The need for simple and efficient access to money, without assistance from a bank clerk, was recognized simultaneously by financial service providers in Asia, Europe, and the United States. This led to the introduction of automated teller machines (ATMs). The history of ATM development is closely connected to the introduction of
. These made simple automated customer identification possible. It is widely accepted that the first ATM machine was installed by
in London in 1967.
How many ATMs are there in Europe?
The total
number of ATMs in Europe grew overall up until 2016, where the total number of ATMs in Europe saw a peak. The number decreased the following years, amounting to 375,900 cash machines operating in Europe as of June 2021, compared to around 420,200 at the peak in 2016. Around 87,800 of them were installed in Germany, which was the country in Western Europe with the
highest number of ATMs, followed by Spain, Italy, and France. The
ATM density in the European Union also dropped during the last decade, to around 63.9 ATMs per 100,000 inhabitants as of 2020.
Why a decline in the number of ATMs?
The reason behind the decline in number of ATMs in Europe is the change in
payment methods used in Europe, turning towards a more
cashless society. Much of the change from cash to digital payments is also attributed to the shift from offline, in-store retail to
online retail. Cash payments are being replaced by digital payments, such as card payments or mobile app payments, where apps like PayPal, Google Pay, and
Apple Pay are just a few examples.
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