Digital RMB pilot, ATMs also have development opportunities? Can you withdraw digital RMB?

After mobile payment became popular in my country, the frequency of cash use by Chinese residents has decreased significantly. How long has it been since you used cash? For many people, the popularity of mobile payment has greatly facilitated their lives. Carrying a mobile phone with you when you go out can often solve many problems.

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Under such circumstances, the number of ATM machines has dropped significantly. After all, many ATM machines are idle, which increases maintenance costs. Many bank branches have chosen to remove unnecessary ATM machines to reduce related expenses.

Official data from my country show that the number of ATMs in my country has continued to decrease in recent years. By the end of 2020, the total number of ATMs in China was 1.0139 million, 83,900 less than at the end of 2019. And at the end of 2020, the number of ATMs per 10,000 people in my country was 7.24, a year-on-year decrease of about 8%.

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Many people have said that with the popularization of mobile payments in my country, people's use of cash has decreased, and the role of ATMs will become much smaller. More ATMs may be "disposed of" in the future, otherwise the maintenance cost of a large number of ATMs will be very high.

However, when everyone was pessimistic about the future of ATM machines, a new situation emerged, giving ATM machines a place in the future?

The “new role” of ATMs

In June, some ATMs in Beijing's bank branches have started the digital RMB deposit and withdrawal function, and many people even said that the "cardless era" is coming. However, for ATMs, it has ushered in a transformation opportunity, and people may use ATMs more frequently in the future.

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Simply put, digital RMB can be used on ATM machines, and my country's digital RMB will become more popular in the future.

my country's largest ATM supplier also announced that as my country's digital RMB pilot work progresses, it has also conducted digital RMB ATM exchange tests with many banks. In Suzhou, Shenzhen and other regions, some bank branches' ATMs have officially gone online to test digital RMB exchange. The digital RMB ATM exchange function can meet the needs of exchanging digital RMB and cash.

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It is understood that some residents have also used the digital RMB deposit and withdrawal functions on ATM machines, and realized "cardless operation" throughout the process. Cash can be withdrawn from the cash box through mobile phone verification.

Of course, the process of depositing cash is basically the same as withdrawing cash. You just need to enter your mobile phone number and password, and then perform relevant operations to convert the cash into digital RMB. This brings hope to ATMs, which are in an awkward period. Perhaps the digital RMB ATMs will once again attract the attention of residents.

As mentioned above, the demand for ATM machines has shrunk dramatically in recent years, which has caused many ATM manufacturers to transform, and many have even left ATM manufacturing, leaving the industry in a state of desolation.

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Now, under the background of the digital RMB pilot, ATM operators may have discovered the direction of transformation. This is a phased opportunity for ATM operators. In the future, many ATMs across the country may need to be upgraded and renovated, and many banks have also begun to prepare. I wonder if everyone is looking forward to it.

Let me tell you here that digital RMB is the general direction of my country's development in the future. Many regions have already piloted it and it will be popularized throughout the country in the future. Another feature of digital RMB is that it can realize offline payment and collection without the need for an Internet-connected mobile phone to "touch and pay".