these varied needs, thus shaping the direction of market growth in the foreseeable future.

 

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Cardless ATM Market Technology Insights

 

The Technology segment of the US Cardless ATM Market is witnessing significant transformation driven by innovations such as Near-field Communication (NFC), Quick Response (QR) Codes, and Biometric Verification. NFC technology is gaining traction for its ability to facilitate quick and secure transactions, allowing users to access ATMs using their mobile devices with ease. It enhances customer convenience and reduces transaction time, making it a preferred method in urban areas. Quick Response Codes are also playing a crucial role, enabling customers to initiate transactions through scanning without the need for physical cards, thereby promoting contactless interactions which gained momentum during the pandemic.Furthermore, Biometric Verification is elevating security standards by using unique identifiers like fingerprints or facial recognition, addressing concerns over card theft and fraud. As consumer behavior shifts towards more contactless and secure options, the demand for these technologies within the US Cardless ATM Market is set to grow, driven by the need for enhanced user experiences and secure transactions. Advanced technology adaptation is becoming essential not only for improving customer satisfaction but also for staying competitive in the rapidly evolving financial services landscape.

Cardless ATM Market End User Insights

 

The US Cardless ATM Market possesses a diverse End User profile, highlighting the significance of Bank and Financial Institutions alongside Independent ATM Deployers. Bank and Financial Institutions represent a major segment, driving the adoption of cardless transactions due to the demand for enhanced customer convenience and operational efficiency. As consumers increasingly seek frictionless banking experiences, these institutions leverage advanced technologies to integrate cardless ATM solutions. Independent ATM Deployers also play a crucial role, serving specialized markets and extending access to cash in underserved areas, thereby meeting growing customer needs.These entities are often more agile and can quickly adapt to evolving technological trends and consumer preferences, thereby enhancing the overall market growth. The combination of these sectors facilitates a dynamic landscape where user experience is paramount, contributing to the overall expansion and innovation in the US Cardless ATM Market. This growth is further supported by increasing smartphone penetration and mobile banking adoption, showcasing how technological advancements influence banking operations and consumer behaviors within these critical segments.

US Cardless ATM Market Key Players and Competitive Insights:

The US Cardless ATM Market is witnessing significant evolution as technological advancements continue to reshape the way consumers access cash. With the rise of mobile banking and digital wallets, cardless transactions are becoming a preferred method for many users seeking convenience and speed. As a result, various financial institutions and service providers are entering the market, leveraging innovative solutions to enhance customer experience and streamline services. The competitive landscape is characterized by partnerships and collaborations among banks, fintech companies, and service providers, all aiming to capture a larger share of the growing market. The emphasis on security, ease of use, and customer-centric services is driving competition, as companies strive to differentiate themselves and meet the rising expectations of modern consumers.Starbucks has established a strong position within the US Cardless ATM Market by integrating cardless payment options seamlessly into its services. Leveraging its extensive network of stores and loyal customer base, the company introduces convenient solutions that allow patrons to easily access cash while enjoying their favorite beverages. The company has effectively utilized mobile technology to enhance customer engagement, making transactions quicker and more efficient for users. By allowing customers to access cash without the need for a physical card, Starbucks has not only improved convenience but also contributed to a more streamlined consumer experience within its locations. This synergy between coffee and cash access strengthens Starbucks' overall value proposition, helping it solidify its market presence.Wells Fargo, a prominent player in the US Cardless ATM Market, offers a range of innovative services aimed at simplifying cash withdrawal processes for its customers. The bank has successfully implemented cardless ATM solutions which allow users to withdraw cash simply using their mobile devices. This advancement highlights Wells Fargo’s focus on enhancing digital banking capabilities, catering to the growing demand for efficiency among its clients. The company continues to expand its footprint in the cardless segment, setting itself apart through robust security features and user-friendly interfaces. Additionally, ongoing investments in technology and digital services, alongside strategic mergers and acquisitions, have strengthened Wells Fargo’s market presence, enhancing its ability to deliver exceptional service and fashion a competitive edge in the rapidly evolving landscape of cash access solutions.

Key Companies in the US Cardless ATM Market Include:

Starbucks

Wells Fargo

Syndera

JPMorgan Chase

Diebold Nixdorf

Citibank

PNC Financial Services

Walmart

American Express

Vantage West Credit Union

U.S. Bank

Bank of America

Cardtronics

FIS

NCR Corporation

US Cardless ATM Market Industry Developments

Recent developments in the US Cardless ATM Market have highlighted an increasing shift towards cashless transactions and enhanced consumer convenience. Companies such as JPMorgan Chase and Wells Fargo have expanded their cardless ATM capabilities allowing customers to withdraw cash through smartphone authentication, which aligns with growing consumer preferences for contactless banking solutions. In October 2023, Diebold Nixdorf announced advancements in their cardless ATM technology, further enhancing security and user experience. Additionally, Citibank and American Express have partnered to integrate their services, boosting cardless options for consumers. A notable acquisition occurred in August 2023 when Cardtronics was acquired by NCR Corporation, enhancing NCR's positioning in the cardless market. Moreover, PNC Financial Services has reported a significant growth in its mobile banking user base, stimulating more transactions through cardless ATMs. The overall market witnessed substantial growth, with a projected increase in market valuation driven by technological innovations and heightened consumer demand for secure and accessible banking options in the past few years, particularly noted between 2021 and 2023. The trend indicates a robust evolution toward digital banking solutions in the US financial landscape.

US Cardless ATM Market Segmentation Insights

Cardless ATM Market Type Outlook

On-site ATM

Off-site ATM

Others

Cardless ATM Market Technology Outlook

Near-field Communication (NFC)

Quick Response (QR) Codes

Biometric Verification

Cardless ATM Market End User Outlook

Bank and Financial Institutions

Independent ATM Deployer

 

Report Scope:

Report Attribute/Metric Source:	Details
MARKET SIZE 2018	623.4(USD Million)
MARKET SIZE 2024	700.0(USD Million)
MARKET SIZE 2035	2400.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	11.853% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Starbucks, Wells Fargo, Syndera, JPMorgan Chase, Diebold Nixdorf, Citibank, PNC Financial Services, Walmart, American Express, Vantage West Credit Union, U.S. Bank, Bank of America, Cardtronics, FIS, NCR Corporation
SEGMENTS COVERED	Type, Technology, End User
KEY MARKET OPPORTUNITIES	Increased consumer preference for convenience, Growth of mobile banking adoption, Expansion of digital payment solutions, Enhanced security through biometric options, Partnership opportunities with fintech companies
KEY MARKET DYNAMICS	growing consumer preference for convenience, increasing smartphone penetration rates, enhanced security features, partnerships with fintech companies, shifting regulatory environment
COUNTRIES COVERED	US