Non-cash payment popularization, Japan’s largest bank plans to start reducing the number of ATMs

Non-cash payment popularization, Japan’s largest bank plans to start reducing the number of ATMs

With the spread of online trading and cashless payments, Japan’s demand for ATMs has diminished, with Japan’s largest bank, Mitsubishi UFJ, planning to reduce the number of ATMs.



According to the report, the Mitsubishi UFJ Financial Group said that over the past 5 years the number of online banking users increased by 40%, and the use of ATMs and paper passbook is significantly reduced,

So the company plans to reduce the number of ATMs by 20% over the next 5 years, and will also replace some ATMs with a multi-functional, small cash machine that is easy for users to use.

　
At the same time, Mitsubishi UFJ Financial Group also developed a mobile payment application to improve the convenience of online transactions. At present, Mitsubishi UFJ has about 8100 ATMs in Japan. In addition, Japanese banks have begun to take action to unify the two-dimensional code payment standard. Other banks have also scaled back the cost of automatic teller machines, turning their operating resources into online trading.