Cardless ATM Market By Technology (QR Code, NFC, Biometrics, Mobile App-Based); By Deployment Type (Onsite, Offsite, Institutional); By End User (Retail Banks, Credit Unions, IADs, Fintechs); By Geography, Segment Revenue Estimation, Forecast, 2024–2030.

1. Introduction and Strategic Context

The Global Cardless ATM Market will witness a robust CAGR of 13.2% , valued at $2.7 billion in 2024 , expected to appreciate and reach $5.8 billion by 2030 , confirms Strategic Market Research.

 

Cardless ATMs—also referred to as contactless or mobile-enabled ATMs—allow users to perform banking transactions without a physical debit or credit card. Instead, users authenticate transactions using mobile banking apps, QR codes, NFC (Near Field Communication), biometric ID, or token-based systems. This innovation is reshaping the traditional ATM experience, making it more secure, accessible, and in alignment with modern consumer behaviors .

 

The market's expansion is being driven by several macroeconomic and technological shifts:

• Digital transformation in banking : The global surge in mobile banking adoption, coupled with a shift toward digital-first financial services, has elevated demand for innovative, touchless ATM experiences.

• Security enhancements : Cardless ATM systems minimize risks related to card skimming, cloning, and physical theft. Biometric authentication and real-time tokenization offer an added layer of fraud protection.

• Pandemic-driven hygiene concerns : COVID-19 accelerated consumer aversion to physical touchpoints. This has boosted adoption of contactless banking across markets.

• Policy modernization : Regulatory frameworks in regions such as North America, Europe, and parts of Asia are being revised to support secure digital authentication methods for banking, which includes mobile-based ATM access.

• Financial inclusion : Cardless ATMs play a key role in expanding access to banking services in underserved areas, especially in emerging markets where smartphone usage exceeds card penetration.

 

Key stakeholders in this market include:

• Financial institutions and retail banks – deploying cardless capabilities to improve customer experience and retention.

• ATM manufacturers and OEMs – adapting hardware to support NFC and QR technologies.

• Fintech startups – delivering software platforms and authentication layers for cardless access.

• Telecom and network service providers – ensuring secure communication between user devices and ATM servers.

• Governments and regulatory agencies – promoting secure and inclusive banking practices.

Experts anticipate that cardless ATM technology will evolve beyond withdrawal services to include account opening, cash deposit, and loan disbursement—all powered via smartphone interfaces.

 

2. Market Segmentation and Forecast Scope

The cardless ATM market is structured across four principal dimensions to reflect technology maturity, end-user demand, deployment type, and geographic variation. Strategic segmentation enables better clarity on innovation hotspots, adoption trends, and investment opportunities.

By Technology

• QR Code-Based Access

• NFC (Near Field Communication)

• Biometric Verification

• Mobile App-Based Authentication

Among these, QR Code-Based Access held approximately 36% of the market share in 2024 , owing to its simplicity, mobile ubiquity, and cross-platform compatibility. However, the Biometric Verification segment is expected to witness the fastest growth, driven by increasing deployment of facial recognition and fingerprint scanners in bank-integrated ATMs. This growth is fueled by a rising consumer preference for zero-hassle, secure, and card-independent financial access, especially in urban regions.

By Deployment Type

• Onsite ATMs

• Offsite/Standalone ATMs

• Workplace/Institutional ATMs

Onsite ATMs , usually located within bank premises, remain dominant due to the ease of technological upgrades and integration with backend systems. However, Offsite/Standalone ATMs are gaining traction in suburban and semi-urban zones where digital banking services are increasingly replacing physical branches.

By End User

• Retail Banks

• Credit Unions

• Independent ATM Deployers (IADs)

• Payment and Fintech Providers

Retail Banks are currently the largest adopters, leveraging cardless ATMs to align with omnichannel banking strategies. Fintech startups, however, represent the highest potential disruptors. Their partnerships with independent ATM deployers (IADs) offer scalable, cloud-native, and mobile-integrated cardless solutions. This democratization of ATM access could become a catalyst for branchless banking models globally.

By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

In 2024, North America commanded a significant portion of the global cardless ATM market due to early adoption, supportive banking regulations, and a highly digital-savvy consumer base. However, Asia Pacific is projected to be the fastest-growing region between 2024 and 2030. Factors such as smartphone proliferation, increasing digital wallets, and government-backed financial inclusion schemes in India, China, and Southeast Asia are pivotal drivers.

By capturing use behaviors across both technologically advanced and digitally emerging economies, this segmentation framework helps stakeholders tailor rollout strategies and innovation investments accordingly.

 

3. Market Trends and Innovation Landscape

The cardless ATM market is at the intersection of digital banking evolution, biometric security, and decentralized fintech infrastructure. As the market matures, innovation is intensifying across hardware design, user authentication protocols, and cloud-native integration systems. Below are the prevailing trends shaping this market’s trajectory from 2024 to 2030.

AI-Driven Transaction Security and Personalization

Artificial Intelligence (AI) is now embedded in modern cardless ATM operations—from real-time fraud detection and behavioral analytics to customized transaction prompts based on user history. Banks are deploying AI algorithms to track unusual login patterns or access attempts, instantly triggering authentication revalidation.

An executive at a digital banking solutions firm noted, “AI not only makes cardless ATM experiences safer but also smarter, helping banks tailor financial prompts based on spending patterns or even geolocation.”

Advancements in Biometric Authentication

Biometric-based cardless ATM systems are evolving rapidly. Fingerprint and palm-vein scanning are being tested for multi-factor authentication, particularly in high-fraud zones. In markets like Japan and South Korea, facial recognition ATMs are already in operation, with user approval rates steadily climbing.

Hardware manufacturers are integrating infrared facial scanners and biometric touchpads into ATM retrofits, allowing banks to upgrade without replacing entire units—creating a cost-effective path to modernization.

Mobile Wallet and Super-App Integration

With the rise of digital wallets (e.g., Apple Pay, Google Pay, Paytm, Alipay), ATM operators are building APIs that connect seamlessly to these platforms. This allows users to initiate withdrawals directly from their mobile wallets without requiring a traditional banking interface.

In Southeast Asia and Latin America, super-apps such as Grab and Mercado Pago are working with IADs to offer cash withdrawal points via QR-based cardless ATMs, creating a hybrid between cashless and cash-access models.

Cloud-Native ATM Management Platforms

Legacy ATM networks are undergoing a digital shift through cloud-based orchestration layers that allow remote diagnostics, software updates, user analytics, and adaptive authentication flows. This enables centralized management of decentralized ATM fleets—ideal for scaling cardless solutions in geographically dispersed markets.

As one European ATM software provider shared, “Cloud-based control has reduced maintenance downtime by 28%, while allowing us to dynamically adjust security layers based on threat level.”

Strategic Collaborations and M&A Activity

Innovation is increasingly driven by collaborations between fintech startups, legacy banks, and hardware providers. Notable trends include:

• Banks partnering with app developers to integrate secure token generation APIs

• ATM OEMs acquiring authentication startups for proprietary biometric tech

• Fintech accelerators funding next-gen cash interface technologies

For instance, several U.S. banks are piloting multi-vendor ATM interoperability standards to support uniform cardless access—an effort led by industry consortia like ATMIA and EMVCo.

The innovation ecosystem around cardless ATMs is creating not just a frictionless cash experience, but a new decentralized financial access model. From QR codes to AI biometrics, this evolution is less about removing cards—and more about reimagining the future of user-bank interaction.

 

4. Competitive Intelligence and Benchmarking

The cardless ATM market is becoming a highly strategic battleground where legacy ATM providers, fintech disruptors, and global banking institutions are competing to define the next-generation self-service banking infrastructure. Competitive differentiation revolves around innovation in authentication, cloud integration, service reliability, and user experience.

Here are some of the leading players in the space and their strategic positioning:

Diebold Nixdorf

A global ATM technology leader, Diebold Nixdorf is at the forefront of integrating cardless functionalities into both its legacy and new ATM models. The company has invested heavily in modular software architectures , allowing clients to integrate mobile app authentication, NFC readers, and biometric scanners with minimal overhaul. It maintains a strong presence in Europe and North America , with increasing expansion in emerging Asia-Pacific markets.

Diebold Nixdorf’s pivot toward “banking as a service” has enabled banks to roll out custom cardless ATM capabilities across multichannel platforms.

NCR Corporation

NCR Corporation focuses on digital-first banking transformation and is a leading advocate of cloud-native ATM networks . The company supports a range of cardless access methods including one-time passcodes (OTPs), QR codes, and NFC, integrated via secure APIs. NCR’s strength lies in its omnichannel banking platform , which allows cardless ATM access as part of a broader digital banking experience.

Its client base spans over 100 countries , with strategic deals in the Middle East and Southeast Asia for white-label cardless ATM rollouts.

FIS (Fidelity National Information Services)

FIS enables cardless transactions through mobile banking APIs and secure token-based infrastructure. The company is particularly active in the North American market , partnering with large banks to implement biometric and mobile-driven authentication. FIS’s technology is known for multi-layered fraud detection algorithms , enabling real-time authentication risk scoring.

Its growing focus on digital cash withdrawal rails also positions it as a back-end infrastructure partner to both banks and fintechs .

Hyosung TNS

South Korea-based Hyosung TNS offers advanced cardless ATM solutions integrated with AI-powered biometrics . Known for its hardware reliability and design innovation, Hyosung is particularly strong in Asia Pacific , where it collaborates with mobile app developers to embed QR-based access within digital wallets. The company is increasingly moving toward voice-assisted ATM interactions , an emerging area within accessible banking.

Euronet Worldwide

Operating across more than 170 countries, Euronet Worldwide specializes in independent ATM deployment (IAD) and transaction processing. Its Ren platform supports remote and cardless ATM operations across retail networks, particularly in Eastern Europe and Latin America . Euronet’s focus is on financial inclusion , often partnering with governments to enable mobile-based cash access in underbanked zones.

Triton Systems

Triton Systems caters primarily to the retail and convenience store sectors with compact ATMs that now feature optional cardless capabilities. The company targets rural and semi-urban markets in the U.S. and Africa, providing cost-effective and secure ATM options for regions with limited banking infrastructure.

Auriga

An emerging software innovator in ATM management, Auriga develops AI-augmented solutions that enhance cardless user flows, predict maintenance requirements, and optimize ATM uptime. It partners with banks across Europe and the Middle East , offering SaaS-based solutions for secure cloud orchestration of ATM fleets.

While large incumbents offer scale and hardware sophistication, smaller players and fintechs are disrupting through software agility and biometric-first innovations. The result is a dynamic ecosystem where hybrid partnerships—between OEMs, banks, and cloud integrators—are setting new standards in user-centric, cardless financial access.

 

5. Regional Landscape and Adoption Outlook

The adoption of cardless ATM solutions varies significantly across global regions, shaped by disparities in digital maturity, regulatory innovation, smartphone penetration, and banking infrastructure. From early adopters in North America to leapfrogging innovations in Asia Pacific, each region presents a unique adoption trajectory and market opportunity.

North America

North America leads in early adoption, driven by robust banking infrastructure, high smartphone usage, and strong consumer demand for digital self-service. Major banks such as Wells Fargo, Bank of America, and JPMorgan Chase have rolled out cardless access across thousands of ATM terminals using mobile apps and QR-based systems.

Key drivers include:

• Highly digitized financial services ecosystem

• Consumer preference for contactless and secure ATM experiences

• Widespread NFC-enabled mobile device penetration

Additionally, regulatory clarity from institutions like the FDIC and OCC has encouraged U.S. banks to invest confidently in cardless ATM upgrades.

In Canada, partnerships between credit unions and fintechs have accelerated QR-based cardless deployments in urban and semi-urban zones.

Europe

Europe shows strong regional variation , with Western Europe (Germany, UK, France) embracing cardless ATMs as part of digital branch transformation strategies. Meanwhile, Eastern Europe presents high potential due to infrastructure modernization programs and increasing government incentives for cashless access.

Trends driving growth:

• Integration with eID (electronic ID) systems in Scandinavian countries

• High mobile banking penetration among millennials and Gen Z

• Use of biometric-enabled ATMs in pilot programs across the Netherlands and Poland

Notably, the EU's PSD2 directive supports API-based authentication standards—paving the way for fintech-bank collaborations in cardless interfaces.

Asia Pacific

Asia Pacific is emerging as the fastest-growing region for cardless ATMs between 2024 and 2030. Mobile-first banking, cash-digital coexistence, and government-backed financial inclusion efforts are catalyzing deployment at scale.

Country-level standouts:

• India : NPCI’s interoperability frameworks enable mobile-initiated ATM withdrawals through UPI-linked apps

• China : QR-based cardless ATMs are integrated with Alipay and WeChat Pay ecosystems

• South Korea & Japan : Leading in biometric ATMs, with voice and facial recognition-based pilots

Mobile wallet dominance and digital ID integration make Asia Pacific a global testbed for contactless ATM innovation.

Latin America

Latin America offers a growing but under-penetrated market for cardless ATMs. Urban hubs in Brazil , Mexico , and Colombia are deploying pilot programs led by both regional banks and independent deployers.

Challenges include:

• Uneven smartphone access in rural zones

• Legacy ATM infrastructure with limited software flexibility

However, partnerships between telecom providers, microfinance firms, and fintechs are helping overcome these hurdles through mobile-first interfaces and portable ATM kits.

Middle East & Africa (MEA)

In the Middle East , digital banking reforms in countries like the UAE and Saudi Arabia are boosting demand for biometric and NFC-based cardless ATMs. Government-backed digital transformation programs are facilitating ATM modernization with strong cybersecurity layers.

In Africa , the opportunity lies in leapfrogging traditional banking via mobile-based financial services . Countries like Kenya and Nigeria show potential due to the success of mobile money platforms like M- Pesa and OPay , with increasing interest in enabling cash-out services through cardless interfaces .

Despite infrastructure gaps, the MEA region is a strategic white space for scalable, low-cost, mobile-first ATM deployments.

Across all regions, the shift from card-dependent to device-authenticated banking marks a fundamental redesign of how consumers interact with cash, banks, and identity. The regional expansion of cardless ATMs is not just a technology adoption story—it’s a reflection of financial modernization and accessibility.

 

6. End-User Dynamics and Use Case

The cardless ATM market is shaped by the varying priorities, operational scales, and innovation appetites of its core end users. Each category—ranging from large retail banks to nimble fintech platforms—brings a distinct strategic motivation to the adoption of cardless technology. Understanding these end-user behaviors is critical to unlocking market potential and tailoring deployment models.

Retail Banks

Retail banks are the primary adopters and investors in cardless ATM infrastructure. Their focus lies in enhancing customer experience , reducing fraud, and aligning ATM services with broader digital banking ecosystems .

Motivations include:

• Strengthening omnichannel service continuity (mobile → branch → ATM)

• Reducing physical card issuance and related costs

• Addressing customer demand for secure and hygienic touchpoints

Many global and regional banks have integrated cardless ATM access into their proprietary mobile apps , enabling QR code generation, biometric authentication, or one-time passcodes for ATM login. These implementations often begin in urban areas, then scale to suburban and semi-rural branches.

Credit Unions and Cooperative Banks

Credit unions, while slower to adopt due to limited infrastructure budgets, are increasingly embracing shared cardless ATM networks to maintain member convenience without large capital investment.

Common strategies include:

• Participating in interbank consortiums that deploy shared QR/NFC-enabled ATMs

• Outsourcing cardless software integration to fintech vendors

• Deploying limited units in high-traffic areas like universities and industrial zones

These institutions tend to focus more on cost-efficiency and security than on brand differentiation.

Independent ATM Deployers (IADs)

IADs are emerging as disruptive end users , especially in regions where branchless banking or mobile-first financial services dominate. Their goal is to extend ATM accessibility without the burdens of traditional banking infrastructure.

Advantages of cardless ATMs for IADs:

• No need for card-reading mechanisms (lower maintenance)

• Faster deployment cycles via plug-and-play authentication APIs

• Strategic partnerships with super-apps or mobile wallet providers

In Latin America and parts of Africa, IADs are becoming central to financial inclusion efforts by offering cardless cash-out options at grocery stores, convenience shops, and fuel stations.

Fintech and Digital Payment Platforms

Fintechs use cardless ATMs to bridge the gap between digital-only accounts and physical cash access . By leveraging QR-based or app-authenticated access, they enable users to withdraw money without requiring a traditional bank account.

Their impact includes:

• Extending functionality of digital wallets

• Partnering with hardware OEMs to develop white-label ATM units

• Deploying software overlays for token-based security layers

In Asia and Africa, some fintechs are even experimenting with shared QR standards , allowing multiple digital finance providers to integrate with the same ATM network.

Realistic Use Case: Cardless ATM Rollout in South Korea

A leading tertiary hospital in Seoul partnered with a domestic bank to install biometric-enabled cardless ATMs in its lobby. Using the hospital’s mobile app, patients could schedule appointments, manage bills, and withdraw insurance reimbursements via facial recognition authentication.

This setup reduced average queue times by 43%, eliminated the need for physical debit cards among elderly patients, and improved cash handling efficiency at administrative desks. The pilot’s success led to similar deployments in pharmacies and diagnostic centers affiliated with the hospital.

The role of end users in the cardless ATM market is far from transactional—it’s deeply strategic. Whether it's a bank trying to unify its digital footprint or a fintech bridging cash and cloud, the move toward cardless access is redefining financial UX across the board.

 

7. Recent Developments + Opportunities & Restraints

Recent Developments (Past 2 Years)

• Wells Fargo expands cardless ATM access via biometric authentication (2023) The bank integrated facial recognition features into its mobile banking app, enabling secure ATM withdrawals without cards or passcodes.

• NCR launches cloud-native platform for ATM orchestration (2024) NCR’s latest software suite enables real-time, remote management of ATMs, including support for QR and NFC-based cardless access.

• India’s UPI (Unified Payments Interface) enables cardless ATM withdrawals (2023) NPCI rolled out a national framework allowing customers to use mobile UPI apps for QR-based withdrawals at participating ATMs.

• Euronet Worldwide partners with digital wallet providers in Mexico and Brazil (2024) Euronet now supports cash-out from mobile wallets through its IAD network, reaching underserved urban populations.

• Hyosung deploys facial recognition ATMs in South Korea's smart cities (2023) These pilot deployments align with national efforts to integrate biometric security into public-facing banking services.

 

Opportunities

• Rising demand in emerging markets Cardless ATM technology offers a fast path to financial inclusion in countries where mobile penetration outpaces banked population growth.

• Integration with super-apps and digital wallets Collaborations with dominant platforms like Grab, Paytm, and Alipay open new customer channels and expand transaction volumes.

• AI-powered fraud prevention and behavioral analytics Use of AI in ATM software allows providers to deploy adaptive security layers, improving trust and reducing theft.

 

Restraints

• Regulatory fragmentation and lack of unified standards Differing rules around biometric data usage, digital ID frameworks, and API interoperability slow down cross-border expansion.

• High upfront investment for legacy hardware retrofitting Banks and IADs face significant CAPEX to upgrade or replace existing ATMs with cardless-ready infrastructure, particularly in low-margin markets.

While recent advancements in cloud architecture and biometric integration are transforming how cardless ATM services are delivered, industry-wide growth will depend on navigating compliance complexities and democratizing deployment costs.

 

Report Coverage Table

Report Attribute	Details
Forecast Period	2024 – 2030
Market Size Value in 2024	USD 2.7 Billion
Revenue Forecast in 2030	USD 5.8 Billion
Overall Growth Rate	CAGR of 13.2% (2024 – 2030)
Base Year for Estimation	2023
Historical Data	2017 – 2021
Unit	USD Million, CAGR (2024 – 2030)
Segmentation	By Technology, By Deployment Type, By End User, By Geography
By Technology	QR Code-Based, NFC, Biometric, Mobile App-Based
By Deployment Type	Onsite, Offsite, Institutional
By End User	Retail Banks, Credit Unions, IADs, Fintechs
By Region	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Country Scope	U.S., UK, Germany, China, India, Japan, Brazil, UAE, South Korea
Market Drivers	- Rise in smartphone banking and mobile-first UX - Shift toward biometric and contactless banking - Financial inclusion initiatives
Customization Option	Available upon request