Payment Alliance International (PAI), which works in ATM wallet management tools and services, has acquired TouchPoint 21, which works in ATMs and cash management for financial institutions, businesses announcement Friday (February 4).
PAI will now have access to TouchPoint 21’s work on advanced ATM and Interactive Teller Machine (ITM) terminals, as well as its in-house maintenance and armored teams.
The release notes that the acquisition will strengthen PAI’s ability to support the growth of financial institutions. With fully outsourced ATM operations, banks and credit unions can more easily add to their operations, the press release claims.
Additionally, the release says it enables expanded footprints at better pricing, better real-time management and visibility, treasury automations, and more streamlined operations for internal teams.
“The TouchPoint 21 team is committed to simplifying and improving ATM operations for our customers,” said PAI’s CEO. David Dove says in the ad. “Their track record of innovation and customer service is a perfect match for us. I look forward to expanding our service model with the expertise that the TouchPoint 21 team brings.
“Joining PAI opens up an expanded value set for our customers and also allows us to offer these benefits to a much broader customer base,” said Brett Koedam, CEO of TouchPoint 21. “The capabilities developed by PAI complement those of TouchPoint 21, and PAI’s focus on customer satisfaction matches ours. Together, we will continue to grow by helping financial institutions offer new solutions to their customers. »
The pandemic has seen more people using mobile and online banking solutions, with 41% of consumers saying they primarily use mobile for banking. However, the ATM is also a big part of the change – nearly 11% say they use the ATM as their main banking channel.
Related: Deep Dive: How Financial Institutions Are Leveraging ATMs to Bridge the Gap Between Digital and Physical Banking
About 41% say ATMs are a regular way to access banking services, and ATMs are also used more often than ATMs.
The global ATM market has grown and PYMNTS writes that this shows how sustainable the technology is. This market reached $20.18 billion in 2020, and its annual growth is expected to continue through 2028.